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Throughout most of the 20th century, Venezuela maintained friendly relations with most Latin American and Western nations. Relations between Venezuela and the United States government worsened in 2002, after the 2002 Venezuelan coup d'état attempt during which the U.S. government recognized the short-lived interim presidency of Pedro Carmona. In 2015, Venezuela was declared a national security threat by U.S. president Barack Obama. Correspondingly, ties to various Latin American and Middle Eastern countries not allied to the U.S. have strengthened. |
Venezuela seeks alternative hemispheric integration via such proposals as the Bolivarian Alternative for the Americas trade proposal and the newly launched Latin American television network teleSUR. Venezuela is one of five nations in the world—along with Russia, Nicaragua, Nauru, and Syria—to have recognized the independence of Abkhazia and South Ossetia. Venezuela was a proponent of OAS's decision to adopt its Anti-Corruption Convention and is actively working in the Mercosur trade bloc to push increased trade and energy integration. Globally, it seeks a "multi-polar" world based on strengthened ties among undeveloped countries. |
On 26 April 2017, Venezuela announced its intention to withdraw from the OAS. Venezuelan Foreign Minister Delcy Rodríguez said that President Nicolás Maduro plans to publicly renounce Venezuela's membership on 27 April 2017. It will take two years for the country to formally leave. During this period, the country does not plan on participating in the OAS. |
Venezuela is involved in a long-standing disagreement about the control of the Guayana Esequiba area. |
Venezuela may suffer a deterioration of its power in international affairs if the global transition to renewable energy is completed. It is ranked 151 out of 156 countries in the index of Geopolitical Gains and Losses after energy transition (GeGaLo). |
Venezuela is a charter member of the United Nations (UN), Organization of American States (OAS), Union of South American Nations (UNASUR), Bolivarian Alliance for the Peoples of Our America (ALBA), Mercosur, Latin American Integration Association (LAIA) and Organization of Ibero-American States (OEI). |
Military |
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The Bolivarian National Armed Forces (Fuerza Armada Nacional Bolivariana, FANB) are the unified military forces of Venezuela. It includes over 320,150 men and women, under Article 328 of the Constitution, in five components of ground, sea and air. The components of the FANB are: the Venezuelan Army, the Venezuelan Navy, the Venezuelan Air Force, the Venezuelan National Guard, and the Venezuelan National Militia. As of 2008, a further 600,000 soldiers were incorporated into a new branch, known as the Armed Reserve. |
The president of Venezuela is the commander-in-chief of the FANB. Its main purposes are to defend the sovereign national territory of Venezuela, airspace, and islands, fight against drug trafficking, search and rescue and, in the case of a natural disaster, civil protection. All male citizens of Venezuela have a constitutional duty to register for the military service at 18, which is the age of majority. |
Law and crime |
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In Venezuela, a person is murdered every 21 minutes. Violent crimes have been so prevalent in Venezuela that the government no longer produces the crime data. In 2013, the homicide rate was approximately 79 per 100,000, one of the world's highest, having quadrupled in the past 15 years with over 200,000 people murdered. By 2015, it had risen to 90 per 100,000. The capital Caracas has one of the greatest homicide rates of any large city in the world, with 122 homicides per 100,000 residents. |
In 2008, polls indicated that crime was the number one concern of voters. Attempts at fighting crime such as Operation Liberation of the People were implemented to crack down on gang-controlled areas but, of reported criminal acts, less than 2% are prosecuted. In 2017, the Financial Times noted that some of the arms procured by the government over the previous two decades had been diverted to paramilitary civilian groups and criminal syndicates. |
Venezuela is especially dangerous for foreign travelers and investors who are visiting. The United States Department of State and the Government of Canada have warned foreign visitors that they may be subjected to robbery, kidnapping and murder, and that their own diplomatic travelers are required to travel in armored vehicles. The United Kingdom's Foreign and Commonwealth Office has advised against all travel to Venezuela. Visitors have been murdered during robberies. |
