From 2017 to 2021, the share of households living under the poverty line in Venezuela has been surpassing 90 percent. In addition, more than six out of every ten households (67.97 percent) lived in extreme poverty in 2021. The overall household poverty rate in Venezuela has registered a steady growth from 2014 to 2019, after having remained relatively stable, below 40 percent, since 2005. Although poverty is widespread among the population as a whole, some groups are more vulnerable than others. That is the case of younger generations and particularly children: 98.03 percent of Venezuelans aged 15 or younger lived in poverty in 2021. An economy in disarray Venezuela, the country with the largest oil reserves in the world and whose economy has been largely dependent on oil revenues for decades, was once one of the most prosperous countries in Latin America. Today, hyperinflation and an astronomic public debt are only some of the many pressing concerns that affect the domestic economy. The socio-economic consequences of the crisis As a result of the economic recession, more than half of the population in every state in Venezuela lives in extreme poverty. This issue is particularly noteworthy in the states of Amazonas, Monagas, and Falcón, where the extreme poverty rate hovers over 80 percent. Such alarming levels of poverty, together with persistent food shortages, provoked a rapid increase in undernourishment, which was estimated at 17.9 percent between 2020 and 2022. The combination of humanitarian crisis, political turmoil and economic havoc led to the Venezuelan refugee and migrant crisis. As of 2020, more than five million Venezuelans had fled their home country, with neighboring Colombia being the main country of destination.

Amazonas, a sparsely populated state located in the southern part of Venezuela, is the region with the highest poverty rate in Venezuela. In 2021, 99 percent of the population in Amazonas state was considered to live below the poverty line. Yaracuy and Sucre were other Venezuelan states that registered the highest poverty rates that year, both above 97 percent. More than half of households in Venezuela are estimated to be under extreme poverty.

In 2021, the national poverty rate of Venezuela was reported at 94.46 percent. In comparison, more women than men were estimated to live in poverty. Up to 95.1 percent of the female population in Venezuela lived in poverty, whereas the male poverty rate stood 1.34 percentage points lower. Younger segments of the Venezuelan population registered higher poverty rates than the national average.

Poverty rate at national poverty line of Venezuela (Bolivarian Republic of) leapt by 12.20% from 29.5 % in 2014 to 33.1 % in 2015. Since the 0.73% downward trend in 2012, poverty rate at national poverty line rocketed by 21.69% in 2015. National poverty rate is the percentage of the population living below the national poverty line. National estimates are based on population-weighted subgroup estimates from household surveys.

Historical dataset showing Venezuela poverty rate by year from 1981 to 2006.

Poverty rate at $1.9 a day of Venezuela (Bolivarian Republic of) plummeted by 46.41% from 18.10 % in 2005 to 9.70 % in 2006. Since the 22.62% surge in 2003, poverty rate at $1.9 a day sank by 64.21% in 2006. Population below $1.9 a day is the percentage of the population living on less than $1.9 a day at 2005 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

Amazonas, one of the 24 Venezuelan federal entities, registered the highest extreme poverty rate in the country in 2021. That year, around 87 percent of the population of Amazonas was considered to live below the extreme poverty line. Monagas was the Venezuelan state with the second highest extreme poverty rate, at 86 percent. More than half of households in Venezuela are estimated to be under extreme poverty.

The municipalities of Manapiare and Bolívar, located in the Venezuelan states of Amazonas and Falcón, respectively, registered the highest share of population living under the poverty line in the country in 2021. That year, almost the entire population of these municipalities was reported to be living in poverty. All the 25 Venezuelan cities listed in this statistic had at least 99.7 percent of their population living under the poverty line.

Number of poor at $1.9 a day of Venezuela (Bolivarian Republic of) plummeted by 51.35% from 3.7 million persons in 2005 to 1.8 million persons in 2006. Since the 23.08% surge in 2003, number of poor at $1.9 a day sank by 62.50% in 2006. Number of people, in millions, living on less than $1.90 a day at 2011 PPP is calculated by multiplying the poverty rate and the population. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

6.7 (%) in 2006. Poverty headcount ratio at $1.90 a day is the percentage of the population living on less than $1.90 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

In 2015, the poverty headcount ratio at national poverty lines in Venezuela stood at 33.1 percent. Between 2000 and 2015, the figure dropped by 8.5 percentage points, though the decline followed an uneven course rather than a steady trajectory.

1,8 (milhões) in 2006. Number of people, in millions, living on less than $1.90 a day at 2011 PPP is calculated by multiplying the poverty rate and the population. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

In 2024, the unemployment rate in Venezuela amounted to 5.48 percent. Between 1991 and 2024, the figure dropped by 3.97 percentage points, though the decline followed an uneven course rather than a steady trajectory.

In Venezuela, as of 2021, the food insecurity rate, characterized by an individual's insufficient access to safe and nourishing food necessary for healthy growth and development, was most pronounced in the state of Trujillo, standing at a staggering **** percent.

In Venezuela in 2021, the prevalence of individuals experiencing moderate to severe food insecurity was more pronounced in the state of Amazonas, reaching **** percent. Food insecurity is defined as a condition where individuals lack consistent access to an adequate supply of safe and nutritious food essential for normal growth, development, and a healthy, active life.

The annual end-of-period inflation rate of Venezuela was estimated at approximately 47.17 percent in 2024. Between 1985 and 2024, the rate rose by around 38.05 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the rate will increase by about 171.05 percentage points.The International Monetary Fund describes this indicator as a measure of inflation based upon the year-on-year percent change in the end-of-period consumer price index (CPI). The said index measure is based upon the cost of a typical basket of goods and services at the end of a given time period.

In August 2024, the economic sector registering the most elevated inflation rate was communications, standing at *** percent, trailed by housing at *** percent, and home equipment at *** percent when compared to the previous month.

During the depicted period, Venezuela's monthly inflation rate has oscillated, hitting its highest point in January 2023 at **** percent. As of August 2024, the inflation rate was around *** percent.

The state of Zulia, where the city of Maracaibo is located, is the most populated state in Venezuela. In 2021, 3.83 million people lived in Zulia. Miranda was the state with the second largest population, at around 2.97 million inhabitants. Delta Amacuro, which registered the highest poverty rate among other Venezuelan states, was one of the regions with the lowest number of inhabitants.

The average inflation rate in Venezuela was estimated at 48.98 percent in 2024. Between 1980 and 2024, the inflation rose by 27.62 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the inflation will increase by 633.1 percentage points.This indicator measures inflation based upon the year-on-year change in the average consumer price index, expressed in percent. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services.