History of Venezuela in Timeline
Venezuela, officially known as the Bolivarian Republic of Venezuela, is a country located in northern South America. It encompasses a mainland area and numerous islands in the Caribbean Sea. Covering 916,445 square kilometers (353,841 square miles), Venezuela had an estimated population of 29 million in 2022. Its capital and largest city is Caracas.
1902: Venezuela Crisis Begins
The Venezuela Crisis of 1902-1903 began, marked by a naval blockade imposed by Britain, Germany, and Italy due to Venezuela's default on foreign debts and refusal to compensate foreigners impacted by civil wars.
1903: Venezuela Crisis Resolved Through International Arbitration
The Venezuela Crisis of 1902-1903 was resolved through international arbitration at the Permanent Court of Arbitration, leading to the lifting of the naval blockade.
1908: Dispute with the Netherlands and Overthrow of Cipriano Castro
A new dispute arose between Venezuela and the Netherlands in 1908. Amidst this dispute, Cipriano Castro, the then-leader of Venezuela, traveled to Germany for medical treatment and was overthrown by Juan Vicente Gómez.
1935: End of the Gomecista Dictatorship and Continuation Under Eleazar López Contreras
1935 marked the end of the Gomecista dictatorship with the death of Juan Vicente Gómez. However, the dictatorial system persisted under the leadership of Eleazar López Contreras.
1935: Venezuela Achieves the Highest Per Capita GDP in Latin America
By 1935, fueled by the discovery and exploitation of massive oil reserves, Venezuela's per capita gross domestic product (GDP) reached the highest level in Latin America, showcasing the transformative impact of oil on the nation's economy.
1941: Relaxation of Dictatorship Under Isaías Medina Angarita
From 1941 onwards, the Gomecista dictatorship began to relax its grip on power under the presidency of Isaías Medina Angarita, who introduced various reforms, including the legalization of all political parties in Venezuela.
1943: 50/50 Profit Sharing in Oil Industry
In 1943, a new government in Venezuela introduced a policy mandating a 50/50 split of profits between the government and the oil industry, marking a significant shift in the country's oil revenue distribution.
1945: Civilian-Military Coup and the Beginning of Democratic Rule
In 1945, a civilian-military coup overthrew the existing government, ushering in a period of democratic rule in Venezuela. This marked a departure from the previous era of dictatorships, with the Democratic Action party initially taking the reins.
1945: End of the Gomecista Dictatorship
The Gomecista dictatorship finally came to an end in 1945, paving the way for a transition to democratic rule in Venezuela.
1945
The Venezuelan Professional Baseball League (LVBP) was established in 1945, marking a significant milestone in the sport's growing popularity in Venezuela.
1947: First Free and Fair Elections in Venezuela
Venezuela held its first free and fair elections in 1947. Rómulo Gallegos emerged victorious, marking a significant milestone in the country's pursuit of democracy.
1948: Military Junta Takes Power
A military junta seized control of Venezuela in 1948, marking the beginning of their rule, which lasted until 1958. This period saw the rise of Marcos Pérez Jiménez as a prominent figure.
1948: Military Coup Ends Democratic Rule
The period of democratic rule in Venezuela was abruptly interrupted in 1948 when a military junta, led by Luis Felipe Llovera Páez, Marcos Pérez Jiménez, and Carlos Delgado Chalbaud, seized power in a coup.
1950: Death of Carlos Delgado Chalbaud
Carlos Delgado Chalbaud, a member of the ruling military junta in Venezuela, was killed in a botched kidnapping attempt in 1950. This event further consolidated the power of Marcos Pérez Jiménez within the junta.
1952: Military Junta Ignores Election Results and Installs Pérez Jiménez as President
The military junta in Venezuela blatantly disregarded the results of the 1952 presidential election, which they unexpectedly lost. They proceeded to install Marcos Pérez Jiménez as president, solidifying their grip on power through undemocratic means.
1953: Name Change to República de Venezuela
In 1953, Venezuela changed its official name to República de Venezuela. This marked the country's return to a republican form of government after a period of military rule.
January 1958: Overthrow of Marcos Pérez Jiménez and the Puntofijo Pact
Marcos Pérez Jiménez, who held significant power within the military junta that had ruled Venezuela since 1948, was ousted from power in January 1958. This paved the way for the signing of the Puntofijo Pact, a power-sharing agreement between major political parties (Acción Democrática, COPEI, and Unión Republicana Democrática).
