- Capital City: Caracas
- General Information Official Language: Spanish
- Currency: Venezuelan Bolívar, VES
- Population (2024): 2.84 crores (2024)
Political Overview
Government Type
Presidential system, Federal republic
Key Leaders
- President Nicolás Maduro
- Vice President Delcy Rodríguez
Political Stability Index
-1.2
International Alliances
- UN, OAS (limited participation), CELAC, WTO, BRICS (effective 2024), G77, Non-Aligned Movement (NAM), Amazon Cooperation Treaty Organization (ACTO)
Economic Overview
GDP (Nominal)
$102.328 billion
GDP (PPP)
$210.82 billion (PPP)
Key Industries
- agricultural products
- livestock
- raw materials
- machinery and equipment
- transport equipment
- construction materials
- medical equipment
- pharmaceuticals
- chemicals
- iron and steel products
- crude oil and petroleum products
Top 5 Importers/Exporters
Exports: China 16%, Turkey 14%, Spain 12%, US 10%, Brazil 8% ; Imports: China 31%, US 23%, Brazil 14%, Colombia 7%, Turkey 4% (2022)
Social Indicators
Human Development Index
0.699 (Rank: 119)
Literacy Rate
0.975
Life Expectancy
74.5 years (2024 est.)
Geopolitical Relevance
Strategic Location
Holds one of the world’s largest oil reserves and Caribbean coastline facilitates energy exports
Key Conflicts
1. Long-standing tensions between Venezuela and Colombia over their border, particularly around the dispute over the ownership of the Gulf of Venezuela
Border Issues
1. Venezuela claims the Essequibo region, which is part of Guyana, due to historical territorial agreements made during British colonial rule.
Military Strength
military personnel – ~125,000, defense spending – 1.5% of GDP ($5 billion), alliances – OAS (limited participation), BRICS (effective 2024), UN Peacekeeping
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