Venezuela

World Book Index

Introduction

Background
Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Ecuador and New Granada, which became Colombia). For most of the first half of the 20th century, Venezuela was ruled by generally benevolent military strongmen who promoted the oil industry and allowed for some social reforms. Democratically elected governments have held sway since 1959.

Geography

Area
total : 912,050 sq km
land: 882,050 sq km
water: 30,000 sq km

Climate
tropical; hot, humid; more moderate in highlands

Natural resources
petroleum, natural gas, iron ore, gold, bauxite, other minerals, hydropower, diamonds

People and Society

Population
total: 31,250,306 (2024 est.)

Ethnic groups
unspecified Spanish, Italian, Portuguese, Arab, German, African, Indigenous

Languages
Spanish (official) 98.2%, indigenous 1.3%, Portuguese 0.1%, other 0.4% (2023 est.)

Religions
Roman Catholic 48.1%, Protestant 31.6% (Evangelical 31.4%, Adventist 0.2%), Jehovah's Witness 1.4%, African American/umbanda 0.7%, other 0.1%, believer 3.5%, agnostic 0.1%, atheist, 0.4%, none 13.6%, unspecified 0.6% (2023 est.)

Population growth rate
2.34% (2024 est.)

Government

Government type
federal presidential republic

Capital
name: Caracas

Executive branch
chief of state: Notification Statement: the United States does not recognize Nicolas MADURO Moros as president of Venezuela

President Nicolas MADURO Moros (since 19 April 2013)
head of government: President Nicolas MADURO Moros (since 19 April 2013)

Diplomatic representation from the US
chief of mission: Ambassador (vacant); Chargé d’Affaires John McNAMARA (since 1 February 2025); note - serves as the chief of mission of the Venezuela Affairs Unit, located in the US Embassy, Bogota

Economy

Economic overview
South American economy; ongoing hyperinflation since mid-2010s; chaotic economy due to political corruption, infrastructure cuts, and human rights abuses; in debt default; oil exporter; hydropower consumer; rising Chinese relations

Real GDP (purchasing power parity)
$110.943 billion (2023 est.)
$106.672 billion (2022 est.)
$98.768 billion (2021 est.)

Real GDP per capita
$4,900 (2023 est.)
$4,600 (2022 est.)
$4,000 (2021 est.)

Exports
$83.401 billion (2018 est.)
$93.485 billion (2017 est.)
$28.684 billion (2016 est.)

Exports - partners
USA 50%, China 10%, Spain 9%, Brazil 6%, Turkey 5% (2023)

Exports - commodities
crude petroleum, petroleum coke, scrap iron, alcohols, fertilizers (2023)

Imports
$18.432 billion (2018 est.)
$18.376 billion (2017 est.)
$25.81 billion (2016 est.)

Imports - partners
China 35%, USA 24%, Brazil 12%, Colombia 7%, Turkey 4% (2023)

Imports - commodities
refined petroleum, soybean meal, corn, plastic products, vehicle parts/accessories (2023)

Human Development Index

The country's Human Development Index (HDI) is 0.709, ranking it 121st out of 193 countries tested. (more information)

World Happiness Report

The World Happiness Report ranked the country 87th out of 158 countries tested with a score of 5.455. (more information)