1958: End of Military Dictatorships and Start of Democratic Governments
In 1958, Venezuela saw the end of a period marked by regional military dictatorships and the beginning of a series of democratic governments. This marked a significant shift in the country's political landscape, setting the stage for economic prosperity.
1959: Rómulo Betancourt's Second Term as President and Guerilla Movements
Rómulo Betancourt assumed his second term as President of Venezuela in 1959. This period was marked by substantial guerilla movements challenging the government.
1959: Enabling Act Power Granted
Since 1959, six Venezuelan presidents have been granted the power to rule by decree in specified policy areas after asking the National Assembly to pass an enabling act.
1960: OPEC Founded
Under the leadership of Hydrocarbons Minister Juan Pablo Pérez Alfonso, Venezuela played a pivotal role in the establishment of OPEC in 1960, an organization of oil-producing nations formed to influence global oil prices.
1960: Assassination Attempt on Betancourt Orchestrated by Rafael Trujillo
An assassination attempt targeting Rómulo Betancourt, then President of Venezuela, was planned and carried out in 1960 by Rafael Trujillo, the dictator of the Dominican Republic. This event highlighted the external threats faced by Betancourt's government.
1962: Failed Revolts by Leftist Groups
Leftist groups in Venezuela, excluded from the Puntofijo Pact and seeking to undermine the government, staged revolts in 1962. These attempts to destabilize the military corps ultimately proved unsuccessful.
1964: End of Betancourt's Second Term and Guerilla Movements Continue
Rómulo Betancourt's second term as President of Venezuela concluded in 1964. Despite his efforts to quell them, guerilla movements persisted, posing ongoing challenges to the government.
1966: Geneva Agreement Signed
In 1966, the British and Venezuelan governments signed the Geneva Agreement to peacefully resolve the conflict over the territory Venezuela calls "Guayana Esequiba".
1968: COPEI Wins Presidential Election for the First Time
In a historic victory, COPEI, a political party in Venezuela, won the 1968 presidential election, marking the first time a party other than Democratic Action had achieved this feat through a democratic election. Rafael Caldera became the first COPEI president.
1969: Administrative Regions Established
In 1969, Venezuela's states were grouped into nine administrative regions by presidential decree.
1969: Rafael Caldera's First Presidency and Subsided Guerilla Movements
Rafael Caldera took office as President of Venezuela for his first term in 1969. Under his leadership, most of the guerilla movements that had plagued the country laid down their arms, bringing a period of relative peace.
1970: Port of Spain Protocol Sets Deadline
The 1970 Port of Spain Protocol set a deadline for attempting to resolve the conflict over "Guayana Esequiba", but the issue remains unresolved.
1973: Decision to Nationalize Oil Industry
Venezuela made a landmark decision in 1973 to nationalize its oil industry.
1973: Carlos Andrés Pérez Elected President Amidst Oil Crisis
Carlos Andrés Pérez was elected President of Venezuela in 1973, coinciding with a global oil crisis. This crisis led to a surge in oil prices, significantly boosting Venezuela's income as a major oil exporter.
January 1976: Nationalization of Oil Industry Takes Effect
Venezuela's nationalization of its oil industry came into full effect on January 1, 1976, with the state-owned Petróleos de Venezuela (PDVSA) assuming control of the industry.
1976: Nationalization of Oil Industries
In a significant move, Venezuela nationalized its oil industries in 1976, giving the government direct control over this crucial sector of the economy. This decision had far-reaching implications for the country's economic trajectory.
1982: Chávez's Promise to Depose Bipartisanship
In 1982, Hugo Chávez promised to depose the bipartisanship governments of Venezuela, which he later attempted to fulfill through coup attempts and political reform.
1983: Currency Devaluation and Economic Decline
Faced with mounting economic challenges and a decline in oil prices, the Venezuelan government resorted to devaluing its currency in 1983. This measure aimed to address financial obligations but led to a decline in living standards for many Venezuelans.
1983: Caracas Metro Begins Operations
The Caracas Metro, Venezuela's first underground rapid transit system, commenced operations in 1983, marking a significant development in the country's public transportation infrastructure.
1988: Carlos Andrés Pérez Re-elected
Carlos Andrés Pérez was re-elected as president of Venezuela in 1988, leading to his second term in office.
1989: The Caracazo Riots
In 1989, Venezuela experienced a wave of deadly riots known as the Caracazo. Triggered by economic hardships, these riots exposed the growing social unrest and dissatisfaction with the government's economic policies.
1989: Caracazo Riots
In 1989, during the second term of President Carlos Andrés Pérez, economic austerity measures led to the Caracazo riots, resulting in hundreds of deaths caused by security forces.
