COUNTRIES & REGIONS

Venezuela's Economy & Society -

Data and Analysis

June 2022
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2
 Agenda

01 Introduction 04 Society 07 Environment

Russia-Ukraine War Population Co2 Emission
COVID-19 Human Development Air Pollution
Country Overview Energy
Business Culture Climate Risk

02 Economy 05 Health 08 Politics

Employment General Indicators Political System
Political Rights
Government Quality

03 Trade & Investment 06 Retail & Consumption 09 Security

Trade In Goods/Services Retail Markets Instability/Conflicts

Tax Policy
FDI/M&A

3
 The Venezuelan economy is on the brink of collapse
Executive Summary (1/2)

Country overview and economy Trade, investment, and society

• The Russia-Ukraine war may lead to higher growth for Venezuela and and it did • Good export values of Venezuela have decreased
not vote in the UN meeting on a resolution condemning the war
• In 2020, the share of manufactures in goods exports in Venezuela is lower than
• It takes 230 days to start a business in Venezuela compared to the regional the regional average
average of 42.6 days
• In 2020, total merchandise exports of Venezuela amounted to US$5.0 billion
• Total labor force is estimated to have declined to 10.67 million in 2021
• In 2018, total services-related exports in Venezuela amounted to US$0.8 billion

• Venezuela applies very different tariffs on different product groups

• Inward FDI flows to Venezuela reached US$0.96 billion in 2020

• Value of net cross-border M&As by purchasers from Venezuela reached US$0.038

billion in 2020

• Value of net cross-border M&As by purchasers from Venezuela reached US$0.038

billion in 2020

• The level of English proficiency is low in this country

4
 Control of corruption is rated as weak in Venezuela
Executive Summary (2/2)

Health, retail, consumption, and infrastructure Environment, politics, and security

• The total fertility rate in Venezuela is higher than the regional average • Venezuela had the 43rd highest carbon dioxide emissions in 2020

• The retail market in Venezuela is opening • Venezuela has the 76th highest carbon dioxide emissions per capita in 2020

• In Venezuela, global grocery chains are not represented • In a 2019 global comparison, Venezuela had a medium exposure to particulates

• Tachira has the highest exposure to air pollution in Venezuela

• In a 2000-2019 global comparison, Venezuela had a low recurrence of extreme

weather events

• Venezuela is a federal presidential republic

• Control of corruption is rated as weak in Venezuela

• Regulatory quality in Venezuela is on a very low level

• Venezuela has very high risk of political instability and/or politically-motivated

violence

5
CHAPTER 01

Introduction
 The Venezuelan economy is on the brink of collapse
Country in a Nutshell

Venezuela ─ a state of crisis

Venezuela in South America is endowed with vast oil and mineral deposits such as
coal, iron ore, bauxite, and gold. However, the once-flourishing country is
experiencing a period of heavy corruption, failed government policies, and
resultant public protests, which along with falling oil prices has put Venezuela’s
economy on the brink of collapse. Some 3 million Venezuelans have fled the
country ever since the crisis began. The country’s inflation rate stood at 438.12% at
the end of 2017 and shot all the way up to 6,500% by the end of 2020. This
situation, described by The New York Times as “the single largest economic collapse
outside of war” has come about mainly due to mismanagement of the country’s oil
industry, monetization of large public deficits, state control of the economy, and
organized crime.

• The National TV ignores the opposition, covering only the ruling party

• In 2018, the city of Caracas had the highest homicide rate and was followed by
Guyana and Ciudad Bolivar

Sources: BBC 2019; Businessinsider 2019; Britannica 2021; The Heritage Foundation 2020; IMF 2020
 The Russia-Ukraine war has caused huge humanitarian and economic
consequences
Russia-Ukraine War: Overview

The Russian invasion of Ukraine started on February 24, 2022. Attacks by Russian Total number of refugees from Ukraine in neighboring countries(1)
forces were reported in major cities across Ukraine, including Berdyansk, Chernihiv,
Kharkiv, and the capital Kyiv. Western officials claimed that by scope, the war could Poland 3.396.792
be the largest in Europe since 1945. Find the latest developments at: Russia-
Ukraine war 2022. Serious spillovers of the war have been already observed in
Romania 930.341
neighbor countries, EU, and the global economy, in almost all major fronts.

Humanitarian Consequences
Russia 863.086
As of May 5, 2022, the war causes 14,000 fatalities and forces over 6 million
refugees to leave home.
Hungary 615.256
Economic Consequences

The war may lead to a loss of 1% global GDP growth in 2022 and 0.2% in 2023.
Republic of Modova 465.435
Global inflation is projected to be 2-3% higher than pre-war projection.

Global reactions
Slovakia 426.605
As of May 11, 2022, numerous sanctions are imposed on Russian individuals (6,524)
and institutions (1,002). Military, financial and humanitarian aid commitments to
Belarus 27.308
Ukraine reached €64.6 billion until May 10, 2022.

8 Notes: For the latest updates, see Statista Russia-Ukraine war 2022 - statistics & facts and Russia-Ukraine conflict 2021-2022 - statistics & facts (1) As of May 19, 2022; accumulated number is higher than the total number
due to the fact that people are crossing borders
Sources: Statista 2022; Özdamar & Shahin 2021; IMF 2022; UN 2022; Kiel Institute 2022; Castellum.AI 2022
 Implications for the global economy due to the Russia-Ukraine war
Russia-Ukraine War: Global Impacts

2022 global GDP projection revision Projected economic situation changes since war(2)
by selected institutions(1)

NIESR -0.5%

Moody’s Analytics -0.6%

IMF -0.8%

Fitch Ratings -0.9%

Kiel Institute -0.9%

The Economist -1.0%

OECD -1.1%

World Bank -1.2%

Oxford Economics -1.4%

Conference Board -1.5%

UNCTAD -1.8% Disaster Strongly negative Moderately negative Slightly negative Almost no impacts/Slightly positive

9 Notes: For the latest updates, see Statista Russia-Ukraine war 2022 - statistics & facts and Russia-Ukraine conflict 2021-2022 - statistics & facts (1) Difference between May 2022 (or latest) forecast and pre-war baseline
forecast (4.4% WEO IMF Jan 2022) (2) Country groupings are based on the differences between pre-war and current forecasts of 2022 GDP/inflation. GDP/inflation data is published by IMF WEO October 2021 and April 2022
Sources: Statista 2022; IMF 2022; Conference Board 2022; The Economist 2022; NIESR 2022; Fitch Ratings 2022; Oxford Economics 2022; UNCTAD 2022; Kiel Institute 2022; OECD 2022; World Bank 2022
 The war has caused strong fluctuations in the global commodities market
Russia-Ukraine War: Trade Impacts

Top products(1) exported by Russia and Ukraine in Top products(1) exported by Russia and Ukraine as Commodities price index (2019=100)
billion US$ % of the global export value Russia-
Ukraine
300 conflict
Fuels & oils 142.5 Cereals 15.8
Preci. metals Fertilizers 14.1 250
30.5
& jewellery Nickel 13.8
Iron & steel 23.7 Fuels & oils 10.2 200
Fats & oils 9.8
Cereals 18.8
Iron & steel 7.5 150
Nuclear reactors
10.2
& machin. Wood 7.4

Fats & oils 9.7 Metals 5.4 100

Preci. metals
5.4
Wood 9.6 & jewellery
Fish 4.5 50
Ores, slag
8.8 Copper 4.4
& ash Ores, slag
3.9 0
Fertilizers 7.4 & ash
Railway 3.8 2019M01 2020M01 2021M01 2022M02 2023
Elec. machin.
6.9 Forecast
& equip. Aluminium 3.6
Energy Fats/Oils Fertilizers
Ukraine Russia Food Grains Metals & Minerals

10 Notes: For the latest updates, see Statista Russia-Ukraine war 2022 - statistics & facts and Russia-Ukraine conflict 2021-2022 - statistics & facts (1) Product groupings are based on HS-2 code, data in 2021 or latest

Sources: UN Comtrade 2022; Intracen 2022; World Bank 2022; Statista 2022
 The war may lead to higher growth for Venezuela and and it did not vote in the
UN meeting on a resolution condemning the war
Russia-Ukraine War: Country-specific Impacts

Trade with Russia as % of total trade(1) GDP growth and Inflation projection for 2022 of this Voting on the UN resolution condemning Russia’s
country(2) invasion
1,70 2.000,0
1,61

0,69

500,0

0,01 1.5
Venezuela South America(3) -3,0
Pre-war forecast Current forecast
Exp. to Russia/Total Exp. Imp. from Russia /Total Imp. GDP Growth Inflation Not vote In favor of Abstain

11 Notes: For the latest updates, see Statista Russia-Ukraine War 2022 - statistics & facts and Russia-Ukraine conflict 2021-2022 - statistics & facts (1) Based on average of 2019-2021 data (2) Based on IMF WEO of different
versions (3) Simple average of the data of countries in the region
Sources: UN Comtrade 2022; Intracen 2022; Statista 2022; IMF 2022; UN 2022
 COVID-19 developments in Venezuela
COVID-19 Updates

Management of the crises GDP in billion US$

The COVID-19 pandemic has affected the global economy and several aspects of 63,4
life in most countries in the world. The degree of impact varies across countries in
terms of the number of cases and the effects on the society and economy. This is
related to each country’s crisis management, i.e., the various policies which have
47,3
been implemented in the relevant country. Some countries reacted very fast,
42,5
imposing strict lockdowns, whereas other countries introduced more moderate
policies to stop the spread of the virus.

