A taxonomic list of economically important (gel-forming) marine algae (agarophytes, carrageenophytes and alginophytes) and the quantity of phycocolloids (agar and alginic acid) imported in Venezuela between l978-1987 are given. As a begining on the morphology and taxonomy of this group of algae, the author's observations on a Gracilaria species occurring in the Gulf of Cariaco in eastern Venezuela are described and illustrated. This species would appear to belong to G. foliifera var. foliifera (Taylor, 1960). However, on the basis of recent published information on the compressed, ditrichotomously branched species from the eastern Atlantic, the Venezuelan material is tentatively referred to G. lacinulata (Vahl) Howe, a species describes based on material collected from the U.S. Virgin Islands. The present study also highlighted the need lo have more critical information both in the field collected and cultured material from different geographical areas on species with supposedly wide latitudinal distribution.