From a nation with the world’s largest proven oil reserves to one where 96% of its people live in poverty, Venezuela’s staggering statistics paint a portrait of a profound economic and social collapse despite its vast natural wealth.
Key Takeaways
- Venezuela's GDP (current US$) in 2022 was $102.332 billion, marking a slight recovery from previous hyperinflation years
- The inflation rate (consumer prices) in Venezuela reached 264,683% in 2018, one of the highest in recorded history
- Venezuela's public debt as a percentage of GDP stood at 350.4% in 2021 estimates, indicating severe fiscal strain
- Venezuela's population in 2023 was estimated at 28,917,613
- Median age in Venezuela is 29.9 years as of 2023 estimates
- Birth rate was 15.23 births/1,000 population in 2023
- Venezuela held presidential elections in 2018 won by Nicolas Maduro with 67.8% amid opposition boycott
- National Assembly controlled by opposition until 2020, then new pro-Maduro assembly elected
- Freedom House score for Venezuela is 15/100 "Not Free" in 2023
- Venezuela's life expectancy at birth was 72.3 years in 2022
- Under-5 mortality rate was 23.8 deaths/1,000 live births in 2022
- Physician density was 1.98 physicians/1,000 population in 2012 (latest)
- Venezuela's total area is 912,050 sq km
- Land area 882,050 sq km, water 30,000 sq km
- Comparative area slightly more than twice size of California
Venezuela remains mired in a severe economic and humanitarian crisis despite its vast resources.
Demographics
- Venezuela's population in 2023 was estimated at 28,917,613
- Median age in Venezuela is 29.9 years as of 2023 estimates
- Birth rate was 15.23 births/1,000 population in 2023
- Death rate was 5.48 deaths/1,000 population in 2023
- Net migration rate was -7.49 migrant(s)/1,000 population in 2023, reflecting exodus
- Urbanization rate was 88.2% in 2023, with 25.54 million urban dwellers
- Sex ratio at birth was 1.05 male(s)/female
- Infant mortality rate was 21.6 deaths/1,000 live births in 2023
- Life expectancy at birth total was 73.1 years in 2023
- Total fertility rate was 2.19 children born/woman in 2023
- Ethnic groups: mestizo 51.6%, white 43.6%, Black/Afro-descendant 3.6%, Amerindian 2.8% (per 2011 census)
- Religions: nominally Roman Catholic 96%, Protestant 2%, other 2% (per 2011 census)
- Languages: Spanish (official), 150 indigenous languages officially recognized
- Literacy rate age 15+ was 99.0% (2021 est.)
- Age structure 0-14 years: 25.3% (male 3,758,882/female 3,589,119)
- Age structure 15-64 years: 65.9% (male 9,545,569/female 9,539,719)
- Age structure 65+ years: 8.8% (male 1,025,945/female 1,458,379)
- Dependency ratios total: 51.8 youth 44.4 elderly 7.4
- Over 7.7 million Venezuelans have emigrated since 2014, per UNHCR 2023
- Maternal mortality ratio was 125 deaths/100,000 live births in 2020
- Population growth rate was -0.45% in 2023
- Major urban areas pop: Caracas 3.021 million, Maracaibo 2.229 million, Valencia 1.727 million (2023)
- Population density 34/km² in 2023
- Obesity adult prevalence rate 26.9% in 2016
- Drinking water access improved: urban 95%, rural 78% (2020)
- Sanitation access: urban 94%, rural 75% (2020)
- HIV/AIDS adult prevalence 0.5% (2022 est.)
Demographics Interpretation
Venezuela is a nation bursting with the energy of youth yet tragically bleeding out its future, as more people now flee its crises than are born within its borders.
