Venezuela’s economic tragedy
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Soaring seven-figure Inflation, almost four in 10 people out of work,
high government debt and dwindling foreign reserves has left oil-rich Venezuela as the world’s most miserable economy
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Aug 2018: President Nicolas Maduro launches new sovereign bolivar (Bs.), slashing five zeros off currency. *Single egg now costs 307Bs., while monthly minimum wage is 9,000Bs. 
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Annual inflation rate (Nov 2018) 1,300,000%

Unemployment rate 38.02%

US$156bn Venezuela’s external debt

$8.4bn Foreign reserves

Proven crude oil reserves
Billion  barrels  
Venezuela 302.8
Saudi Arabia 266.3
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Per capita GDP (constant 2010 $) 
Oil price ($/barrel, annual average)

1982     1987    1992    1997    2002   2007     2012    2017
13,060  12,372  13,148  12,787  10,717  14,143  14,473  10,000+
23.74   15.08   14.39   15.33   20.13   64.10   100.15   45.60

98% Oil as share of export revenues

2013: President Maduro takes office
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*3,685Bs. – price of 12 eggs in Caracas, Mar 2019. †Estimate, no government data since 2016
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Sources: EIA, IMF, Opec, World Bank Picture: Associated Press © GRAPHIC NEWS