Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Poverty and inequality in Venezuela - statistics & facts
Venezuela was once one of Latin America’s most prosperous nations, driven by a rapidly expanding oil industry in the early 20th century. However, years of declining oil production, chronic hyperinflation, economic mismanagement, and international sanctions linked to human rights abuses have pushed the country into a deep and prolonged crisis. Today, Venezuela is among the most unequal societies in the region and faces extremely high poverty levels. A 2024 survey estimates that around 71 percent of households live in poverty, while 67 percent live in extreme poverty.
Rising inequality in Venezuela
Latin America ranks consistently as one of the most unequal regions in the world with the poorest 50 percent only holding 0.7 percent of the regional wealth. Venezuela follows a similar pattern. In 2024, the country recorded a GINI coefficient of 53.9, reflecting a sustained increase in inequality over at least the past nine years. The GINI coefficient measures inequality in income, wealth, or consumption, where a value of zero represents perfect equality and 100 represents total inequality. In the most recent survey from the Economic Commission for Latin America and the Caribbean (CEPAL), around 84 percent of the people in Venezuela thinks that the income distribution in the country is unfair.
The Humanitarian crisis and its consequences for food security
For more than two decades, Venezuela has faced a severe humanitarian crisis marked by persistent shortages of basic goods. Empty shelves, insufficient supplies, and the continuous rise in food prices, driven by high inflation and declining purchasing power, have significantly worsened living conditions. These factors have contributed to a prolonged situation of food insecurity. By the end of 2025, an estimated 5.1 million people were expected to require urgent food assistance, with food insecurity prevalence projected at around 16 percent in that year. As a result, Venezuela ranks among the ten lowest-scoring nations in the Global Food Security Index. In 2024, 78 percent of Venezuelans reported constant fear of running out of food, while 56 percent stopped consuming healthy foods, highlighting the widespread deterioration in both food access and diet quality.
Democratic conflict and its implications for food security
One of the key unresolved questions concerns the future of Venezuela’s humanitarian and food security crisis amid ongoing political instability now that Nicolás Maduro, former President of Venezuela, was captured by the U.S. military. Debates remain divided over potential pathways toward re-establishing a democratic system capable of responding effectively to citizens’ needs. Nevertheless, there is broad agreement that the Maduro regime bears primary responsibility for the ongoing crisis, with poverty and hunger representing its most severe consequences. At the same time, survey data suggest cautious optimism: in the event of a return to a democratic regime, 36 percent of respondents believe that improvements in social conditions and purchasing power would be very likely.Â