Economy
- Venezuela's GDP (current US$) in 2022 was $102.332 billion, marking a slight recovery from previous hyperinflation years
- The inflation rate (consumer prices) in Venezuela reached 264,683% in 2018, one of the highest in recorded history
- Venezuela's public debt as a percentage of GDP stood at 350.4% in 2021 estimates, indicating severe fiscal strain
- Oil exports accounted for 95% of Venezuela's total exports in 2022, highlighting extreme dependency on petroleum
- Unemployment rate in Venezuela was 33.3% in 2018, with underemployment affecting over 50% of the workforce
- Venezuela's GDP per capita (PPP) was $3,641 in 2022, down from $18,000 pre-crisis levels
- Foreign direct investment net inflows were -$845 million in 2021, reflecting capital flight
- The poverty rate in Venezuela exceeded 96% in 2021 according to the Venezuelan Academy of Sciences
- Venezuela's current account balance was -5.2% of GDP in 2022, driven by import needs
- Remittances received were $4.1 billion in 2022, a lifeline for many households
- Venezuela's fiscal deficit was estimated at 20% of GDP in 2023 by IMF projections
- Gold production in Venezuela was 29 tonnes in 2022, amid illegal mining issues
- Venezuela's external debt totaled $154 billion in 2023 estimates
- The black market exchange rate for USD/VES reached 36.5 in 2023
- Agriculture contributes only 4.7% to GDP but employs 7.3% of workforce in 2021
- Manufacturing sector GDP share was 12% in 2022, severely contracted
- Services sector accounts for 52.4% of GDP in 2022 data
- Venezuela's budget revenue from oil was 72% in 2022
- Ease of doing business rank was 188 out of 190 in 2020 World Bank report
- Corruption Perceptions Index score for Venezuela was 13/100 in 2022, ranking 177/180
- Venezuela's proven oil reserves are 303.3 billion barrels, largest in world
- Daily oil production averaged 802,000 barrels per day in 2023
- Natural gas production was 863 billion cubic feet in 2021
- Venezuela's Gini coefficient was 39 in 2021, indicating high inequality
- Central government debt total was 78.4% of GDP in 2022
- Exports of goods and services were 12.28% of GDP in 2022
- Imports of goods and services were 26.44% of GDP in 2022
- Final consumption expenditure was 93.8% of GDP in 2022
- Gross capital formation was -3.92% of GDP in 2022, negative investment
Economy Interpretation
Venezuela has perfected a uniquely tragic alchemy, transforming the world's largest oil reserves into a nation where hyperinflation renders money a museum piece, debt has become an astronomical art form, unemployment is a mainstream career, and survival increasingly depends on remittances from those who escaped.
Geography
- Venezuela's total area is 912,050 sq km
- Land area 882,050 sq km, water 30,000 sq km
- Comparative area slightly more than twice size of California
- Coastline 2,800 km
- Maritime claims territorial sea 12 nm, contiguous zone 15 nm, EEZ 200 nm
- Elevation extremes lowest Orinoco delta -1.2 m, highest Pico Bolivar 4,978 m
- Mean elevation 450 m
- Land use arable 0.4%, permanent crops 0.9%, permanent pasture 5%, forest 52.1%, other 41.6% (2018)
- Irrigated land 13,340 sq km (2012)
- Major renewable water resources 1.44 trillion cu m (2020)
- Freshwater withdrawal 9.66 cu km/yr 49% agricultural
- Climate tropical lowland hot humid, tropical highland cool
- Terrain Andes Mountains and Maracaibo Lowlands in northwest, central plains, Guiana Highlands southeast
- Natural hazards seismic activity, Mount Pico Bolivar vol, floods, rockslides, mudslides
- Volcanism Sangay active, Santiaguito 2012-22
- Environment current issues climate change, pollution Orinoco, deforestation 0.5%/yr, illegal mining
- Environment international agreements party to 17, signed 5 (2023)
- Air pollution PM2.5 24.9 ug/cu m 2019
- Biodiversity terrestrial 13,000 species plants, 1,300 birds, 350 mammals
- Protected areas 18% land, 3% marine (2022)
- Natural resources petroleum, natural gas, iron ore, gold, bauxite
- Land boundaries 5,626 km Guyana 464 Brazil 2,200 Colombia 2,341 Trinidad/Tobago 0 Caribbean Sea 2,800 km
- Major rivers Orinoco 2,000 km, Rio Negro, Casiquiare
- Natural hazards floods frequent in north
- Population distribution 90% within 100 km of coast
- Major watersheds Orinoco basin covers 80%
Geography Interpretation
Venezuela is a lesson in geographical irony, where nature's staggering generosity—from the life-giving Orinoco basin to vast underground wealth—is perpetually undercut by human governance, leaving its people stranded between potential and peril.
