Venezuela once had a Nominal GDP
of $96.3 billion and a population of 32 million. Venezuela’s land mass is 340,561 square miles.
Their population is reported as
32 million, but hasn’t had the out-migration subtracted since 2014. I suspect
that their current population is less than 15 million.
It reports a Nominal GDP of $96.3
billion, but it has a defaulted debt of $60 billion and little oil being
produced.
Inflation is 80,000%. Poverty is
87%. Unemployment is 34%. Nominal per capita GDP is reported at $3,300.
China is repaying itself for the
$50 billion loan it made to Venezuela by pumping oil from Venezuela’s oil
fields themselves.
https://en.wikipedia.org/wiki/Economy_of_Venezuela
Comments
Venezuela should not
have nationalized their natural gas industry in 1971 or their oil industry
after 1999. Socialism is adopted incrementally.
Norb Leahy, Dunwoody
GA Tea Party Leader
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