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Shortages in Venezuela of food staples and basic necessities occurred throughout Venezuela's history. [6] Scarcity became more widespread following the enactment of price controls and other policies under the government of Hugo Chávez [7] [8] and exacerbated by the policy of withholding United States dollars from importers under the government of Nicolás Maduro. [9]
Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [28] of natural resources and is not self-sufficient in most areas of agriculture. Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. [29]
Use of the Internet in Venezuela has greatly expanded, but is mostly concentrated among younger, educated city residents, and centered on the capital, Caracas. The Venezuelan economic crisis caused a prolonged period where Venezuelan had among the lowest speeds in the region, which has been drastically improving starting in 2022. [ 1 ]
The recovery of oil prices in the early 2000s gave Venezuela oil funds not seen since the 1980s. [2] A destabilized economy led to a crisis in Bolivarian Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in poverty, disease, child mortality, malnutrition, and crime. [3] [4]
Hyperinflation in Venezuela was the currency instability in Venezuela that began in 2016 during the country's ongoing socioeconomic and political crisis. [3] Venezuela began experiencing continuous and uninterrupted inflation in 1983 , with double-digit annual inflation rates.
During Venezuela's economic crisis, the rate of gold excavated fell 64.1% between February 2013 and February 2014 and iron production dropped 49.8%. [35] The production of steel and aluminium of multiple Venezuelan steelmakers dropped in 2014, with the state-owned steelmaker Sidor having a drop in production of 33.5%, the lowest levels since the 1980s.
Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [25] of natural resources and is not self-sufficient in most areas of agriculture. Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. [26]
Mass media in Venezuela comprise the mass and niche news and information communications infrastructure of Venezuela. Thus, the media of Venezuela consist of several different types of communications media: television , radio , newspapers , magazines , cinema , and Internet -based news outlets and websites.