There are approximately 33 prisons holding about 50,000 inmates. Venezuela's prison system is heavily overcrowded; its facilities have capacity for only 14,000 prisoners. |
Human rights |
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Human rights organizations such as Human Rights Watch and Amnesty International have increasingly criticized Venezuela's human rights record, with the former organization noting in 2017 that the Chavez and subsequently the Maduro government have increasingly concentrated power in the executive branch, eroded constitutional human rights protections and allowed the government to persecute and repress its critics and opposition. Other persistent concerns as noted by the report included poor prison conditions, the continuous harassment of independent media and human rights defenders by the government. |
Corruption |
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Corruption in Venezuela is high by world standards and was so for much of the 20th century. The discovery of oil worsened political corruption. By the late 1970s, Juan Pablo Pérez Alfonso's description of oil as "the Devil's excrement" had become a common expression in Venezuela. The Corruption Perceptions Index has ranked Venezuela as one of the most corrupt countries since the survey started in 1995. The 2010 ranking placed Venezuela at number 164, out of 178 ranked countries in government transparency. By 2016, the rank had increased to 166 out of 178. The World Justice Project ranked Venezuela 99th out of 99 countries surveyed in its 2014 Rule of Law Index. |
This corruption is shown with Venezuela's significant involvement in drug trafficking, with Colombian cocaine and other drugs transiting Venezuela towards the United States and Europe. In the period 2003–2008 Venezuelan authorities seized the fifth-largest total quantity of cocaine in the world, behind Colombia, the United States, Spain and Panama. In 2006, the government's agency for combating illegal drug trade in Venezuela, ONA, was incorporated into the office of the vice-president. However, many major government and military officials have been known for their involvement with drug trafficking. |
Economy |
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Almost 82 per cent of Venezuelans live in poverty, with 53 per cent in extreme poverty, unable to buy even basic foodstuffs. |
– A UN special rapporteur said in February 2024 after visiting the country. |
"The formerly rich petro-state has seen GDP fall by 80 percent in less than a decade, driving some seven million of its citizens to flee. Most Venezuelans live on just a few dollars a month, with the health care and education systems in total disrepair and biting shortages of electricity and fuel" as of 2024, according to VOA (report from AFP). |
Venezuela has a market-based mixed economy dominated by the petroleum sector, which accounts for roughly a third of GDP, around 80% of exports, and more than half of government revenues. Per capita GDP for 2016 was estimated to be US$15,100, ranking 109th in the world. Venezuela has the least expensive petrol in the world because the consumer price of petrol is heavily subsidized. The private sector controls two-thirds of Venezuela's economy. |
Venezuela was ranked 136th out of 139 ranks in the Global Innovation Index in 2025 |
At least 5% of Venezuela's economy, as of 2022, relied on remittances. |
The Central Bank of Venezuela is responsible for developing monetary policy for the Venezuelan bolívar which is used as currency. The president of the Central Bank of Venezuela serves as the country's representative in the International Monetary Fund. The U.S.-based conservative think tank The Heritage Foundation claims Venezuela has the weakest property rights in the world, scoring only 5.0 on a scale of 100. Expropriation without compensation is not uncommon. |
As of 2011, more than 60% of Venezuela's international reserves was in gold, eight times more than the average for the region. Most of Venezuela's gold held abroad was located in London. In November 2011, the first of US$11 billion of repatriated gold bullion arrived in Caracas. Chávez called the repatriation of gold a "sovereign" step that will help protect the country's foreign reserves from the turmoil in the U.S. and Europe. Government policies quickly spent down this returned gold and in 2013 the government was forced to add the dollar reserves of state owned companies to those of the national bank to reassure the international bond market. |
Manufacturing contributed 17% of GDP in 2006. Venezuela manufactures and exports heavy industry products such as steel, aluminium and cement, with production concentrated around Ciudad Guayana, near the Guri Dam, one of the largest in the world and the provider of about three-quarters of Venezuela's electricity. Other notable manufacturing includes electronics and automobiles, as well as beverages, and foodstuffs. Agriculture in Venezuela accounts for approximately 3% of GDP, 10% of the labor force, and at least a quarter of Venezuela's land area. Venezuela is not self-sufficient in most areas of agriculture. |
