Venezuela: general information about country, happiness index 2024

World Happiness Report for Venezuela 2024

  • Overall Happiness Rank Venezuela: 79
  • Happiness Score Venezuela:5.607

Happiness is a subjective concept that has long been debated by philosophers, psychologists, and economists alike. However, in recent years, there has been a growing interest in quantifying happiness and using it as a measure of a nation’s overall well-being. This is where the concept of the Happiness Index comes into play.

What is the Happiness Index?

The Happiness Index is a measure that attempts to quantify the overall happiness and life satisfaction of a country’s population. It is based on the idea that traditional economic indicators, such as Gross Domestic Product (GDP), do not fully capture the overall well-being of a society. The Happiness Index takes into account various factors that contribute to an individual’s sense of happiness and life satisfaction, including social support, freedom to make life choices, healthy life expectancy, and perceptions of corruption.

How is the Happiness Index Calculated?

The Happiness Index is calculated through a combination of subjective and objective data. The primary source of data is the Gallup World Poll, which is a survey conducted in over 160 countries. The survey asks respondents to rate their overall life satisfaction on a scale of 0 to 10, with 0 being the worst possible life and 10 being the best possible life.

In addition to the life satisfaction score, the Happiness Index also takes into account the following factors:

  1. GDP per capita: This is a measure of a country’s economic output and standard of living.
  2. Social support: This factor measures the extent to which individuals have supportive relationships and love in their lives.
  3. Healthy life expectancy: This is a measure of the number of years an individual is expected to live in good health.
  4. Freedom to make life choices: This factor measures the extent to which individuals are able to make decisions about their lives without external constraints.
  5. Generosity: This factor measures the extent to which individuals engage in charitable activities and donate to others.
  6. Perceptions of corruption: This factor measures the extent to which individuals perceive their society to be free from corruption.

These factors are weighted and combined to produce an overall Happiness Index score for each country.

What Does the Happiness Index Affect?

The Happiness Index has significant implications for policymaking and societal well-being. Countries with higher Happiness Index scores are generally considered to have better overall quality of life and well-being for their citizens. This can have positive impacts on various aspects of society, including:

  1. Economic productivity: Happier individuals tend to be more productive and engaged in their work, which can contribute to a country’s economic growth.
  2. Public health: Higher levels of happiness and life satisfaction are associated with better physical and mental health outcomes, which can reduce healthcare costs and improve overall well-being.
  3. Social cohesion: Societies with higher levels of happiness tend to have stronger social bonds and lower levels of conflict and crime.
  4. Environmental sustainability: Happier individuals may be more likely to engage in environmentally-friendly behaviors and support policies that promote sustainability.

By focusing on the factors that contribute to happiness and well-being, policymakers can develop strategies to improve the overall quality of life for their citizens. The Happiness Index provides a valuable tool for measuring progress and identifying areas where improvements can be made.

Short information

  • Abbreviation of Venezuela. VE.

    Venezuela is known for its rich cultural heritage, including traditional music and dance such as joropo and salsa.

  • has a presidential republic political structure with a multi-party system.
  • is a major oil-producing country and member of OPEC.
  • Venezuela – A Comprehensive Overview

    Early History

    The territory of present-day Venezuela was originally inhabited by indigenous groups such as the Caribs, Arawaks, and Chibchas. The first European explorer to reach the region was Christopher Columbus in 1498, during his third voyage to the Americas.

    Kingdoms and Empires

    Prior to the arrival of the Spanish, the region was home to several indigenous civilizations, including the Caracas, Cumanagoto, and Chaimas. However, no large-scale kingdoms or empires emerged in the area that is now Venezuela.

    Colonial Period

    Venezuela was colonized by Spain in the early 16th century. The first permanent Spanish settlement was established in 1522 on the island of Cubagua, and the colonial province of Venezuela was established in 1528. The region was governed by the Spanish Empire until the early 19th century.

    Independence and Modern Era

    Venezuela gained independence from Spain in 1811, after a series of revolutions led by Simón Bolívar and other revolutionary leaders. However, the country experienced political instability and civil wars throughout the 19th century. In the 20th century, Venezuela experienced periods of democratic governance and military dictatorships, as well as a significant economic boom fueled by its oil reserves.

