Country Profile: Venezuela

Venezuela is located in Northern South America, bordered by the Caribbean Sea and the North Atlantic Ocean, sharing land borders with Colombia and Guyana. With a population of approximately 31.3 million, the country has experienced significant socio-economic challenges, largely attributed to authoritarian governance and economic mismanagement. The economy heavily relies on oil exports, and despite having vast natural resources, it faces ongoing hyperinflation and infrastructure issues. Governance is marked by a federal presidential republic structure, though political opposition is marginalized, leading to widespread human rights concerns.

Geography

Venezuela occupies an area of approximately 912,050 square kilometers, making it almost six times the size of Georgia and housing diverse topographies including the Andes Mountains and the Guiana Highlands. The country's climate is tropical, characterized by high humidity, with varying temperatures in the highlands. Major natural resources include petroleum, natural gas, iron ore, and bauxite.

912,050 sq km - total area
2,800 km - coastline length
4,978 m - highest point (Pico Bolivar)
53.5% - forested land
24.4% - agricultural land

People and Society

As of 2024, Venezuela has an estimated population of approximately 31.3 million, with a majority residing in urban areas, particularly in Caracas. The population is ethnically diverse, primarily comprising Spanish, Italian, Portuguese, Arab, German, African, and Indigenous backgrounds. Spanish is the official language, and the predominant religions are Roman Catholicism and Protestantism.

31,250,306 - estimated population (2024)
88.4% - urban population
97.2% - literacy rate (2017)
74.5 years - life expectancy at birth (2024)
16.7 births/1,000 - birth rate (2024)

Economy

Venezuela's economy is in turmoil, compounded by hyperinflation since the mid-2010s and a heavy reliance on oil exports. The estimated real GDP for 2023 stands at $110.943 billion, with a per capita GDP of $4,900. The country is also experiencing significant labor market challenges, with a 5.5% unemployment rate.

$110.943 billion - real GDP (2023)
$4,900 - GDP per capita (2023)
5.5% - unemployment rate (2024)
33.1% - population below the poverty line (2015)
52% - average household expenditures on food (2023)

Government

Venezuela operates as a federal presidential republic, with Nicolas Maduro serving as President since 2013. The country's governance has been characterized by political unrest, allegations of election fraud, and authoritarian practices that have led to significant changes in the electoral landscape.

Nicolas Maduro - current president since April 2013
Constitution adopted - December 15, 1999
Universal suffrage - at 18 years of age
277 seats - in National Assembly
5 years - term length for National Assembly members

Military and Security

The military in Venezuela comprises the Bolivarian National Armed Forces, which includes army, navy, and air forces, with a total personnel strength estimated at 125,000-150,000. The country allocates around 0.6% of its GDP to military expenditures.

125,000-150,000 - active military personnel (2025)
0.6% - military expenditures as a percentage of GDP (2024)
272 - total merchant marine vessels (2023)
200,000 - estimated strength of Bolivarian Militia (2025)

Energy

Venezuela boasts significant energy resources, particularly in oil and natural gas sectors. The installed electricity generating capacity is estimated at 33.493 million kW for 2023, with a reliance on hydroelectric power for 78.3% of its capacity.

33.493 million kW - installed electricity generating capacity (2023)
801,000 bbl/day - total petroleum production (2023)
25.849 billion kWh - transmission/distribution losses (2023)
100% - electrification rate (total population, 2022)

Environment

Venezuela faces various environmental challenges, including deforestation, soil degradation, and urban pollution. The country is a party to several international environmental agreements, emphasizing its commitment to addressing climate change and biodiversity.

93.3% - population with access to improved drinking water (2022)
76.73 million metric tonnes - total CO2 emissions (2023)
21.3% - percent of municipal solid waste recycled (2022)

Transportation

The transportation infrastructure includes 509 airports and a network of railways and ports. Venezuela's civil aircraft registration code is YV, and the country has a substantial merchant marine fleet.

509 - total airports (2025)
447 km - total railway length (2014)
272 - total merchant marine vessels (2023)

Communications

Venezuela has a mixed telecommunications environment with both state-run and private entities. Approximately 62% of the population are internet users, and mobile cellular subscriptions reach around 18.8 million.

18.8 million - mobile cellular subscriptions (2022)
2.7 million - broadband fixed subscriptions (2022)
10 - fixed line subscriptions per 100 inhabitants (2022)

Key Metrics

Metric	Value	Note
Population	31,250,306	Estimated population (2024)
Area	912,050 sq km	Total area of the country
GDP (PPP)	$110.943 billion	Estimated for 2023
Unemployment Rate	5.5%	Estimated for 2024
Birth Rate	16.7 births/1,000 population	Estimated for 2024
Life Expectancy at Birth	74.5 years	Estimated for 2024
Energy Consumption per Capita	54.474 million Btu/person	Estimated for 2023
Electrification Rate	100%	Total population (2022)
Military Expenditures	0.6% of GDP	Estimated for 2024
Total CO2 Emissions	76.73 million metric tonnes	Estimated for 2023