Venezuela

Venezuela sits on the northern coast of South America. In the United Nations statistical framework, it carries UN M49 code 862, ISO alpha-2 code VE and ISO alpha-3 code VEN. The UN assigns Venezuela to the Americas region and the Latin America and the Caribbean subregion, and it is a UN member state. The World Bank lists Caracas as the capital. These classification facts come from the UN M49 standard and the World Bank country API, not from any political position about territorial claims or government legitimacy.

Country basics

Capital: Caracas (World Bank country profile).

Country code: UN M49 code 862; ISO alpha-2 VE; ISO alpha-3 VEN. The M49 overview is the authoritative reference for these codes. IANA maintains the .ve domain and time zone data (America/Caracas) for technical use.

Region in UN classification: Americas; subregion Latin America and the Caribbean. The UN M49 classification is statistical, not political; it does not determine territorial claims or sovereignty.

UN membership: Venezuela is a founding member of the United Nations (1945).

Surface area: The World Bank and UN sources give the total surface area (land plus inland water). Because boundary definitions and data revisions change, always cite the year of the figure you use. For the latest surface area, use the World Bank country API and note the reference year.

How to verify population figures

Population figures change annually. The United Nations Population Division publishes World Population Prospects, the standard source for national estimates, with a reference year and a projection variant. The World Bank also provides data through its country API. The most recent census may be older than the latest estimate; always label the figure as an estimate, not a census count, and cite the source year.

Figures for Venezuela are contested because of large-scale emigration since 2015 and the absence of a recent national census; the last census was 2011. The UN Population Division publishes annual estimates; the World Bank API returns the most recent modelled estimate. Always cite the exact dataset and year. For example, World Bank data uses the mid-year estimate definition and is revised when new censuses or surveys appear. Do not freeze a single figure as “the” population. For the latest numbers, consult the UN Population Division or the World Bank’s country profile page. Venezuela’s national statistics are maintained by the Instituto Nacional de Estadística (INE), but international estimates from the UN and World Bank may differ due to migration patterns and data collection gaps.

Language

Venezuela is predominantly Spanish-speaking. The 1999 Constitution recognises Spanish as the nation’s official tongue and also recognises indigenous languages for use among indigenous peoples. For demographic breakdowns of language use, consult the national statistical office or UNESCO education and culture statistics. Language data is not updated frequently; the most recent reliable figures come from national censuses and surveys, not from a single global dataset. The 2011 census recorded indigenous language speakers, including Wayuu, Warao and Pemón, but the intercensal situation is unclear. English is not widely spoken; travellers should not assume English will be understood outside major hotels or business contexts.

Currency

The currency has changed multiple times in recent decades due to economic instability. As of the most recent change, the bolívar is the currency, but denominations and names have been reissued several times. Since the 2021 redenomination, the bolívar has been issued as the bolívar digital; check the central bank (Banco Central de Venezuela) for the active currency code, denominations and any new monetary expression. Do not assume the old bolívar (VEB) or the bolívar fuerte (VEF) are current; monetary reforms have occurred multiple times. Because the monetary situation can change quickly, do not rely on any static figure. Verify the currency code and ISO 4217 status through the International Organization for Standardization (ISO) or the Central Bank of Venezuela, and confirm exchange rates from a financial data source. The reference year for any currency figure must be stated explicitly.

Government and politics

Venezuela is a federal presidential republic; the president is both head of state and head of government. The 1999 constitution defines a participatory democracy. Political conditions have been disputed since 2019, with competing claims to the presidency. Since 2015, the National Assembly has been controlled by opposition parties; since 2017, the legitimacy of Nicolás Maduro’s government has been disputed internationally. In 2019, the National Assembly declared Juan Guaidó interim president, creating a dual-government situation. The United States and many Western countries recognised Guaidó; the Maduro government retained control of state institutions and was recognised by several other governments. By 2023, the political landscape remained contested, with different governments claiming legitimacy and international recognition divided. The situation is fluid; consult your own government’s foreign affairs guidance for the latest position.

Economy

The economy is dominated by oil, which accounts for the vast majority of export revenues and government income. Venezuela’s economy has experienced prolonged contraction, hyperinflation and a major humanitarian crisis since the mid-2010s. Since 2019, the United States and other countries imposed sanctions on PDVSA, the state oil company. The economy has undergone partial dollarization, with US dollars widely used alongside the bolívar.

The Central Bank of Venezuela publishes statistics, but independent economists often treat recent GDP, inflation and poverty figures with caution. World Bank data for Venezuela has gaps; the most recent complete World Bank country profile may lag by several years. The IMF publishes Article IV reports and WEO data with explicit methodology notes. For any economic comparison, state the source dataset and the reference year; do not mix nominal GDP, GDP (PPP) or different vintages of the same series.

In 2024, the IMF estimated GDP growth around 4.0% (IMF World Economic Outlook, October 2024). Inflation has fallen dramatically from hyperinflationary levels but remained very high by global standards; the IMF estimated inflation around 200% for 2024. GDP per capita (PPP) was around $14,000 in 2024 (IMF estimate). The economy remains highly dependent on oil exports, with significant informal sector activity.

Culture and heritage

The cultural landscape reflects a mix of Indigenous, African and European influences, visible in music, food and religious practices. Venezuela has a rich cultural heritage including Afro-Venezuelan traditions, the Diablo danzante de Yare festival and the national instrument, the cuatro. The nation has three UNESCO World Heritage Sites: Coro and its Port, Ciudad Universitaria de Caracas and Canaima National Park. For authoritative cultural statistics and heritage listings, UNESCO provides data on world heritage sites and intangible cultural heritage. The Venezuelan diaspora has spread across Latin America, the United States and Spain, creating transnational communities that maintain cultural practices abroad.

Geography and territorial disputes

Venezuela borders Colombia to the west, Brazil to the south and Guyana to the east. It has a Caribbean coastline to the north. Its territory includes the Amazon rainforest, the Andes, the Llanos plains and the Caribbean coastline. The nation also claims the Essequibo region, which is administered by Guyana; this is a long-standing territorial dispute. Venezuela’s claim to the Essequibo region is disputed by Guyana, and the International Court of Justice (ICJ) has been involved in the legal process. Political or territorial claims, such as the dispute over the Guayana Esequiba area, are matters of international law and should be attributed to the relevant governments and not treated as settled facts.