522.06k 5.70k 14,287.37k 49.8%

Number of Number of deaths People fully Share of population
confirmed cases (1) related to COVID-19 vaccinated(1) fully vaccinated(1)

2019 2020 2021

12 Notes: (1) As of 22 April 2022

Sources: John Hopkins University 2022; Our World in Data 2022; International Monetary Fund 2022; Statista 2022
 Venezuela
Country Overview

General information

Capital: Caracas

Official language: Spanish

Main religion: Roman Catholic

Main ethnic group: Mestizo

Population: 28,435,943

Area: 912,050 sq km

Population density: 32.2 people/sq km

Total real GDP(1): US$222.2bn

GDP per capita: US$7,814.1

Profit tax: 9.4%

Currency: Bolívar soberano (VES)

Exchange rate: USD/VES =9.98

Time zone: UTC-4

Calling code: +58

13 Notes: (1) Constant US$, see glossary for definition of current and constant

Sources: CIA 2021; World Bank 2022; United Nations 2022; International Monetary Fund 2022; Columbia University 2020; Statista 2022
 With a population of 2.9 million, Caracas is the largest urban area in Venezuela
Overview: population

Population in major city in thousand Land use as % of total area Religious affiliation as % of Ethnic groups as % of population
population
2.946

2.296
9,7% 3.5%
1.935 0.4% 2.5%
0.3% 1.2%
43,4% 0.1%
1.227 1.216 50,3%
52,7%
42,5%

0.8%
3.1% 89,5%
Caracas

Maracaibo

Valencia

Barquisimeto

Maracay

Other White
Permanent cropland Other Other Folk Religions Christians
Indigenous Mestizo
Arable land Forest area Muslims Unaffiliated
Black

14

Sources: Pew Research Center 2015; CIA 2021; World Bank 2019; United Nations 2022
 Things you may not know about Venezuelan business culture
Doing Business (1/2)

COMMUNICATION STANDARDS BUSINESS MEETING PROCEDURES

• Venezuelans mostly prefer direct communication. A lot of time is spent • Punctuality is expected in business meetings, which are generally held in the
getting to know each other better before getting into formal business morning hours of any working day.
dealings. • The meeting schedules are expected to follow the prescribed timetable.
• A firm handshake between male business partners and a kiss on cheek
between female business partners are the most common ways of non-verbal
communication. Being well-dressed and maintaining eye contacts are
essential to showcase interest and competence.

• Venezuelans prefer to communicate in Spanish, however English as a CONFLICT MANAGEMENT

business language is finding more traction with more multinational
• Venezuelans prefer to address conflict through discussion with the purpose
companies coming into the country. A language interpreter may be
of arriving at a mutually acceptable solution.
necessary to do business with local Venezuelan business people.
• In cases where discussion does not yield results, an executive from senior
• Hierarchy is rather important in Venezuela’ s corporate sector.
management tries to find an acceptable solution for the parties involved.
• Bargaining is common. It is locally known as ‘Viveza Criolla’
• Notably, Venezuela is deeply legislated in all aspects, even many business
conflicts solutions are described in the law.

15 Notes: Please refer to the appendix for further information on the methodology of data collection

Sources: Statista 2022

 Things you may not know about the Venezuelan business culture
Doing Business (2/2)

IMPORTANT OF BUSINESS NETWORK GENDER EQUALITY

• Venezuelans give high importance to maintaining a strong business network • Venezuela respects gender equality, but as a tradition, share of women in
to do business in the country. the corporate sector is limited. However, many women play important roles
in several companies and institutions..
• People here prefer to maintain friendship at workplace as it strengthens
relationships with co-workers and helps in getting things done faster.

• Personal relationships play a great role in business success as most of the

business deals are based on how well you know the person around the table.

SLOW BUSINESS MONTHS WORK-LIFE BALANCE

• Business is slower than usual in August and December owing to summer and • Free time is valuable in Venezuela, and people give importance towards
Christmas holidays. maintaining a good work-life balance. Although, people have friends at the
work place, social life and work-life are not always connected. Venezuelans
are hard working but not workaholics.

• People love to enjoy their holidays (including Easter, Carnivals, independence

day) and do not work during that period.

16 Notes: Please refer to the appendix for further information on the methodology of data collection

Sources: Statista 2022

CHAPTER 02

Economy
 Venezuela was more affected in terms of projected lost working hours than the
regional average
COVID-19’s Impact on Working Hours

Working hours lost(1) in 2021 in % Change in working hours relative to Q4 2019(2) in %

6,6

4,8
-2,2

-3,9
-4,3
-4,9

-6,8
World Low-income Lower-middle- Upper-middle- High-income
Venezuela Americas countries income income countries
countries countries

18 Notes: (1) ILO modeled estimates (2) Estimates of working-hour losses in 2021 relative to Q4 2019. For further details regarding the methodology used for the forecast, please refer to ILO Monitor: COVID-19 and the world of work.
Eight edition
Sources: ILO 2022
 Total labor force is estimated to have declined to 10.67 million in 2021
Labor Force: Development

Total labor force(1) in thousands

11,985
+3.0%
10,921 10,666 10,983
10,460
37.9%
35.2% 35.0% 34.9%
35.1%

62.1% 64.8% 64.9% 65.0% 65.1%

2018 2019 2020 2021 2022

Male Female

19 Notes: (1) The sum of individuals in employment plus individuals in unemployment. Together, these two groups of the population represent the current supply of labor for the production of goods and services taking place in a
country through market transactions in exchange for remuneration.
Sources: International Labour Organization 2022
 It takes 230 days to start a business in Venezuela compared to the regional
average of 42.6 days
Business Environment: Administrative Framework

Venezuela South America Venezuela South America

Business administration in 2019 Delivery in 2019

Time needed to start a business(1) 230.0 days 42.6 days Time needed to export(3) n.a. hours 51.0 hours

Time needed to register property 53.0 days 42.4 days Time needed to import(3) n.a. hours 72.2 hours

Time needed to fulfill tax requirements 920.0 hours 519.1 hours Efficiency of customs clearance(4) 1.8 2.5

Time needed to resolve insolvency(2) 4.0 years 3.2 years

20 Notes: (1) No. of calendar days needed to complete the procedures to legally operate a business (2) No. of years from the filing for insolvency in court until the resolution of distressed assets (3) Time associated with compliance
with the documentary requirements of all government agencies of the origin, the destination and any transit economies (4) In 2018, includes e.g., speed, and predictability of customs clearance (5 = high efficiency, 1 = low
efficiency)
Sources: World Bank 2020; Statista 2021
CHAPTER 03

Trade & Investment

 Good export values of Venezuela have decreased
Trade in Goods: Regional Comparison

Good export value index Good import value index

150 120

100

100 80

60

50 40

20

0 0
2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021
South America Venezuela

22 Notes: Goods that add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. Regional average value is calculated using data from the countries covered by
the Statista Country Reports and the source
Sources: WTO 2022; Statista 2022
 In 2020, the share of manufactures in goods exports in Venezuela is lower than
the regional average
Trade in Goods by Sectors: Regional Comparison

Shares in merchandise(1) export value in 2020 Shares in merchandise(1) import value in 2020

76.8% 71.0%

49.1%

37.3%
33.9%
28.0%

14.3% 12.9% 14.2%

12.9%
6.9%
0.6%

Fuels and mining Manufactures Agricultural Fuels and mining Manufactures Agricultural
Venezuela South America

23 Notes: (1) Goods that add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. Regional average value is calculated using data from the countries covered by
the Statista Country Reports and the source
Sources: WTO 2022; Statista 2022
 In 2020, total merchandise exports of Venezuela amounted to US$5.0 billion
Trade in Goods by Years and Sectors

