Venezuela's Paradox: Oil Riches Amidst Deep Poverty & Political Turmoil

• Venezuela, a South American nation, possesses the world's largest oil reserves and vast natural resources like gold and natural gas.
• Despite its resource wealth, Venezuela is Latin America's second poorest country, with a per capita GDP of $4,900 and 56% of its population in extreme poverty.
• Nicolás Maduro served as President from 2013, winning disputed 2024 elections, but his rule ended with his arrest on January 3, 2026.
• Oil revenue comprises 30% of Venezuela's economy; 50% of its exports, mainly crude oil, go to the United States.
• The country heavily imports goods like refined petroleum, corn, and auto parts primarily from China.

Why It Matters: Venezuela struggles with extreme poverty and political instability despite possessing the world's largest oil reserves.