    Current Political Situation

    Venezuela is currently governed by a authoritarian regime under President Nicolás Maduro, who took power in 2013 after the death of Hugo Chávez. The country has faced severe economic and humanitarian crises, as well as political unrest and international isolation.

    International Relations

    Venezuela has strained relations with many Western nations, including the United States, due to its authoritarian policies and human rights violations. It maintains closer ties with countries like Cuba, Russia, and China. The country has also faced sanctions and diplomatic pressure from the international community.

    Human Development and Economy

    Venezuela has a largely oil-dependent economy, which has suffered due to mismanagement and declining oil prices. The country has high rates of poverty, inflation, and shortages of basic goods. Its human development indicators have declined in recent years.

    Cultural Highlights

    Venezuela is a multicultural country with a diverse population. Its culture is influenced by indigenous, Spanish, African, and Caribbean traditions. Notable cultural aspects include music genres like salsa and joropo, as well as literature and art.

    Conclusion: Venezuela faces significant challenges, including political and economic instability, human rights concerns, and a humanitarian crisis. Opportunities lie in resolving the political and economic crises, restoring democratic institutions, and addressing the humanitarian situation.

Main facts

1. Location

Venezuela is a country situated on the northern coast of South America, bordering the Caribbean Sea and the North Atlantic Ocean. It is located between Colombia to the west and Guyana to the east, with Brazil as its southern neighbor.

2. Map References

Venezuela is located in the northern part of South America, within the continental region known as the Northern Andean States.

3. Area – Comparative

With an area of 916,445 square kilometers (353,841 square miles), Venezuela is slightly more than twice the size of California.

4. Land Boundaries and Border Countries

Venezuela shares land borders with Brazil (2,200 km), Colombia (2,341 km), and Guyana (743 km), with a total land boundary length of 5,284 km.

5. Coastline

Venezuela has a coastline of 2,800 km along the Caribbean Sea and the North Atlantic Ocean, featuring several islands, bays, and peninsulas.

6. Maritime Claims

Venezuela claims the following maritime zones: territorial sea of 12 nautical miles, contiguous zone of 24 nautical miles, exclusive economic zone of 200 nautical miles, and a continental shelf of 200 nautical miles or the edge of the continental margin.

7. Climate

Venezuela has a tropical climate, with hot and humid conditions throughout the year. Regional variations exist, with the Andes Mountains experiencing cooler temperatures, and the Maracaibo Lowlands having a semi-arid climate.

8. Terrain

Venezuela’s terrain is diverse, featuring the Andes Mountains in the northwest, the Maracaibo Lowlands in the northwest, the Orinoco River Basin and the Guiana Highlands in the southeast, and the Caribbean coastal region.

9. Elevation Extremes

The highest point in Venezuela is Pico Bolívar (5,007 m) in the Andes, while the lowest point is the Caribbean Sea (0 m).

10. Natural Resources

Venezuela’s major natural resources include petroleum, natural gas, coal, iron ore, gold, bauxite, diamonds, and other minerals.

11. Major Bodies of Water

Notable water bodies in Venezuela include the Orinoco River (the third-largest river system in the world), Lake Maracaibo (one of the largest lakes in South America), and the Gulf of Venezuela in the Caribbean Sea.

12. Natural Hazards

The natural hazards affecting Venezuela include periodic droughts, floods along the Orinoco River, and the threat of earthquakes and tsunamis along the Caribbean coast.

13. Geography – Notes

Venezuela has a diverse range of ecosystems, including the Andes Mountains, tropical rainforests, and savannas. However, deforestation and environmental degradation pose significant challenges for the country’s biodiversity and natural resources.

  • Forest Area (% of land area): 52.70%. This is the percentage of a country’s total land area that is covered by natural or planted forests.
  • Co2 Emissions: 164,175. CO2 emissions refer to the release of carbon dioxide gas into the atmosphere, primarily from the burning of fossil fuels (coal, oil, and natural gas) for energy production, transportation, and industrial processes.
  • Agricultural Land( %). 24.50%. Agricultural land refers to the share of land area that is arable and used for cultivating crops or raising livestock.
  • Geographic Coordinates:  6.42375-66.58973.
  • Capital: The capital of Venezuela is  Caracas
  • Major Cities:
    • Caracas – Population: 2.9 million
    • Maracaibo – Population: 1.6 million
    • Valencia – Population: 1.4 million
    • Barquisimeto – Population: 1.1 million
    • Maracay – Population: 850,000
  • Population: 28,515,829
  • Area(Km2): 912050
  • Population Density( P/Km²):32. This is the number of people living per square kilometer of land area in a given region or country.
  • Calling Code:58
  • Official Language(s):Venezuela is Spanish (100%).
  • Currency: VED

Main Economic Indicators

Venezuela’s economy is highly dependent on oil exports, which account for the majority of the country’s export earnings and government revenue. The country faces significant economic challenges, including high inflation, declining oil production, and severe shortages of basic goods and services. The government has implemented strict currency and price controls, as well as nationalizations of various industries, which have exacerbated the economic crisis.