Merchandise(1) export trade flows in billion US$(2) Merchandise(1) import trade flows in billion US$(2)

-34%(3)

35 1.3 16
0.6 1.0
0.0 14 -19%(3)
30 0.0
0.1 3,0
12 0.9
25
0.0 1.9
10 0.7
20 2,4
0.7 8 2.3
15 30,6 32,5 0.0
25,9 6 2.1 0.4 0.6
4,7
10 9,7 1.3 1.8
0.8 4
16,1 1.0 0.9
5 3,8 0.0 2 5,4
3,8 3,1 3,2
0.7 0.7 0.6 0.4 0,3
0 0
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
Manufactures Fuels and mining Agricultural Others

24 Notes: (1) Goods that add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory. Regional average value is calculated using data from the countries covered by
the Statista Country Reports and the source (2) Current US$, see glossary for differences between current and constant US$ (3) CAGR: Compound Annual Growth Rate / average growth rate per year
Sources: WTO 2022; Statista 2022
 In 2018, total services-related exports in Venezuela amounted to US$0.8 billion
Trade in Services by Years and Sectors

Commercial services(1) export trade flows in billion US$(2) Commercial services(1) import trade flows in billion US$(2)

1,4 10

9
1,2
0,2 -13%(3)
8
-21%(3)
1,0 0.0
7
4,6
0.1
0,5 6
0,8
0.0 0.1 3,6
5 3,5
0,6 0.0 0.0
0,3 4
1,8 0.0
0,3 0.0
0,4 3
1,4 1,4
0,6 2
0,2 0,4 0,4 2,7
1 2,1 2,0

0,0 0
2016 2017 2018 2016 2017 2018
Transport Travel Goods-related services Others

25 Notes: (1) Comprises all services categories except "government services not identified elsewhere." Commercial services are subdivided into goods-related services, transport, travel, and other commercial services (2) Current US$,
see glossary for differences between current and constant US$ (3) CAGR: Compound Annual Growth Rate / average growth rate per year
Sources: WTO 2022; Statista 2022
 Venezuela applies very different tariffs on different product groups
Trade Policy: Tax

Tariff applied (2017–2020 average) in %

Clothing 35,0
Dairy products 29,5
Sugars and confectionery 23,6
Textiles 23,3
Oilseeds, fats and oils 21,8
Beverages and tobacco 18,1
Leather, footwear, etc 16,1
Manufactures n.e.s. 15,3
Coffee, tea 15,2
Transport equipment 14,9
Electrical machinery 14,1
Cereals and preparations 13,5
Non-electrical machinery 12,8
Wood, paper, etc 10,7
Fish and fish products 10,6
Fruits, vegetables, plants 10,5
Minerals and metals 10,2
Animal products 9,6
Other agricultural products 8,2
Chemicals 8,1
Cotton 6,4
Petroleum 0,1

26 Notes: The indicator is based on the Most Favored Nation (MFN) tariffs applied by the reporting country/economy (simple average duty by product groups)

Sources: WTO 2022; Statista 2022

 Inward FDI flows to Venezuela reached US$0.96 billion in 2020
FDI by Country

Inward FDI(1) flows in billion US$(2) in 2020 Outward FDI(1) flows in billion US$(2) in 2020

Venezuela 0,96 Venezuela -0.08

Egypt 5,85 Togo 0,93
Congo, Rep. 4,02 Africa Ghana 0,54
Africa
South Africa 3,11 Morocco 0,49
Ethiopia 2,40 Egypt 0,33
United States 156,32 United States 92,81
Mexico 29,08 Canada 48,66
Americas Americas
Brazil 24,78 Chile 11,58
Canada 23,82 Mexico 6,53
China 149,34 China 132,94
Asia/ Singapore 90,56 Asia/ South Korea 32,48
Pacific Pacific
India 64,06 Singapore 32,38
Israel 24,76 UAE 18,94
Luxembourg 62,14 Luxembourg 127,09
Germany 35,65 Europe France 44,20
Europe
Ireland 33,42 Germany 34,95
Sweden 26,11 Sweden 31,01

27 Notes: (1) Foreign direct investment is an investment made by a resident enterprise in one economy (direct investor or parent enterprise) with the objective of establishing a lasting interest in an enterprise that is resident in
another economy (2) Current US$, see glossary for differences between current and constant US$
Sources: UNCTAD 2021
 Value of net cross-border M&As by purchasers from Venezuela reached
US$0.038 billion in 2020
M&A by Country

Net cross-border M&As(1) by economy of seller in billion US$(2) in 2020 Net cross-border M&As(1) by economy of purchaser in billion US$(2) in 2020

Venezuela -0.0003 Venezuela 0.038

South Africa 2,24 South Africa -3,7
Nigeria 0,42 Africa Nigeria 0.0
Africa
Kenya 0.05 Kenya 0.1
Egypt 0,13 Egypt -0,8
United States 97,27 United States 125,2
Canada 12,07 Canada 27,4
Americas Americas
Brazil 4,96 Brazil 1,3
Mexico 2,80 Mexico -1,3
India 27,21 India 3,7
Asia/ China 19,22 Asia/ China 32,1
Pacific Pacific
UAE 16,39 UAE -2,8
Israel 10,38 Israel 0.0
Netherlands 98,81 Netherlands 17,5
Germany 53,13 Europe Germany 60,5
Europe
United Kingdom 38,34 United Kingdom 73,7
Switzerland 19,13 Switzerland 14,9

28 Notes: (1) Crossborder mergers and acquisitions: the sale of a domestic company to a foreign company, the sale of a foreign affiliate to a domestic company, and the purchase by a foreign company of another foreign company
operating in a host country (2) Current US$, see glossary for differences between current and constant US
Sources: UNCTAD 2021
 In Venezuela, FDI outflow is often larger than FDI inflow
Investment Flows by Years

FDI flows in billion US$ M&A value in billion US$

2,5 0,15

0,10
2,0

0,05
1,5

0,00
1,0 2015 2016 2017 2018 2019 2020
-0,05

0,5
-0,10

0,0
-0,15
2015 2016 2017 2018 2019 2020

-0,5 -0,20

Outflow Inflow Purchaser Seller

29 Notes: FDI (Foreign direct investment): made by a resident enterprise in one economy with the objective of establishing a lasting interest in an enterprise that is resident in another economy. M&A (Crossborder mergers and
acquisitions): the sale a domestic company to a foreign company, the sale of a foreign affiliate to a domestic company, and the purchase by a foreign company of another foreign company
Sources: UNCTAD 2021
CHAPTER 04

Society
 Population projected to reach 36.1 million by 2028
Population

Population projection(1) in thousands

36.087
35.040
33.938
32.780 +14.3%
31.568

2016 2019 2022 2025 2028

31 Notes: (1) The medium fertility variant assumes that total fertility will eventually converge toward a level of 1.85 children per woman

Sources: Statista, based on UN DESA and other statistical offices as of Q4 2021

 In global comparison, Venezuela has a high level of human development
Human Development Index

Human Development Index in 2019

With an index of 0.711, Venezuela ranks 113 out of 189 countries and
territories

• The Human Development Index was created to emphasize that people and their
capabilities should be the ultimate criteria for assessing the development of a
country, not economic growth alone

• The index is a summary measure of average achievement in key dimensions of

human development: a long and healthy life, being knowledgeable, and having a
decent standard of living

low medium high very high

32

Sources: United Nations 2021

 The level of English proficiency is low in this country
English Proficiency

Education First English Proficiency Index in 2021

With an index of 475, Venezuela ranks #71 out of 112 countries and territories

• The Index is based on the results of 2.2 million adults in 112 countries and
territories

• In 2021, the overall global score for female participants was 498, and the score
for male participants was 508

• The group between the ages of 26 and 40 performed the highest with a score of
529

• Europe has the highest regional average, whereas the Middle East has the lowest

• The levels are based on index values divided between very low (300-449), low
(450-499), moderate (500-549), high (550-599), and very high (600-800). Countries
Very low Low Moderate High Very high in which the majority of inhabitants are native English speakers are not included

33

Sources: Education First 2022

CHAPTER 05

Health
 The total fertility rate in Venezuela is higher than the regional average
General Health Indicators

Total fertility rate (live births per woman) Crude birth rate (births per 1,000 population) Life expectancy at birth in years
2,47 2,42 18,0 18,5 75,6 76,5
17,5 72,1 72,3 72,3 73,2
2,28 16,8
2,18
15,6
1,95 14,4
1,87

Venezuela South America World Venezuela South America World Venezuela South America World

