Overview of Venezuela

Profile

Venezuela faces the Caribbean Sea and the Atlantic Ocean and boasted one of South America's leading economies until the mid-20th century, based on abundant oil resources. Divided into four major regions - the northern coastal plains, the Andes Mountains, the vast Llanos, and the Guiana Highlands - it features diverse ecosystems. In recent years, it faces challenges with economic crisis and political confrontation, while natural tourism resources such as Salto Angel and Los Roques Archipelago attract popularity. As a multi-ethnic country, its food culture and music are rich, and joropo, salsa, and El Sistema music education are internationally known.

Official name: Bolivarian Republic of Venezuela
Common name: Venezuela
Numeric code: 862
Alpha-3 code: VEN
Alpha-2 code: VE
Population: Approximately 28.2 million (2023)
Population density: Approximately 31 people/km2
Primary languages: Spanish
Major religions: Roman Catholic, Protestant, Indigenous traditional religions
National anthem: Gloria al Bravo Pueblo (Glory to the Brave People)
Calling code: +58
Internet TLD: .ve

History

Declared independence from Spain in 1811 and became the center of the South American liberation movement under the leadership of liberator Simón Bolívar.

During the Spanish colonial period, it prospered from cacao and the slave trade. After the 19th-century independence war, military dictatorship and civil war continued for a long time, but the discovery of oil (1914) transformed the economic structure. Democratic system was established in 1958, and since the Chávez administration in 1999, it has shifted to a socialist line advocating the 'Bolivarian Revolution.' Social reforms were promoted with abundant oil revenues and nationalization policies, but with falling oil prices and sanctions, the economy plummeted sharply, and in recent years, hyperinflation and mass emigration have become problems.

Geography & climate

From northern coastal plains to the Andes Mountains, central grassland Llanos, and southern Guiana Highlands, with large elevation differences and diverse ecosystems coexisting.

Mix of tropical savanna climate and mountain climate

Area: South America / 916445 km²
Capital: Caracas
Largest city: Caracas
Coastal status: Yes
Major lakes: Lake Maracaibo
Bordering countries: Colombia, Brazil, Guyana

Natural resources

Crude oil, Natural gas, Iron ore, Bauxite, Gold, Diamond, Hydropower resources, Uranium, Nickel, Phosphate rock, Forests, Tourism resources (tepuis), Fishery resources, Fertile alluvial soil

Politics

Government: Presidential Republic (Federal System)

Economy

Currency: Bolívar Soberano (VES)

GDP (nominal): 15 billion USD (2023)

GDP (PPP): 210 billion USD (2023)

Language & timezone

Primary languages: Spanish

Time zone: Venezuela Time

Culture & customs

Ethnic groups

Mestizo, European descent (Spanish, Italian, etc.), Afro-descendant, Indigenous, Arab descent (Lebanese, Syrian), Asian descent (Chinese, etc.)

Life expectancy

72.0 years (2022 estimate)

Literacy rate

97%

National sports

Baseball, Soccer, Basketball, Boxing, Softball, Volleyball