Inflation Rate (Consumer Prices)

2022: 305.6% (Source: Central Bank of Venezuela)
2021: 686.4% (Source: Central Bank of Venezuela)

Credit Ratings

Fitch: Restricted Default
Moody’s: C
Standard & Poor’s: SD

GDP – Composition by Sector of Origin

Agriculture: 3.8%
Industry: 28.5%
Services: 67.7%

Key Agricultural and Industrial Products

Agricultural Products: Corn, sorghum, sugarcane, rice, bananas, vegetables, coffee, beef, pork, milk, eggs, fish
Industrial Products: Petroleum, aluminum, steel, chemicals, agricultural machinery, transport equipment, construction materials, crude oil and petroleum products

Labor Force

Total Labor Force: 14.5 million (2022)
Comparative Ranking: Not available

Current Account Balance

2022: $11.7 billion (Source: Central Bank of Venezuela)
2021: $7.3 billion (Source: Central Bank of Venezuela)
Comparative Ranking: Not available

Exports and Imports

Exports:
Total Value: $27.4 billion (2022)
Key Partners: China, India, United States, Spain, Singapore
Main Commodities: Petroleum, aluminum, steel, chemicals

Imports:
Total Value: $9.9 billion (2022)
Key Partners: China, United States, Brazil, Colombia, Mexico
Main Commodities: Machinery and equipment, transport equipment, agricultural products, construction materials, consumer goods

Reserves of Foreign Exchange and Gold

Foreign Exchange Reserves: $5.4 billion (as of December 2022)
Gold Reserves: 73.5 tons (as of December 2022)

  • GDP (Current US$):$482,359,318,768. It represents a country’s gross domestic product measured in current US dollars. Higher values indicate a larger economy and economic output.
  • Tax Revenue (% of GDP): . It refers to the amount of tax revenue collected by the government, expressed as a percentage of the country’s gross domestic product (GDP). Higher values indicate a higher tax burden relative to the size of the economy.
  • Total Tax Rate (% of commercial profits): 73.30%. This is the sum of all taxes payable by businesses, expressed as a percentage of their commercial profits. Higher values indicate a higher tax burden on businesses.
  • Gasoline Price. $0.00. It refers to the cost of one liter or gallon of gasoline/petrol. Higher values indicate more expensive gasoline prices for consumers and businesses.
  • Minimum wage. $0.01. It refers to the lowest legally mandated hourly wage that employers must pay their workers. Higher values indicate a higher minimum level of pay for low-wage workers.
  • Unemployment Rate (%): 8.80%. It represents the percentage of the labor force that is unemployed and actively seeking employment. Higher values indicate more joblessness in the economy.

Social Indicators

1. National Identity

Noun: Venezuelan(s)
Adjective: Venezuelan

2. Ethnic Groups

  • Spanish, Italian, Portuguese, Arab, German, African, Indigenous 51.6%
  • Mestizo (mixed) 43.9%
  • Indigenous 3.2%
  • Black 1.3%

3. Religions

  • Roman Catholic 88%
  • Protestant 2%
  • Other Christian 4%
  • Other or unspecified 6%

4. Age Structure

  • 0-14 years: 26.65%
  • 15-64 years: 66.35%
  • 65 years and over: 7%

5. Dependency Ratios

Total dependency ratio: 51.2%
Youth dependency ratio: 39.1%
Elderly dependency ratio: 12.1%