Since the discovery of oil in the early 20th century, Venezuela has been one of the world's leading exporters of oil, and it is a founding member of OPEC. Previously an underdeveloped exporter of agricultural commodities, oil quickly came to dominate exports and government revenues. The 1980s oil glut led to an external debt crisis and a long-running economic crisis, which saw inflation peak at 100% in 1996. The 1990s also saw Venezuela experience a major banking crisis in 1994. |
The recovery of oil prices after 2001 boosted the Venezuelan economy and facilitated social spending. With social programs such as the Bolivarian Missions, Venezuela initially made progress in social development in the 2000s, particularly in areas such as health, education, and poverty. Many of the social policies pursued by Chávez and his administration were jump-started by the Millennium Development Goals, eight goals that Venezuela and 188 other nations agreed to in September 2000. The sustainability of the Bolivarian Missions has been questioned due to the Bolivarian state's overspending on public works and because the Chávez government did not save funds for future economic hardships, with economic issues and poverty rising as a result of their policies in the 2010s. |
In 2003, the government of Hugo Chávez implemented currency controls after capital flight led to a devaluation of the currency. This led to the development of a parallel market of dollars in the subsequent years. The Great Recession led to a renewed economic downturn. Despite controversial data shared by the Venezuelan government showing that the country had halved malnutrition following one of the UN's Millennium Development Goals, shortages of staple goods began to occur in Venezuela and malnutrition began to increase. |
In early 2013, Venezuela devalued its currency due to growing shortages in the country. The shortages included, and still include, necessities such as toilet paper, milk, and flour. Fears rose so high due to the toilet paper shortage that the government occupied a toilet paper factory, and continued plans to nationalize other industrial aspects like food distribution. |
Venezuela's bond ratings have also decreased multiple times in 2013 due to decisions by the president Nicolás Maduro. In 2016, consumer prices in Venezuela increased 800% and the economy declined by 18.6%, entering an economic depression. Venezuela's outlook was deemed negative by most bond-rating services in 2017. For 2018 an inflation rate of 1,000,000 percent was projected, putting Venezuela in a similar situation to that in Germany in 1923 or Zimbabwe in the late 2000s. |
Tourism |
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Tourism has been developed considerably in recent decades, particularly because of its favorable geographical position, the variety of landscapes, the richness of plant and wildlife, the culture and the tropical climate. |
Margarita Island is one of the top tourist destinations. It is an island with a modern infrastructure, bordered by beaches suitable for extreme sports, and features castles, fortresses and churches of great cultural value. |
Los Roques Archipelago is made up of a set of islands and keys that constitute one of the main tourist attractions in the country. With exotic crystalline beaches, Morrocoy is a national park, formed by small keys very close to the mainland, which have grown rapidly as one of the greatest tourist attractions in the Venezuelan Caribbean. |
Canaima National Park extends over 30,000 km2 to the border with Guyana and Brazil; due to its size it is considered the sixth largest national park in the world. Its steep cliffs and waterfalls (including Angel Falls, which is the highest waterfall in the world, at 1,002 m) form spectacular landscapes. |
The state of Mérida is one of the main tourist centers of Venezuela. It has an extensive network of hotels not only in its capital city, but also throughout the state. Starting from the same city of Mérida is the longest and highest cable car in the world, which reaches the Pico Espejo of 4,765 m. |
Shortages |
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Shortages in Venezuela have been prevalent following the enactment of price controls and other policies during the economic policy of the Hugo Chávez government. Under the economic policy of the Nicolás Maduro government, greater shortages occurred due to the Venezuelan government's policy of withholding United States dollars from importers with price controls. |
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