2015-2020 2020-2025 2015-2020 2020-2025 2015-2020 2020-2025

35 Notes: Data 2020-2025 is based on the medium fertility variant assumption

Sources: UN 2022
CHAPTER 06

Retail & Consumption

 The retail market in Venezuela is opening
Retail Structure: Development Stage

Development stages of retail markets

Opening Maturing Well-developed

• Global grocery chains are not present • Global grocery chains start operations in large • Global chains operate in large cities, medium- sized
cities(1) cities and rural areas(1)
• National store ownership characterized by handcart
or independent stores • Store ownership is characterized by independent • Store ownership is characterized by independent
stores, national or international chains stores and national or international chains
• Traditional(1) payment methods are primarily used
• Traditional and electronic payment methods(1) are • Traditional, electronic and mobile payment
commonly used methods(1) are commonly used

37 Notes: The allocation of the development stages is based on the described method and criteria (1) See glossary for definitions

Sources: Statista 2022

 In Venezuela, global grocery chains are not represented
)Retail Structure: Global Grocery Chain

Presence of international grocery chains

International grocery chains Store location International grocery chains Store location

 
 

 

 

 

38 Notes: See glossary for definitions; Selected relevant grocery chains operating internationally; Information based on the Statista fact check

Sources: World List Mania 2018; Statista 2021

 Characteristics of the grocery market in Venezuela
Retail Structure: Grocery Market

Existence of grocery store types(1)

Hypermarkets Convenience Discounter Handcart

 ✓  ✓
Store ownership

International chains National chains Independent stores

 ✓ ✓

Mobile payment brand availability

Apple Pay Google Pay Samsung Pay Paypal

   ✓
39 Notes: (1) See glossary for definition; Information based on Statista fact check

Sources: Apple 2021; Google 2021; Samsung 2021; Paypal 2022; Statista 2021
 Insights into the grocery structure and shopping behavior in Venezuela
Retail Structure: National Typic Grocery Structure

Insights into a national typic grocery structure

The grocery structure in Venezuela is characterized by convenience stores and

handcarts. The most visited supermarkets are those of national chains, but street
vendors are very common everywhere.

In Venezuela, people tend to buy at supermarkets, but nowadays their preferences

depend mainly on the prices and the existence of the products.

Due to the low availability of products, consumers often need to shop at different
stores in order to satisfy their needs. Additionally, people usually go shopping every
day because of hyperinflation and low product availability.

40 Notes: Information based on Statista fact check

Sources: Statista 2019

CHAPTER 07

Environment
 Venezuela had the 43rd highest carbon dioxide emissions in 2020
Total CO2 Emissions

Territorial CO2 emissions(1) in tonnes in 2020 and variation since 2019

# Country Value Change # Country Value Change # Country Value Change # Country Value Change # Country Value Change
1 China 10,667.9 ↑ 33 Netherlands 138.1 ↓ 65 Myanmar 36.3 ↑ 97 Tanzania 10.9 ↓ 129 Gabon 4.3 ↓
2 United States 4,712.8 ↓ 34 Philippines 136.0 ↓ 66 Bahrain 35.0 ↑ 98 Panama 10.8 ↓ 130 Mauritius 4.0 ↓
3 India 2,441.8 ↓ 35 Nigeria 125.5 ↓ 67 Laos 33.8 ↓ 99 Zimbabwe 10.5 ↓ 131 Burkina Faso 4.0 ↓
4 Russia 1,577.1 ↓ 36 Uzbekistan 112.8 ↓ 68 New Zealand 33.5 ↓ 100 Estonia 10.5 ↓ 132 Namibia 3.9 ↓
5 Japan 1,030.8 ↓ 37 Qatar 106.7 ↓ 69 Ireland 33.3 ↓ 101 Senegal 10.5 ↓ 133 Madagascar 3.7 ↓
6 Iran 745.0 ↑ 38 Bangladesh 92.8 ↓ 70 Switzerland 32.3 ↓ 102 Equatorial Guinea 10.3 ↓ 134 Guinea 3.4 ↓
7 Germany 644.3 ↓ 39 Colombia 89.1 ↓ 71 Ecuador 30.9 ↓ 103 Brunei Darussalam 10.2 ↑ 135 Mali 3.4 ↓
8 Saudi Arabia 625.5 ↑ 40 Kuwait 88.9 ↓ 72 Slovakia 30.7 ↓ 104 Ivory Coast 10.1 ↓ 136 Rep. of the Congo 3.1 ↓
9 South Korea 597.6 ↓ 41 Mongolia 88.4 ↓ 73 Syria 30.5 ↓ 105 Georgia 10.0 ↓ 137 Iceland 2.9 ↓
10 Indonesia 589.5 ↓ 42 Czechia 88.0 ↓ 74 North Korea 29.3 ↓ 106 Yemen 9.8 ↓ 138 Haiti 2.9 ↓
11 Canada 535.8 ↓ 43 Venezuela 84.6 ↓ 75 Tunisia 28.1 ↓ 107 Honduras 9.7 ↓ 139 Dem. Rep. Congo 2.5 ↓
12 Brazil 467.4 ↓ 44 Belgium 83.7 ↓ 76 Dominican Republic 27.8 ↑ 108 Tajikistan 9.4 ↑ 140 Montenegro 2.3 ↓
13 South Africa 452.0 ↓ 45 Chile 81.2 ↓ 77 Denmark 26.2 ↓ 109 Luxembourg 8.2 ↓ 141 Suriname 2.2 ↓
14 Turkey 392.8 ↓ 46 Turkmenistan 75.3 ↓ 78 Lebanon 26.0 ↓ 110 Costa Rica 7.9 ↓ 142 Guyana 2.2 ↓
15 Australia 391.9 ↓ 47 Romania 71.5 ↓ 79 Jordan 25.5 ↓ 111 Paraguay 7.6 ↓ 143 Togo 2.2 ↓
16 Mexico 357.0 ↓ 48 Morocco 64.5 ↓ 80 Angola 22.2 ↓ 112 Jamaica 7.4 ↓ 144 Lesotho 2.2 ↓
17 United Kingdom 329.6 ↓ 49 Oman 62.2 ↑ 81 Bosnia Herzegovina 21.4 ↓ 113 North Macedonia 7.1 ↓ 145 Bhutan 1.9 ↓
18 Italy 303.8 ↓ 50 Austria 60.6 ↓ 82 Sri Lanka 21.1 ↓ 114 Cameroon 6.9 ↓ 146 Niger 1.7 ↓
19 Poland 299.6 ↓ 51 Belarus 57.4 ↓ 83 Bolivia 20.7 ↓ 115 Latvia 6.8 ↓ 147 Malta 1.6 ↓
20 Kazakhstan 291.3 ↓ 52 Israel 56.4 ↓ 84 Cuba 20.2 ↓ 116 Benin 6.7 ↓ 148 Malawi 1.4 ↓
21 France 276.6 ↓ 53 Greece 52.2 ↓ 85 Guatemala 18.9 ↓ 117 Papua New Guinea 6.7 ↑ 149 Fiji 1.4 ↑
22 Malaysia 272.6 ↓ 54 Libya 50.7 ↓ 86 Sudan 18.9 ↓ 118 Zambia 6.6 ↓ 150 South Sudan 1.2 ↓
23 Thailand 257.8 ↓ 55 Hungary 48.3 ↓ 87 Croatia 17.0 ↓ 119 Mozambique 6.6 ↓ 151 Rwanda 1.0 ↓
24 Vietnam 254.3 ↓ 56 Singapore 45.5 ↓ 88 Nepal 17.0 ↓ 120 Botswana 6.5 ↓ 152 Chad 0.9 ↓
25 Pakistan 234.8 ↑ 57 Peru 44.7 ↓ 89 Kenya 16.1 ↓ 121 Cyprus 6.5 ↓ 153 Sierra Leone 0.9 ↓
26 Ukraine 213.9 ↓ 58 Serbia 43.1 ↓ 90 Ghana 16.0 ↓ 122 El Salvador 6.1 ↓ 154 Burundi 0.6 ↓
27 Egypt 213.5 ↓ 59 Norway 41.3 ↓ 91 Cambodia 15.3 ↓ 123 Armenia 5.9 ↑ 155 Belize 0.6 ↓
28 Iraq 210.8 ↓ 60 Portugal 40.4 ↓ 92 Ethiopia 14.7 ↓ 124 Uruguay 5.8 ↓ 156 Somalia 0.6 ↓
29 Spain 208.9 ↓ 61 Finland 39.3 ↓ 93 Lithuania 13.8 ↓ 125 Moldova 5.1 ↓ 157 Timor-Leste 0.5 ↑
30 Argentina 157.0 ↓ 62 Sweden 38.6 ↓ 94 Slovenia 12.6 ↓ 126 Nicaragua 5.1 ↓ 158 Gambia 0.5 ↓
31 Algeria 155.0 ↓ 63 Azerbaijan 37.7 ↓ 95 Afghanistan 12.2 ↑ 127 Uganda 4.9 ↓ 159 Seychelles 0.5 ↓
32 UAE 150.3 ↓ 64 Bulgaria 37.4 ↓ 96 Kyrgyzstan 11.5 ↑ 128 Albania 4.5 ↓ 160 Djibouti 0.4 ↓

