It has the worlds largest known oil reserves and has been one of the worlds leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues.
Is Venezuela famous for anything?
This country boasts the biggest traditional oil reserves and the second-biggest natural gas reserves in the Western Hemisphere! As a result of being a central producer of petroleum products, Venezuelas oil has become the cornerstone of its economy.
What are 5 interesting facts about Venezuela?
10 Fun Facts about Venezuela#1 Venezuela is home to the worlds largest rodent.#2 Its a place where traditional toys get along with modern playing trinkets.#3 Colorful neighbors of Caracas.#4 It is a country where not all of the mountains have a peak.#5 Home to the worlds highest waterfall.More items •Dec 4, 2017
What makes Venezuela unique?
A physiographically diverse country, Venezuela incorporates the northern Andean mountain chains and interior highlands, the main portions of the Orinoco River basin with its expansive Llanos (plains), Lake Maracaibo, which is the largest lake in South America, and the spectacular Angel Falls, the worlds highest
Is Venezuela a rich or poor country?
The 2019–2020 National Survey of Living Conditions (ENCOVI, for Encuesta Nacional de Condiciones de Vida) — published by researchers at Andrés Bello Catholic University in Caracas — shows that poverty levels in Venezuela spiked during 2019, officially rendering it the poorest country in Latin America and the Caribbean.
Did Venezuela used to be rich?
Venezuela used to be the wealthiest country in South America. During most of the decades following Venezuelas adoption of a democratic government in 1958 through the 1980s, the country was the richest nation in South America, according to PRIs The World.
What is the most important holiday in Venezuela?
Carnival The most notable Venezuelan holiday is the annual Carnival, which features street parties and is held leading up to Lent, culminating in the Burial of the Sardine celebration on Shrove Tuesday.