(Venezuelanalysis.com) - "(...)The Venezuelan Central Bank released the country's economic growth data, which showed that the Venezuelan economy was still growing steadily, despite lower oil prices in the second half of 2006. At 11.8% GDP growth for the 4th quarter of 2006, this was the 13th consecutive quarter of growth since the 4th quarter of 2003. Venezuela's economy has grown by over 10% every year since 2004.

The total growth for all of 2006 was 10.3%, which is about what had been predicted at the end of the year. Altogether Venezuela's economy has grown by 22% since Chávez came into office in 1999. The years 2002 and 2003 the economy shrunk significantly due to the coup attempt and the shutdown of the country's all-important oil industry.

The sectors that experienced the greatest growth in all of 2006 were financial institutions (39.2%), construction (32.1%), communications (23.2%), and commerce (19.9%). Government services grew far less, at only 3.8%. The only sector to shrink slightly during 2006 was the oil sector, which declined by 1.9%, presumably due to the lower price of oil relative to 2005".