42 Notes: Countries not included in the Statista Country Reports are omitted in this table (1) Territorial CO2 emissions are carbon dioxide emissions referring to the country in which they physically occur

Sources: Global Carbon Atlas 2022

 Venezuela has the 76th highest carbon dioxide emissions per capita in 2020
CO2 Emissions per capita

Territorial CO2 emissions(1) per capita in tonnes in 2020 and variation since 2019
# Country Value Change # Country Value Change # Country Value Change # Country Value Change # Country Value Change
1 Qatar 37.01945 ↓ 33 Finland 7.090703 ↓ 65 Azerbaijan 3.720272 ↓ 97 Ecuador 1.7532 ↓ 129 Bangladesh 0.563738 ↓
2 Mongolia 26.97803 ↓ 34 New Zealand 6.941846 ↓ 66 Romania 3.715363 ↓ 98 Colombia 1.751176 ↓ 130 Benin 0.55289 ↓
3 Brunei Darussalam 23.22054 ↑ 35 Ireland 6.753776 ↓ 67 Thailand 3.692921 ↓ 99 Morocco 1.748451 ↓ 131 Ghana 0.514959 ↓
4 Kuwait 20.82511 ↓ 36 Austria 6.732425 ↓ 68 Montenegro 3.677798 ↓ 100 Syria 1.744614 ↓ 132 Sudan 0.430092 ↓
5 Bahrain 20.54573 ↓ 37 Bosnia Herzegovina 6.528248 ↓ 69 Malta 3.612106 ↓ 101 Uruguay 1.681219 ↓ 133 Timor-Leste 0.398727 ↓
6 Saudi Arabia 17.9672 ↓ 38 Israel 6.510389 ↓ 70 Latvia 3.590715 ↓ 102 Albania 1.575754 ↓ 134 Ivory Coast 0.38178 ↓
7 Kazakhstan 15.51581 ↓ 39 Belarus 6.079314 ↓ 71 Algeria 3.534591 ↓ 103 Fiji 1.554362 ↓ 135 Zambia 0.357535 ↓
8 Australia 15.36838 ↓ 40 Slovenia 6.042989 ↓ 72 Argentina 3.473292 ↓ 104 Costa Rica 1.552261 ↓ 136 Djibouti 0.355729 ↓
9 UAE 15.19334 ↓ 41 Slovakia 5.628647 ↓ 73 North Macedonia 3.430253 ↓ 105 Namibia 1.525913 ↓ 137 Yemen 0.32751 ↓
10 United States 14.23786 ↓ 42 Bulgaria 5.388846 ↓ 74 Uzbekistan 3.369793 ↓ 106 Belize 1.465666 ↓ 138 Afghanistan 0.312376 ↓
11 Canada 14.19694 ↓ 43 Cyprus 5.380504 ↓ 75 Mauritius 3.12903 ↓ 107 Peru 1.355887 ↓ 139 Kenya 0.300274 ↓
12 Luxembourg 13.05893 ↓ 44 Iraq 5.241572 ↓ 76 Venezuela 2.975442 ↓ 108 Moldova 1.275892 ↑ 140 Togo 0.264727 ↓
13 Turkmenistan 12.49133 ↓ 45 Lithuania 5.06908 ↑ 77 Guyana 2.813164 ↓ 109 Philippines 1.241254 ↓ 141 Cameroon 0.259524 ↓
14 Oman 12.17293 ↓ 46 Italy 5.024911 ↓ 78 Botswana 2.772081 ↓ 110 North Korea 1.137023 ↓ 142 Guinea 0.258437 ↓
15 South Korea 11.65622 ↓ 47 Greece 5.011497 ↓ 79 Mexico 2.768638 ↓ 111 Pakistan 1.062756 ↓ 143 Haiti 0.25604 ↓
16 Russia 10.80715 ↓ 48 Hungary 4.997282 ↓ 80 Vietnam 2.612563 ↓ 112 Paraguay 1.061291 ↓ 144 Mozambique 0.210232 ↓
17 Iran 8.87021 ↑ 49 Seychelles 4.993238 ↓ 81 Dominican Republic 2.559876 ↓ 113 Guatemala 1.057064 ↓ 145 Gambia 0.206859 ↓
18 Iceland 8.603839 ↓ 50 Serbia 4.936885 ↓ 82 Jamaica 2.508977 ↓ 114 Lesotho 1.019209 ↓ 146 Burkina Faso 0.189903 ↓
19 Malaysia 8.422647 ↓ 51 Ukraine 4.891162 ↓ 83 Georgia 2.498792 ↓ 115 Tajikistan 0.990569 ↑ 147 Tanzania 0.183121 ↓
20 Czechia 8.215039 ↓ 52 United Kingdom 4.854887 ↓ 84 Panama 2.498281 ↓ 116 Sri Lanka 0.985665 ↓ 148 Mali 0.167401 ↓
21 Japan 8.149939 ↓ 53 Turkey 4.657321 ↓ 85 Jordan 2.497997 ↓ 117 Honduras 0.975263 ↓ 149 Madagascar 0.132881 ↓
22 Netherlands 8.059593 ↓ 54 Laos 4.652123 ↓ 86 Bhutan 2.495308 ↓ 118 El Salvador 0.944111 ↓ 150 Ethiopia 0.12756 ↓
23 Poland 7.915974 ↓ 55 Denmark 4.522442 ↓ 87 Tunisia 2.379864 ↓ 119 Cambodia 0.91666 ↓ 151 Sierra Leone 0.109965 ↓
24 Estonia 7.879475 ↓ 56 Spain 4.468313 ↓ 88 Brazil 2.198837 ↓ 120 Nicaragua 0.765893 ↓ 152 Uganda 0.106954 ↓
25 Singapore 7.77799 ↓ 57 Chile 4.246215 ↓ 89 Indonesia 2.155208 ↓ 121 Papua New Guinea 0.743499 ↓ 153 South Sudan 0.105345 ↓
26 Germany 7.690142 ↓ 58 France 4.238073 ↓ 90 Egypt 2.085874 ↓ 122 Zimbabwe 0.708562 ↓ 154 Rwanda 0.079732 ↓
27 South Africa 7.62042 ↓ 59 Croatia 4.136637 ↓ 91 Armenia 1.987788 ↑ 123 Angola 0.67541 ↓ 155 Malawi 0.072922 ↓
28 Norway 7.615046 ↓ 60 Portugal 3.960866 ↓ 92 Gabon 1.931138 ↓ 124 Myanmar 0.667628 ↑ 156 Niger 0.069832 ↓
29 China 7.411736 ↑ 61 Sweden 3.825506 ↓ 93 Cuba 1.779199 ↓ 125 Senegal 0.624179 ↓ 157 Chad 0.05554 ↓
30 Libya 7.381523 ↓ 62 Lebanon 3.804778 ↓ 94 Bolivia 1.77332 ↓ 126 Nigeria 0.608631 ↓ 158 Burundi 0.050643 ↓
31 Equatorial Guinea 7.316757 ↓ 63 Suriname 3.791474 ↓ 95 India 1.769409 ↓ 127 Nepal 0.582003 ↓ 159 Somalia 0.03537 ↓
32 Belgium 7.226206 ↓ 64 Switzerland 3.731913 ↓ 96 Kyrgyzstan 1.763865 ↑ 128 Rep. of the Congo 0.564833 ↓ 160 Congo (Dem. Rep.) 0.02766 ↓

43 Notes: Countries not included in the Statista Country Reports are omitted in this table (1) Territorial CO2 emissions are carbon dioxide emissions referring to the country in which they physically occur

Sources: Global Carbon Atlas 2022

 In a 2019 global comparison, Venezuela had a medium exposure to particulates
Particulate Exposure

Mean exposure to PM2.5 in micrograms per cubic meter in 2019

The PM2.5 exposure in Venezuela for

the average population is 22.2

The country ranks #136 in a

comparison of 230 countries covered
by the source

• PM2.5 are fine liquid or solid particles,

such as dust or smog, which are
found in the air. "2.5" refers to its size
which is <2.5 microns in diameter. As
a comparison, human hair is 50-70
microns in diameter

