Venezuela

Bolivarian Republic of Venezuela República Bolivariana de Venezuela (Spanish)
Flag Coat of arms
Motto: Dios y Federación ("God and Federation")
Anthem: Gloria al Bravo Pueblo (Spanish) ("Glory to the Brave People")
Location on the Western Hemisphere Show region with labels Territory controlled by Venezuela shown in dark green; territory claimed but not controlled shown in light green
Capital and largest city	Caracas 10°30′N 66°55′W / 10.500°N 66.917°W / 10.500; -66.917
Official languages	Spanish[b]
Recognized regional languages	26 languages Piapoco Baniwa Locono Wayúu Warao Pemón Panare Yek'uana Yukpa Carib Akawaio Japrería Mapoyo Yawarana Hodï Puinave Jivi Barí Uruak Sapé Pumé Piaroa Yanomamö Sanemá Yanam Yeral
Ethnic groups (2011)[1]	51.6% Multiracial 43.6% White 3.6% Afro-Venezuelan 1.2% others
Religion (2020)[2]	92.6% Christianity —80.5% Roman Catholic —11.2% Protestant —0.9% other Christian 5.5% no religion 1.1% Spiritism 0.8% others
Demonym(s)	Venezuelan
Government	Federal presidential republic under a centralized authoritarian state[3][4][5][6]
• President	Nicolás Maduro
• Vice President	Delcy Rodríguez
Legislature	National Assembly
Independence from Spain
• Declared	5 July 1811
• from Gran Colombia	13 January 1830
• Recognized	29 March 1845
• Current constitution	20 December 1999[7]
Area
• Total	916,445[8] km2 (353,841 sq mi) (32nd)
• Water (%)	3.2%[d]
Population
• 2023 estimate	30,518,260[9] (50th)
• Density	33.74/km2 (87.4/sq mi) (144st)
GDP (PPP)	2023 estimate
• Total	$211.926 billion[10] (81st)
• Per capita	$7,985[10] (159th)
GDP (nominal)	2023 estimate
• Total	$92.210 billion[10] (94th)
• Per capita	$3,474[10] (145th)
Gini (2013)	44.8[11] medium
HDI (2022)	0.699[12] medium (119th)
Currency	Venezuelan bolívar (official) United States dollar (de facto recognised, unofficial)
Time zone	UTC−4 (VET)
Date format	dd/mm/yyyy (CE)
Driving side	right
Calling code	+58
ISO 3166 code	VE
Internet TLD	.ve
^ The "Bolivarian Republic of Venezuela" has been the full official title since the adoption of the Constitution of 1999, when the state was renamed in honor of Simón Bolívar. ^ The Constitution also recognizes all indigenous languages spoken in the country. ^ Some important subgroups include those of Spanish, Portuguese, Italian, Amerindian, African, Arab and German descent. ^ Area totals include only Venezuelan-administered territory. ^ On 1 October 2021, a new bolivar was introduced, the Bolívar digital (ISO 4217 code VED) worth 1,000,000 VES.

Venezuela,^[a] officially the Bolivarian Republic of Venezuela,^[b] is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. Venezuela comprises an area of 916,445 km² (353,841 sq mi), and its population was estimated at 29 million in 2022.^[13] The capital and largest urban agglomeration is the city of Caracas.

The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana. Venezuela is a presidential republic consisting of 23 states, the Capital District and federal dependencies covering Venezuela's offshore islands. Venezuela is among the most urbanized countries in Latin America;^[14][15] the vast majority of Venezuelans live in the cities of the north and in the capital.

The territory of Venezuela was colonized by Spain in 1522 amid resistance from Indigenous peoples. In 1811, it became one of the first Spanish-American territories to declare independence from the Spanish and to form part of the first federal Republic of Colombia (Gran Colombia). It separated as a full sovereign country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional military dictators until the mid-20th century. Since 1958, the country has had a series of democratic governments, as an exception where most of the region was ruled by military dictatorships, and the period was characterized by economic prosperity. Economic shocks in the 1980s and 1990s led to major political crises and widespread social unrest, including the deadly Caracazo riots of 1989, two attempted coups in 1992, and the impeachment of a President for embezzlement of public funds charges in 1993. The collapse in confidence in the existing parties saw the 1998 Venezuelan presidential election, the catalyst for the Bolivarian Revolution, which began with a 1999 Constituent Assembly, where a new Constitution of Venezuela was imposed. The government's populist social welfare policies were bolstered by soaring oil prices,^[16] temporarily increasing social spending,^[17] and reducing economic inequality and poverty in the early years of the regime.^[18] However, poverty began to rapidly increase in the 2010s.^[19][20] The 2013 Venezuelan presidential election was widely disputed leading to widespread protest, which triggered another nationwide crisis that continues to this day.^[21] Venezuela has experienced democratic backsliding, shifting into an authoritarian state.^[22] It ranks low in international measurements of freedom of the press and civil liberties and has high levels of perceived corruption.^[23]

Venezuela is a developing country having the world's largest known oil reserves and has been one of the world's leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues. The excesses and poor policies of the incumbent government led to the collapse of Venezuela's entire economy.^[24][25] The country struggles with record hyperinflation,^[26][27] shortages of basic goods,^[28] unemployment,^[29] poverty,^[30] disease, high child mortality, malnutrition, severe crime and corruption. These factors have precipitated the Venezuelan refugee crisis where more than seven million people have fled the country.^[31] By 2017, Venezuela was declared to be in default regarding debt payments by credit rating agencies.^[32][33] The crisis in Venezuela has contributed to a rapidly deteriorating human rights situation. 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).

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