Health
- Venezuela's life expectancy at birth was 72.3 years in 2022
- Under-5 mortality rate was 23.8 deaths/1,000 live births in 2022
- Physician density was 1.98 physicians/1,000 population in 2012 (latest)
- Hospital beds per 1,000 people was 1.3 in 2012
- Immunization measles 89% in 2022
- Diabetes prevalence 9.2% among adults 2014
- Tuberculosis incidence 26.6 per 100,000 in 2021
- Malaria cases 254,843 in 2022 per WHO
- COVID-19 deaths official 5,757 as of 2023, underreported
- Adolescent fertility rate 65.8 births/1,000 women 15-19 in 2021
- Antenatal care coverage 80% in 2018
- Children with acute respiratory infection taken to health provider 34.5% (2011-16)
- Exclusive breastfeeding under 6 months 29.7% (2015-16)
- Vitamin A supplementation 77% (2014)
- Suicide mortality rate 10.1 per 100,000 in 2019
- Health expenditure public 22.6% of total in 2020
- Health expenditure total 5.5% of GDP in 2020
- Incidence of tuberculosis HIV+ 1.7 per 100,000 in 2021
- Hepatitis B prevalence 0.5% infants vaccinated 3 doses 92% 2022
- Polio vaccination 3 doses 76% 2022
- School enrollment primary net 92.6% 2018
- Adjusted net enrollment secondary 59.7% 2018
- Youth literacy rate 15-24 99.2% 2021
- Government expenditure on education 3.3% GDP 2015 latest
- Primary completion rate female 92.1% 2016
- Out-of-school children primary age 4.3% 2018
- Pupil-teacher ratio primary 22.9 2018
- Trainee teachers per new teachers primary 0.4 2012
- Researchers in R&D per million 57.6 2015
Health Interpretation
Venezuela’s statistics paint a picture of a nation holding onto its literacy and vaccination campaigns by its fingernails while its hospitals and schools slowly crumble beneath the weight of a shattered economy.
Politics
- Venezuela held presidential elections in 2018 won by Nicolas Maduro with 67.8% amid opposition boycott
- National Assembly controlled by opposition until 2020, then new pro-Maduro assembly elected
- Freedom House score for Venezuela is 15/100 "Not Free" in 2023
- Human Rights Watch reports over 18,000 arbitrary detentions since 2014 protests
- Venezuela's government type is Federal Presidential Republic
- Suffrage age 18 years, universal
- Executive branch: President Nicolas Maduro (since 19 April 2013)
- Legislative: National Assembly unicameral 277 seats since 2021
- Judicial: Supreme Tribunal of Justice with 32 magistrates appointed by Maduro-controlled assembly
- Corruption Perceptions Index rank 177/180 in 2022, score 13
- Press Freedom Index rank 158/180 in 2023 by RSF
- Over 300 political prisoners reported by Foro Penal in 2023
- Venezuela withdrew from OAS in 2019 after sanctions
- Juan Guaido recognized as interim president by 50+ countries in 2019
- 2021 regional elections won by PSUV with 65% amid opposition abstention
- Military loyalty key, with 150,000 active personnel
- Political parties: PSUV dominant, opposition fragmented (VP, AD, PJ)
- International disputes: Essequibo region claim with Guyana
- US sanctions since 2017 affected 150+ officials and entities
- EU sanctions on 55 individuals and 16 entities as of 2023
- Russia and China vetoed UNSC actions on Venezuela crisis multiple times
- 2017 Constituent Assembly created with 545 seats, all pro-Maduro
- Voter turnout in 2018 presidential election was 46.1%, lowest ever
- Amnesty International documents 90+ deaths in 2017 protests
- World Justice Project Rule of Law Index rank 129/142 in 2023
Politics Interpretation
A nation whose elections and institutions resemble a democratic pantomime, orchestrated by a powerful executive with a script of universal suffrage but a backstage of political imprisonment, international sanctions, and a judiciary appointed by the very cast it is meant to judge.
Sources & References
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