• PM2.5 is the air pollutant that poses

the greatest risk to health according
0-15 16-30 31-45 46-60 61+ to the World Health Organization

44 Notes: PM2.5 stands for "particulate matter" of size "less than 2.5 microns in diameter." The concentration of PM2.5 in the air is measured in micrograms per cubic meter or µg/m³

Sources: OECD 2022

 Tachira has the highest exposure to air pollution in Venezuela
Exposure to Air Pollution

Mean population exposure to PM2.5 (micrograms per cubic meter) in 2019 Mean population exposure to PM2.5 (micrograms per cubic meter)

43,3
World
42,5

23,5
Venezuela
22,2

28,6
Tachira
25,5

27,4
Merida
25,2

27,7
Barinas
24,4

18.4 25.5 2010 2019

45 Notes: PM2.5 stands for "particulate matter" of size "less than 2.5 microns in diameter." The concentration of PM2.5 in the air is measured in micrograms per cubic meter or µg/m³

Sources: OECD 2022; Statista 2022

 Compared to the average of the continent, Venezuela has a higher share in
renewables
Energy Share

Energy shares in Venezuela in 2020 Energy shares in Americas in 2020

16,1%
19,5%

33,6%
36,6%
0.0% 6,6%
Growth in Ave. Growth in
renewables renewables

-15.77% 2.89%
2016-2020 CAGR(2) 2016-2020 CAGR(2)

0.0%

32,1%
8,6%
46,8%

Renewables(1) Nuclear Gas Coal Oil

46 Notes: Regional average value refers to the countries covered by the Statista Country Reports and the source (1) Renewable energies include hydropower, solar, wind, and other renewable sources (2) CAGR: Compound Annual
Growth Rate / average growth rate per year
Sources:: bp 2022; Statista 2022
 In a 2000-2019 global comparison, Venezuela had a low recurrence of extreme
weather events
Global Climate Risk Index

Global Climate Risk Index(1) • In 2000–2019, Puerto Rico, Myanmar,

and Haiti were the countries most
affected by extreme weather events

• More than 475,000 people died as a

direct result of over 11,000 extreme
weather events

• Economic losses amounted to

approximately US$2.56 trillion (in
purchasing power parity terms)

• Storms and their direct impacts:

precipitation, flooding, and landslides,
were among the major causes of loss
and damage, in 2019

• Developing countries are particularly

affected by the impacts of climate
change
1-25 26-50 51-75 76-100 >100

47 Notes: (1) Analyses and ranks to what extent countries and regions have been affected by impacts of climate related extreme weather events (storms, floods, heatwaves etc.), with lower scores corresponding to more affected. The
most recent data available from 2000 to 2019 was taken into account.
Sources: Germanwatch 2021
CHAPTER 08

Politics
 Venezuela is a federal presidential republic
Political Profile

General information Most recent election results

• Government type: federal presidential republic Venezuelan National Assembly, 2020

• Head of State: President Nicolas MADURO (since

April 19, 2013); Note: the legetimecy of Maduros
4.0%
presidedency is contested. Most western 1.1%
Democracies recognize Juan GUAIDO as the legitim 1.1%
Interim President 2.5%

• Head of Government: President Nicolas MADURO

• Women in parliament: 14.4%

• Freedom House Global Score: 14

91.3%
• Freedom House Internet Score (1) : 28
Partido Socialistia Unido de Venezuela
Accion Democratica
Avanzada Progresista
El Cambio
Other

49 Notes: (1) Measures each country’s level of internet freedom based on a set of methodology questions. Actions by nonstate actors, including technology companies, are also considered. The index is ranked from free (100-70), partly
free (69-40) to not free (39-0)
Sources: Statista 2022; CIA 2022; Freedom House 2022; International Foundation for Electoral Systems 2022
 In 'control on corruption' Venezuela is 88 points behind regional high performer
Institutional Framework

Comparison of country and territory scores to highest and lowest scores in the region and worldwide

Gender equality(1) in 2020 Gay rights(2) in 2019 Control on corruption in 2020 Freedom of press(3) in 2020

Venezuela 69,9 Venezuela 59,0 Venezuela 3,8 Venezuela 52,4

Regional high and low

Nicaragua 79,6 Uruguay 100,0 Canada 91,8 Costa Rica 91,2

Guatemala 65,5 Jamaica 30,0 Venezuela 3,8 Cuba 36,1

Global high and low

Uruguay, Belgium,
Iceland 89,2 Denmark, Malta, 100,0 Denmark 100,0 Norway 93,3
Sweden
Somalia, Iran,
Afghanistan 44,4 4,0 South Sudan 0.0 North Korea 18,7
Saudi Arabia

50 Notes: (1) Index values transformed from 0-1 scale to 0-100 (2) Values in percentage. The categorization is grouped as follows: 0-59% for persecuting countries, 60-69% for intolerant countries, 70-79% resistant countries, 80-89% for
tolerant countries, and 90-100% for protecting countries (3) Original values have been inverted to fit in with the other indexes; high values now indicate more freedom than small ones
Sources: World Economic Forum 2021; Reporters without Borders 2021; World Bank 2021; Franklin&Marshall College 2019; Statista 2020
 Control of corruption is rated as weak in Venezuela
Political Environment: Corruption Control

Efficiency of corruption control(1) in 2020

# Country Percentile rank # Country Percentile rank # Country Percentile rank # Country Percentile rank # Country Percentile rank
1 Denmark 100.00 33 Spain 76.44 65 China 52.88 97 Peru 33.65 129 Bangladesh 16.83
2 Finland 99.52 34 South Korea 75.96 66 Tunisia 52.40 98 Panama 33.17 130 Azerbaijan 16.35
3 Singapore 99.04 35 Latvia 75.48 67 Lesotho 51.92 99 Ivory Coast 32.69 131 Uzbekistan 15.87
4 New Zealand 98.56 36 Poland 73.08 68 Burkina Faso 51.44 100 Ecuador 32.21 132 Uganda 15.38
5 Sweden 98.08 37 Fiji 72.60 69 Ghana 50.48 101 Albania 31.73 133 Laos 14.90
6 Norway 97.60 38 Botswana 72.12 70 Argentina 50.00 102 Papua New Guinea 30.77 134 Iran 14.42
7 Switzerland 97.12 39 Georgia 71.63 71 Cuba 49.52 103 Moldova 30.29 135 Guatemala 13.94
8 Luxembourg 96.63 40 Czechia 71.15 72 Guyana 48.56 104 Nepal 29.81 136 Nigeria 13.46
9 Netherlands 96.15 41 Israel 70.67 73 Belarus 48.08 105 El Salvador 29.33 137 Kyrgyzstan 12.98
10 Germany 95.19 42 Rwanda 69.71 74 Colombia 47.60 106 Bosnia & Herzegovina 28.85 138 Cameroon 12.50
11 Iceland 94.71 43 Italy 69.23 75 Belize 47.12 107 Algeria 28.37 139 Lebanon 12.02
12 United Kingdom 94.23 44 Mauritius 67.79 76 India 46.63 108 Myanmar 27.88 140 Cambodia 11.06
13 Australia 93.75 45 Slovakia 66.35 77 Bulgaria 46.15 109 Niger 27.40 141 Nicaragua 10.58
14 Bhutan 92.79 46 Cyprus 65.87 78 Sri Lanka 45.67 110 Dominican Republic 26.92 142 Zimbabwe 10.10
15 Estonia 92.31 47 Malta 64.90 79 Timor-Leste 45.19 111 Zambia 26.44 143 Iraq 9.13
16 Canada 91.83 48 Namibia 63.94 80 Turkey 44.23 112 Mozambique 25.96 144 Haiti 8.17
17 Ireland 91.35 49 Saudi Arabia 62.98 81 Brazil 43.75 113 Togo 25.48 145 Tajikistan 7.69
18 Austria 90.87 50 Malaysia 62.50 82 Gambia 43.27 114 Djibouti 25.00 146 Sudan 6.73
19 Japan 90.38 51 Oman 62.02 83 Morocco 42.79 115 Bolivia 24.52 147 Republic of the Congo 6.25
20 Belgium 89.90 52 Croatia 61.54 84 Vietnam 42.31 116 Mali 24.04 148 Chad 5.77
21 Uruguay 89.42 53 Hungary 60.58 85 Sierra Leone 41.35 117 Ukraine 23.56 149 Afghanistan 5.29
22 Brunei Darussalam 87.02 54 Jordan 59.62 86 Ethiopia 40.87 118 Egypt 22.60 150 Burundi 4.81
23 Seychelles 86.06 55 South Africa 59.13 87 Tanzania 40.38 119 Pakistan 22.12 151 Turkmenistan 4.33
24 France 84.62 56 Greece 58.65 88 Kazakhstan 39.90 120 Mexico 21.63 152 Venezuela 3.85
25 Chile 84.13 57 Armenia 57.69 89 Malawi 39.42 121 Kenya 21.15 153 Congo (Dem. Rep.) 3.37
26 United Arab Emirates 83.17 58 Senegal 57.21 90 Indonesia 38.94 122 Honduras 20.67 154 Libya 2.88
27 United States 82.69 59 Montenegro 56.25 91 Thailand 38.46 123 Paraguay 20.19 155 Somalia 2.40
28 Lithuania 79.81 60 Jamaica 55.77 92 North Macedonia 37.98 124 Russia 19.23 156 Yemen 1.92
29 Slovenia 79.33 61 Romania 54.81 93 Serbia 37.50 125 Gabon 18.75 157 North Korea 1.44
30 Qatar 77.88 62 Benin 54.33 94 Suriname 37.02 126 Angola 18.27 158 Equatorial Guinea 0.96
31 Costa Rica 77.40 63 Kuwait 53.85 95 Mongolia 34.62 127 Guinea 17.79 159 Syria 0.48
32 Portugal 76.92 64 Bahrain 53.37 96 Philippines 34.13 128 Madagascar 17.31 160 South Sudan 0.00

