Spanish, diminutive of Venecia "Venice" (see Venice). Supposedly the name was given by Spanish sailors in 1499 when they saw a native village built on piles on Lake Maracaibo.
Republic in northern South America, bordered by the Caribbean Sea to the north, Guyana to the east, Brazil to the south, and Colombia to the southwest and west. Its capital and largest city is Caracas.
Note: Venezuela is rich in oil, which accounts for about ninety percent of its export income. Because of its revenue from oil, Venezuela has the highest per capita national income in Latin America. It was a founder of the Organization of Petroleum Exporting Countries (OPEC).
Note: Venezuela became independent from Spain in 1821.