Venezuela

Situated on the northern shoulder of South America and bordered by the Caribbean Sea and the North Atlantic Ocean, Venezuela is a federal presidential republic marked by striking geographic diversity, immense hydrocarbon wealth, and complex political evolution. Its landscape ranges from the Andes Mountains and the Maracaibo Basin in the northwest to the Llanos plains and Guiana Highlands in the southeast, encompassing ecosystems from tropical rainforests to coastal mangroves. The nation’s economy has long revolved around petroleum, which has shaped both prosperity and instability, while its society remains vibrant, urbanised, and ethnically diverse.

Historical Background and Political Context

Modern Venezuela emerged as a sovereign state in 1830, following the dissolution of Gran Colombia, which had united present-day Colombia, Ecuador, and Venezuela. Throughout much of the early twentieth century, the country was governed by military strongmen, including Juan Vicente Gómez (1908–1935), whose authoritarian rule coincided with the rise of Venezuela as a major oil-producing nation.
After a series of military governments, civilian democracy was restored in 1958 under the Pacto de Punto Fijo, an agreement among leading political parties to maintain democratic stability. For four decades, the country enjoyed relative political continuity and prosperity, fuelled by oil revenues managed through the state firm Petróleos de Venezuela S.A. (PDVSA).
The late twentieth century, however, brought economic crises, declining oil prices, and political disillusionment. In 1999, Hugo Chávez assumed the presidency, initiating the Bolivarian Revolution, which centralised power, nationalised industries, and promoted expansive social programmes financed by oil exports. Chávez’s government redefined Venezuela’s constitution, expanding presidential powers and introducing participatory rhetoric that reshaped domestic and regional politics.
Upon Chávez’s death in 2013, his successor Nicolás Maduro maintained the ruling movement’s dominance but faced intensifying economic collapse, hyperinflation, and international sanctions. The 2018 presidential election, widely considered fraudulent, deepened the legitimacy crisis. Subsequent legislative elections (2020) further consolidated pro-government control, though partial opposition participation resumed in 2021 regional contests.
The 2024 presidential election reignited dispute, with official results declaring Maduro victorious but opposition and international observers asserting that Edmundo González had won. In 2025, the National Assembly—expanded to 277 members—continued to reflect competing claims to authority, with women occupying 32.1% of seats. The constitution of 1999 remains formally in force, affirming universal suffrage at 18 and a civil-law legal system, though separation of powers and judicial independence remain contested.

Territory, Location, and Physical Geography

Venezuela spans 912,050 square kilometres, bordered by Brazil (2,137 km), Colombia (2,341 km), and Guyana (789 km), with a 2,800 km coastline on the Caribbean and Atlantic. Its geographic coordinates are approximately 8°N, 66°W. The nation’s physiography divides into four major regions:

• The Andean Highlands, containing Pico Bolívar (4,978 m), the highest point;
• The Maracaibo Basin, a lowland region centred on Lago de Maracaibo;
• The Llanos, extensive tropical grasslands crucial for agriculture and cattle;
• The Guiana Highlands, an ancient geological plateau hosting tepui mesas such as Auyán Tepui, from which Angel Falls (979 m)—the world’s highest uninterrupted waterfall—descends.

The Orinoco River (2,101 km), one of South America’s great waterways, drains vast interior plains and supports hydroelectric power. The climate is tropical, hot and humid in lowlands but moderated at higher altitudes.
Natural hazards include floods, mudslides, and periodic droughts, while environmental degradation manifests in deforestation, soil erosion, and industrial water pollution. Forests cover about 52.3% of the land, with 24.4% devoted to agriculture. Rich mineral and energy resources include petroleum, natural gas, iron ore, bauxite, gold, and diamonds, alongside major hydropower capacity centred on the Guri Dam.

Population, Society, and Human Development

Venezuela’s population in 2024 is estimated at 31.25 million, with a median age of 31 years and an annual growth rate of 2.34%. Urbanisation reaches 88.4%, reflecting extensive migration to cities. Caracas, the capital, remains the largest metropolitan area (2.97 million inhabitants), followed by Maracaibo, Valencia, Barquisimeto, Maracay, and Ciudad Guayana.
Age distribution: 0–14 years (25%), 15–64 (65.9%), 65+ (9.1%).Life expectancy: 74.5 years (male 71.5, female 77.7).Infant mortality: 13.9 deaths per 1,000 live births (2024).Maternal mortality: 227 per 100,000 births (2023).
Languages and religion: Spanish is spoken by 98.2% of the population; indigenous languages persist in Amazonian and Andean communities. The population identifies as Roman Catholic (48.1%), Protestant (31.6%), and non-religious (13.6%).
Education and health: Literacy is approximately 97%. Access to drinking water (93.3%) and sanitation (98.4%) is widespread, though infrastructure reliability has declined. Health expenditure stands near 4% of GDP, with 1.66 physicians per 1,000 residents. The prolonged crisis has prompted massive emigration, with nearly eight million Venezuelans residing abroad, constituting one of the largest displacement movements in modern Latin America.