51 Notes: Only countries covered by the Statista Country Reports are considered for the comparison (1) Percentile rank among all countries (ranges from 0 (lowest) to 100 (highest) rank). Perceptions on the extent to which public
power is exercised for private gain, including both petty and grand forms of corruption as well as "capture" of the state by elites and private interests
Sources: World Bank 2022
 Rule of law in Venezuela is very low
Political Environment: Rule of Law

Global percentile rankings(1) in rule of law in 2020

With regard to the rule of law, Venezuela ranked #209 in a comparison of 209
countries and territories covered by the World Bank Worldwide Governance
Indicators in 2020

• Percentile rank indicates the country's rank among all countries covered by the
aggregate indicator, with 0 indicating the lowest and 100 to the highest.

• Rule of law refers to the influence and authority of law within society, particularly
in terms of its efficacy as a deterrent against negative behaviors, including those
exhibited by government officials. This indicator presents information about the
level of confidence that the population of a specific country places in its legal
authorities and law enforcement system as well as information about the
probability of crime and violence to occur in that country.

• The rule of law also measures factors such as the time and cost for resolving a
commercial dispute.

0-20% 21%-40% 41-60% 71-80% 81-100%

52 Notes: (1) The percentiles are referring to a ranking of all countries and territories that are covered by the Statista Country Reports 2022

Sources: World Bank 2022

 Regulatory quality in Venezuela is on a very low level
Political Environment: Regulatory Quality

Global percentile rankings(1) in regulatory quality in 2020

In 2020, Venezuela ranked #206 in regulatory quality out of 209 countries and
territories covered by the Worldwide Governance Indicators

It placed #26 when compared to other 26 countries in its region, Americas

• Percentile rank indicates the country's rank among all countries covered by the
aggregate indicator, with 0 corresponding to the lowest rank and 100 to the
highest rank

• Regulations are defined as the principles that govern the everyday life of a
country. Regulatory quality refers to the ability of the government to create and
implement policies as well as procedures that support economic growth and
social welfare.
0-20% 21%-40% 41-60% 71-80% 81-100%

53 Notes: (1) The percentiles are referring to a ranking of all countries and territories that are covered by the Statista Country Reports 2022

Sources: World Bank 2022

CHAPTER 09

Security
 Venezuela has very high risk of political instability and/or politically-motivated
violence
Internal Security

Governance against political instability and threat of violence/terrorism(1) in 2020

# Country Value # Country Value # Country Value # Country Value # Country Value
1 New Zealand 1.49 33 Germany 0.67 65 Chile 0.07 97 Brazil -0.42 129 Bangladesh -0.92
2 Singapore 1.47 34 Qatar 0.67 66 Argentina 0.04 98 Kyrgyzstan -0.43 130 Togo -0.92
3 Iceland 1.39 35 Namibia 0.65 67 Rwanda 0.03 99 Guatemala -0.43 131 Ivory Coast -0.98
4 Norway 1.25 36 Slovakia 0.64 68 Paraguay 0.02 100 Georgia -0.43 132 Kenya -1.00
5 Luxembourg 1.23 37 United Arab Emirates 0.63 69 Montenegro 0.00 101 Uzbekistan -0.44 133 Haiti -1.04
6 Switzerland 1.19 38 Croatia 0.61 70 Senegal -0.02 102 Benin -0.44 134 Zimbabwe -1.08
7 Brunei Darussalam 1.12 39 Cuba 0.60 71 United States -0.02 103 Madagascar -0.46 135 Mozambique -1.16
8 Canada 1.11 40 Belgium 0.59 72 El Salvador -0.02 104 Bolivia -0.47 136 Ukraine -1.16
9 Botswana 1.09 41 Romania 0.59 73 Sri Lanka -0.05 105 Indonesia -0.50 137 Turkey -1.19
10 Uruguay 1.05 42 Poland 0.57 74 Vietnam -0.07 106 Bosnia and Herzegovina -0.51 138 Egypt -1.21
11 Japan 1.04 43 South Korea 0.56 75 Gabon -0.08 107 Tajikistan -0.52 139 Chad -1.26
12 Portugal 1.03 44 Belize 0.51 76 Serbia -0.09 108 Angola -0.52 140 Burundi -1.41
13 Sweden 1.02 45 United Kingdom 0.47 77 Zambia -0.13 109 Honduras -0.54 141 Myanmar -1.51
14 Bhutan 1.02 46 Bulgaria 0.47 78 Guyana -0.15 110 Armenia -0.57 142 Venezuela -1.52
15 Ireland 0.98 47 Latvia 0.46 79 Equatorial Guinea -0.19 111 Bahrain -0.59 143 Cameroon -1.53
16 Malta 0.95 48 Italy 0.44 80 Nepal -0.20 112 Thailand -0.62 144 Burkina Faso -1.55
17 Finland 0.94 49 Suriname 0.42 81 Cambodia -0.24 113 Tunisia -0.63 145 Lebanon -1.65
18 Denmark 0.94 50 Spain 0.40 82 South Africa -0.24 114 Guinea -0.64 146 Iran -1.67
19 Czechia 0.92 51 Oman 0.37 83 Malawi -0.24 115 Nicaragua -0.65 147 Congo (Dem. Rep.) -1.71
20 Mauritius 0.89 52 France 0.31 84 Sierra Leone -0.24 116 Saudi Arabia -0.66 148 Ethiopia -1.74
21 Lithuania 0.87 53 Cyprus 0.29 85 Kazakhstan -0.26 117 Colombia -0.67 149 Niger -1.74
22 Hungary 0.86 54 Jamaica 0.27 86 Peru -0.29 118 Azerbaijan -0.73 150 Sudan -1.76
23 Austria 0.85 55 Gambia 0.25 87 Turkmenistan -0.29 119 Belarus -0.73 151 Pakistan -1.85
24 Netherlands 0.85 56 Kuwait 0.24 88 China -0.29 120 Russia -0.73 152 Nigeria -1.86
25 Australia 0.85 57 Panama 0.23 89 Djibouti -0.32 121 Papua New Guinea -0.74 153 Mali -2.15
26 Mongolia 0.79 58 Timor-Leste 0.18 90 Jordan -0.32 122 Uganda -0.78 154 South Sudan -2.17
27 Costa Rica 0.76 59 Dominican Republic 0.17 91 Morocco -0.33 123 Philippines -0.79 155 Libya -2.48
28 Fiji 0.75 60 Ghana 0.13 92 Lesotho -0.33 124 Israel -0.83 156 Somalia -2.52
29 Seychelles 0.72 61 Greece 0.13 93 Ecuador -0.36 125 Mexico -0.85 157 Iraq -2.53
30 Estonia 0.71 62 Malaysia 0.12 94 North Korea -0.40 126 Algeria -0.86 158 Yemen -2.67
31 Slovenia 0.71 63 North Macedonia 0.10 95 Tanzania -0.41 127 India -0.86 159 Afghanistan -2.73
32 Laos 0.68 64 Albania 0.08 96 Moldova -0.42 128 Republic of the Congo -0.90 160 Syria -2.73

55 Notes: Only countries covered by the Statista Country Reports are considered for the comparison (1) Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism. The index
is ranked from strong (2.0) to weak (-3)
Sources: World Bank 2022
Appendix
 Methodology and data used in this report
Data Description and Methods (1/2)

Data sources Difference between current and constant US$

The Statista Country Reports present quantitative data from various private and Data reported in current US$ reflects the value that the currency has in a specific
public sources of information. These sources include the International Monetary year. The current data series is influenced by the effect of price inflation and
Fund, the World Bank, the United Nations, the OECD, the World Economic Forum, differences in exchange rates, and the comparability of growth rates between
the International Labour Organization, the CIA World Factbook, the Freedom countries is limited.
House, the International Foundation for Electoral Systems, and Statista itself. The
Data expressed in constant US$ reflects the value of a currency in a specified base
data sources are indicated in footnotes throughout the report.
year. The individual base year listed in a country’s national accounts differs from
Real GDP calculation country to country. Constant series are used to measure the true growth of a series
by adjusting for the effects of price inflation.
A country's real GDP is an inflation-adjusted GDP assessment reflecting its net
growth. It can be used to compare economy sizes across countries. The data in this
report is presented in U.S. dollars and maintains the growth rates of the real GDP
series. The data is expressed in the base year of each country‘s national accounts,
and the year is specified for each country. For more information, please refer to the
FAQ section of the World Economic Outlook Database.

