Wikipedia did update
their post on Venezuela Economics for 2018, but I don’t trust all the numbers.
Venezuela’s problems started in 1976 and their citizens have had decades to get
out, so I doubt that they still have a population of 32 million. I suspect Wikipedia
data is provided by the Venezuelan government and I expect them to distort the
data.
See below:
GDP $100.8 billion,
GDP growth -14%, Per capita GDP $3,168 per year, GDP sector: agriculture 3.9%, industry 32.9%,
services 63.2%, Inflation 17,958%, Population below poverty 87%, Labor force
13.08 million, Unemployment 27.1%, Industries: petroleum, construction materials,
food processing, iron ore mining, steel, aluminum, motor vehicle assembly, Ease
of doing business 188th. Government Debt $52 billion.
I estimate the
population at 20 million down from the 32 million reported. The real exodus
began in 1998 when Chavez was elected President.
In January 2007, with oil at $100
/bbl, Chavez put Venezuela into unsustainable debt. In 2013, he ran out of
cash.
Norb Leahy, Dunwoody
GA Tea Party Leader
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