6. Median Age

Total: 29.2 years
Males: 28.3 years
Females: 30.2 years

7. Lifestyle Indicators

  • Obesity rate: 25.6%
  • Alcohol consumption: 7.8 liters per capita (2010)
  • Tobacco use: 24.3% of adults (2015)
  • Life Expectancy at Birth: 72.1. Life Expectancy at Birth refers to the estimated average number of years a newborn is expected to live based on current mortality rates. Higher values indicate better health outcomes and living conditions in a country or region.
  • Literacy Rate (% of adults): 99.5%. It refers to the percentage of the population aged 15 and above who can read and write with understanding of a short simple statement about their everyday life. Higher literacy rates indicate better educational attainment within a population.
  • Birth Rate:17.88. Birth Rate is the total number of live births per 1,000 population in a given year. Higher birth rates indicate a larger share of the population being born each year.
  • Death Rate:8. Death Rate is the number of deaths per 1,000 population in a given year. Higher death rates indicate more people dying annually within a population.
  • Fertility Rate: 2.27. Fertility Rate is the average number of children a woman would have over her reproductive years based on current birth rates. Higher fertility rates indicate larger family sizes and population growth.
  • Internet Users (% of population): 72.9%. Internet Users (% of population) refers to the percentage of the total population in a country or region that has access to and uses the internet. Higher values indicate greater internet penetration and connectivity among the population.
  • Urban Population: 25,162,368. Urban Population refers to the percentage or number of people living in urban areas or cities within a country or region. Higher urban population values indicate greater urbanization and concentration of people in cities compared to rural areas.
  • Out of Pocket Health Expenditure (% of total health expenditure):45.80%. Out of Pocket Health Expenditure (% of total health expenditure) represents the portion of total health care costs that individuals pay directly out of their own pockets, rather than being covered by insurance or government programs. Higher values indicate greater personal financial burden for health care expenses.

Infrastructure and Services

Military and Security Forces

Venezuela’s military consists of four main branches: Army, Navy, Air Force, and the National Armed Militia. The Army includes the Republican National Guard, a gendarmerie force responsible for internal security. Other special units are the Operational Strategic Command, the Strategic Operational Command of the National Armed Militia, and the Presidential Honor Guard Regiment.

Military Expenditures

Venezuela’s military expenditure as a percentage of GDP for the last five years:

  • 2022: 0.5%
  • 2021: 0.5%
  • 2020: 0.6%
  • 2019: 0.8%
  • 2018: 0.8%

Venezuela ranks relatively low globally in terms of military spending.

Personnel Strengths

Venezuela has approximately 115,000 active military personnel, with the breakdown as follows:

  • Army: 92,000
  • Navy: 15,000
  • Air Force: 8,000

Other security services include the National Bolivarian Militia with around 1.6 million members and the Presidential Honor Guard Regiment with about 4,500 personnel.

Military Equipment Inventories and Acquisitions

Venezuela’s military equipment includes a mix of domestically produced and imported hardware from countries like Russia, China, and Spain. Key equipment:

  • Main Battle Tanks: T-72, AMX-30
  • Fighter Aircraft: Su-30MK2, F-16A/B
  • Transport Aircraft: C-130H Hercules, CN-235
  • Naval Assets: Submarines, Frigates, Patrol Craft

No major military acquisitions or development programs are currently underway due to economic constraints.

Military Service Age and Obligation

Military service in Venezuela is voluntary for both men and women. The age range for recruitment is 18-30 years. There is no mandatory military service obligation.

Military Deployments

Venezuela currently has no significant overseas military deployments. It contributes a small contingent to the United Nations Stabilization Mission in Haiti (MINUSTAH).

Strategic Military Notes

Venezuela’s defense strategy focuses on territorial integrity and sovereignty, with a particular emphasis on monitoring and controlling its borders. The military plays a prominent role in internal security and is closely aligned with the government.

Internationally, Venezuela participates in regional security initiatives like UNASUR (Union of South American Nations) and maintains close military ties with allies like Russia, China, and Cuba. However, its global security role is relatively limited due to economic constraints and political tensions with the United States and several Latin American nations.

  • Armed Forces Size: 109000. Armed Forces Size refers to the total number of active personnel serving in a country’s military forces, including the army, navy, air force, and other branches. Higher values indicate a larger military presence and personnel.
  • Physicians per Thousand: Number of doctors per 1,000 people is 1.92
  • Population: Labor Force Participation (%): 59.70%. This is the percentage of the total population aged 15 and older that is economically active, meaning they are either employed or actively seeking employment. Higher values indicate a greater proportion of the working-age population engaged in the labor force.

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