57

:
 Methodology and data used in this report
Data Description and Methods (2/2)

Business culture data The Statista Fact Check included 254 participants and covered 127 countries
worldwide. The information presented by the Statista Fact Check gives the reader
Data related to country-specific business cultures was collected between January 5
an impression of the retail structures within the country and cannot always be
and February 19, 2019. In order to obtain reliable insights into business cultures for
generalized.
each country, only individuals with business experience in their respective countries
were included in the survey. Determination of retail market development stages

The survey sample consisted of 381 participants and a total of 127 countries. Due The development stages of retail markets were identified based on the specific
to the small sample size, the information presented in this report gives the reader a features of each individual retail market. In cases in which only two out of three
subjective, approximate impression of the business culture in a country and cannot features qualified a country for a certain development stage, the country was
always be generalized. placed in the transition zone or at the beginning of the higher development stage.
For instance, in Egypt, international chains operate in rural areas as well as
Statista Fact Check
medium-sized and large cities, and the grocery market is characterized by
The Statista Fact Check of international retail structures was carried out between international, national, and independent store ownership (all indicators for a well-
January 5 and February 19, 2019. In order to collect information about the national developed retail market). But since payment options do not yet incorporate
retail characteristics, only people living in the country of interest were asked to smartphones and only include traditional and electronic methods (indicator for a
participate in the Fact Check. maturing market), Egypt was assigned an early well-developed retail market stage.

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:
 INDUSTRY REPORTS

Gain valuable insights into

your industry
Looking to discover new sectors for your business or in need of the
most important key figures in your industry? The Industry Reports
provide a comprehensive overview of the most important key
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Global Europe Asia Germany United States United Kingdom

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 GLOBAL BUSINESS CITY REPORTS

Take an extraordinary trip to Global

Business Cities around the world
Urbanization is a megatrend that is changing the economic
landscape on a global scale. Cities are central market places and
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as a business hub for companies.

• Up to 200 cities worldwide in 70+ countries and territories

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60
 COUNTRY REPORTS

Gain country-specific insights

for your future business decisions
The Country Reports provide in-depth information about the most
relevant trends, opportunities, and risks concerning your
international businesses and can help you to analyze them quickly
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• Up to 160 countries and territories

• 75+ of the most relevant KPIs
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61
 GLOBAL CONSUMER SURVEY 2022

Understand what drives

consumers
The Statista Global Consumer Survey offers a global perspective on
consumption and media usage, covering the offline and online
world of the consumer. Our survey is designed to help marketers,
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and consumer interactions with brands.

• Cross-tabulation
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+
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1,700,000+ 56 3.4bn.+ 14,500+ 50+

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interviews countries & represented international topics &
territories consumers brands industries

62
 DIGITAL MARKET OUTLOOK

The digital future of

90+ markets in over 150 locations
The Digital Market Outlook presents up-to-date figures on markets
of the digital economy. The comparable key figures are based on
extensive analyses of relevant indicators from the areas of society,
economy, and technology.

• Eight digital verticals: eCommerce, Smart Home, Digital

Media, eServices, FinTech, Digital Advertising, Digital
Health, and App
• Covering the period 2017 to 2026

Find out more on:

Go to Outlook statista.com/outlook/digital-markets

63
 ECOMMERCEDB

eCommerce insights
for your needs
We cover 28,000 stores in 57 countries and territories and provide
detailed information about revenue analytics, competitor analyses,
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including traffic, shipping providers, payment options, social media
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• In-depth analyses for 20,000+ online store URLs

• Adjustable top, category, country, and region rankings
+
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Go to ecommerceDB ecommerceDB.com

64
 TOPLISTS

Insight into over

150 company rankings
With the Statista Toplists, you’ll be able to gain insights into the
biggest companies in a country, territory, or industry. The rankings
are based on the companies’ revenues. The Toplists offer an ideal
springboard for researching leads in your sales department and
gaining insights into new markets. They can serve as a starting point
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• The most important company figures and KPIs at one

glance
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65
 COMPANY DB

Gain insights into over

20 million companies
The Company Database provides information on more than 20
million listed and privately held companies and contains the most
important company key figures as well as in-depth analyses.
Additionally, we offer a wide range of extra KPIs for listed
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• Company information and key company metrics for 20+

million companies worldwide
• Tailored rankings in 200+ countries and territories as well
as 80+ industries
• In-depth information for 50,000+ stock-listed companies

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Go to Company DB statista.com/companydb/about

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 INDUSTRY OUTLOOK

Industry development
across the world
The Industry Outlook features industry forecasts and market
information based on data from national statistical offices. With its
time series analyses, the Industry Outlook provides a
comprehensive and reliable basis for decision-making.

• Industry forecasts for your business case

• Adherence to International Standard Industrial
Classification (ISIC)
• Up to 100 industries per country
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Go to Outlook statista.com/outlook/industry-outlook

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 CONTENT & INFORMATION DESIGN

Experts for your

project’s success
We at Statista Content & Information Design have been working
with data, facts, and analyses for years and for this reason
especially understand how these can be visually processed in the
best way possible. Our experienced team of consultants, editors,
designers, and digital marketing experts conduct research, analyze,
and filter data or process your content. From concept all the way to
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We turn data into brand experiences – in an understandable and

detailed manner. With our individual graphics, animated videos,
presentations, as well as white papers and interactive microsites.

Find out more on:

Visit our website
statista.design/en/

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 STATISTA Q

Your Partner for

data related questions
Statista Q is a division of Statista and offers individual and data-based
research and analysis services for companies. This includes quantitative
and qualitative market research projects. Our Team now comprises over
100 analysts, market researchers, and industry experts, who try to
answer your questions from the following six topics:

Find out more on:

Visit Statista Q q.statista.com/

69
 Authors

Leonie Senn-Kalb Tam Huu Nguyen Luana Stefan

Team Lead Reports Analyst Analyst

[email protected] [email protected] [email protected]

As Team Lead for the Industry, Country, Global Tam Huu Nguyen studied Economics, Law, and Politics Luana Stefan studied Economics at the Ruperto Carola
Business City, and In-Depth Reports since 2022, Leonie in Hanoi, Hamburg, Hagen, and Lüneburg. Before University of Heidelberg.
Senn-Kalb specializes in economic and societal topics joining Statista, he conducted research in international
Before joining Statista, she gathered experience in
as well as market and industry insights. Additionally, macroeconomics, finance, and politics in various
distribution network strategy and business analysis.
she continues to carry out the tasks of her previous research institutes in Vietnam and Germany.
role at Statista as Senior Project Manager, leading
department-wide projects. Before that, she worked as
a consultant at EY for Transaction Advisory Services
with a focus on large carve-out and integration
projects.​

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 Authors

Jonas Sieveneck Marie Hölscher Aswathy Venugopal

Analyst Junior Analyst Junior Analyst

[email protected] [email protected] [email protected]

Jonas Sieveneck studied Political Science and As a former working student, Marie joined the Statista Aswathy studies Computer Science at the University of
International Criminology in Marburg and Hamburg. Reports team as a Junior Analyst in April 2022. Passau. She completed her Bachelors in
Information Technology from Mahatma Gandhi
His initial work experience at Statista was acquired as After studying economics and sociology at University
University, India. Before joining Statista, she
a student while completing his master’s degree. He of Hamburg, she is currently proceeding with her
gathered experience as a Business Analyst
has been a Junior Analyst since Autumn 2020 and master’s degree in Public and Nonprofit Studies,
from Amazon, Munich.
works as an Analyst since January 2022. focusing on digitalization and cross-sector topics.

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