State, Symbols, and International Engagement

Officially titled the Bolivarian Republic of Venezuela (República Bolivariana de Venezuela), independence was proclaimed on 5 July 1811. The flag consists of horizontal yellow, blue, and red bands, with eight white stars representing historic provinces and the Guayana region, plus the coat of arms at the hoist. The national anthem, “Gloria al bravo pueblo” (“Glory to the Brave People”), was adopted in 1881. National symbols include the troupial bird and the colours yellow, blue, and red.
Venezuela is active in numerous international organisations, including the UN, OAS, OPEC, CELAC, IMF, WTO, and the World Bank group. Diplomatic representation to the United States is conducted via a Venezuela Affairs Unit in Bogotá, as bilateral relations remain suspended.

Economy and Finance

Venezuela’s economy remains resource-dependent, dominated by petroleum exports. The 2010s saw hyperinflation, a 70% collapse in GDP, and widespread shortages, followed by gradual stabilisation amid partial dollarisation and limited sanctions relief.
Key economic indicators (2023–2024):

• GDP (real, 2015 dollars): $110.9 billion
• GDP per capita: $4,900
• Inflation: 200.9% (2022)
• Unemployment: 5.5% (2024); youth 10.6%
• Poverty (2015 est.): 33.1% of population
• Labour force: 11.1 million

Trade structure:

• Exports: crude oil, petroleum coke, scrap metals, alcohols, fertilisers
• Imports: refined petroleum, maize, soybean meal, plastics, vehicle parts
• Export partners: United States (50%), China (10%), Spain (9%), Brazil (6%), Turkey (5%)
• Import partners: China (35%), United States (24%), Brazil (12%), Colombia (7%), Turkey (4%)

Petroleum continues to underpin fiscal and foreign-exchange revenues, with household spending dominated by food (52%), underscoring economic fragility.

Energy and Natural Resources

Venezuela holds the world’s largest proven oil reserves, estimated at 303.8 billion barrels (2021), and natural gas reserves exceeding 5.6 trillion cubic metres.
Production and capacity (2023):

• Oil output: 801,000 barrels/day
• Domestic use: 203,000 barrels/day
• Natural gas output and use: 23.9 bcm
• Electricity generation: 33.49 GW capacity, with 78.3% hydropower (mainly the Guri complex)
• Fossil fuels: 21.6% of capacity
• Coal output: 149,000 tonnes

Energy infrastructure suffers from underinvestment, contributing to blackouts, losses (25.8 billion kWh), and constrained exports. Venezuela emitted 76.7 million tonnes of CO₂ (2023) and records PM₂.₅ concentrations around 16 μg/m³.

Communications, Media, and the Internet

Communications are widespread but unevenly maintained. As of 2022, there were 2.68 million fixed-line and 18.8 million mobile subscriptions, with broadband access (2.7 million lines) expanding slowly. The state exercises significant control over broadcast and digital media, though private and community outlets continue to operate.

Transport, Ports, and Aviation

Venezuelan civil aircraft bear the prefix YV. The country has 509 airports and 88 heliports (2025), including major international hubs at Caracas (Maiquetía), Maracaibo, and Valencia. The rail network covers 447 km, with 41.4 km electrified.
The merchant fleet (2023) includes 272 vessels, largely oil tankers and general cargo carriers. Among 31 active ports, key facilities include Puerto Cabello, La Guaira, Maracaibo, Guanta, Puerto Ordaz, Amuay, and Puerto La Cruz, many associated with oil export operations.

Defence and Internal Security

The Bolivarian National Armed Forces (FANB) comprise five branches: Army, Navy, Air Force, National Guard, and Bolivarian Militia, supported by the Presidential Honour Guard. Total personnel number between 125,000–150,000, plus around 200,000 militia members (2025).
Defence spending: 0.6% of GDP (2024).The FANB retains a prominent political and economic role, including involvement in state-owned enterprises. The National Guard is charged with public order and border control, while the Bolivarian National Police (PNB) and Special Action Forces (FAES) address domestic security. Equipment is primarily Russian- and Chinese-origin, with cooperation links to Iran.

Space Activities

The Bolivarian Agency for Space Activities (ABAE), founded in 2007, manages a modest national programme comprising two satellite ground stations and partnerships with China and Russia. Operations focus on remote sensing, communications, and disaster management.

Transnational Issues, Migration, and Security Challenges

Venezuela is a major transit point for illicit narcotics and precursor chemicals. Armed groups, including ELN, FARC-EP, Segundo Marquetalia, and Tren de Aragua, operate near borders, complicating security management. The country hosts around 20,911 refugees and 2,338 internally displaced persons (2024).
Internationally, Venezuela remains on Tier 3 of the US Trafficking in Persons Report, indicating minimal compliance with anti-trafficking standards. Regional migration remains a defining issue, with millions of Venezuelans settled in Colombia, Peru, Ecuador, Chile, Brazil, and beyond, creating one of the world’s largest ongoing displacement crises.