1990: Deforestation Measurement Begins
Between 1990 and 2005, Venezuela officially lost 8.3% of its forest cover, which is about 4.3 million hectares.
February 1992: Hugo Chávez's Coup Attempt
In February 1992, Hugo Chávez attempted a coup d'état against the Venezuelan government, using public discontent with economic austerity measures as justification.
1992: Two Attempted Coups
Venezuela faced two attempted coups in 1992, reflecting the intensifying political instability and the fragility of the existing political order. These events highlighted the deep divisions and discontent within Venezuelan society.
1993: Impeachment of the President
In 1993, the President of Venezuela was impeached on charges of embezzlement of public funds. This event further eroded public trust in the government and fueled disillusionment with the political establishment.
1993: Impeachment of Carlos Andrés Pérez
President Carlos Andrés Pérez was impeached in 1993 on embezzlement charges, leading to the interim presidency of Ramón José Velásquez.
March 1994: Chávez Pardoned
Hugo Chávez was pardoned in March 1994 by President Rafael Caldera, restoring his political rights and allowing him to later run for and win the presidency.
1994: Major banking crisis hits Venezuela
Venezuela was hit by a major banking crisis in 1994.
1995: Corruption Perceptions Index ranks Venezuela highly corrupt
Since its inception in 1995, the Corruption Perceptions Index has consistently ranked Venezuela as one of the most corrupt countries.
1996: Hyperinflation in Venezuela
Venezuela experienced hyperinflation in 1996, with inflation peaking at 100% as a result of the economic crisis stemming from the 1980s oil glut.
1997: Founding of the Fifth Republic Movement
Hugo Chávez founded the Fifth Republic Movement in 1997, which later played a significant role in his political career and the Bolivarian Revolution.
1998: Venezuelan Presidential Election and the Catalyst for the Bolivarian Revolution
The 1998 Venezuelan presidential election marked a turning point in the country's history, serving as the catalyst for the Bolivarian Revolution. The election of Hugo Chávez brought about a new era of populist politics and social welfare programs.
1998: Chávez Wins Presidency
Hugo Chávez won the presidential election in 1998, marking his first term in office.
1998: Chávez Elected President
Hugo Chávez was elected president of Venezuela in 1998, marking the beginning of his Bolivarian Revolution.
1999: Start of Significant Venezuelan Emigration
A 2014 study identified 1999 as the starting point of a significant wave of emigration from Venezuela.
1999: Chávez Becomes President
Hugo Chávez became president of Venezuela in 1999 after winning the election, beginning a long tenure that lasted until his death in 2013.
1999: Chávez Takes Office
Hugo Chávez took office as president of Venezuela in 1999, initiating significant political and social changes.
1999: Name Change to Bolivarian Republic of Venezuela
In 1999, Venezuela changed its official name again, this time to the Bolivarian Republic of Venezuela. This reflected the profound political and ideological shift brought about by the Bolivarian Revolution, emphasizing the legacy of Simón Bolívar.
1999: Establishment of a Constituent Assembly and Imposition of a New Constitution
In 1999, a Constituent Assembly was established in Venezuela, ultimately imposing a new Constitution. This move solidified the Bolivarian Revolution's hold on power and paved the way for significant political and social changes.
1999: New Constitution Adopted
In 1999, a new Constitution was adopted, marking the formation of the Bolivarian Republic of Venezuela and solidifying Chávez's Bolivarian Revolution.
1999
In 1999, there were 22,000 Jewish people living in Venezuela.
1999: Constitution Recognizes Indigenous Rights
Venezuela's Constitution, adopted in 1999, formally recognized the country's multi-ethnic, pluri-cultural, and multilingual character, dedicating a chapter to Indigenous peoples' rights and fostering their political inclusion.
September 2000: Millennium Development Goals
In September 2000, Venezuela and 188 other nations committed to the Millennium Development Goals, eight goals aimed at improving social and economic conditions globally.
2000: Chávez Re-elected
Hugo Chávez was re-elected president of Venezuela in 2000.
2001: Law Limits Foreign Investment in Oil
In 2001, under Hugo Chávez's leadership, a law was enacted to restrict foreign investment in Venezuela's oil sector.
2001: Oil Price Recovery Boosts Economy
Venezuela experienced an economic boost due to the recovery of oil prices in 2001, which enabled increased social spending and the implementation of programs like the Bolivarian Missions.
April 2002: 2002 Coup Attempt
In April 2002, Hugo Chávez was ousted from power in a coup d'état attempt but returned to office after two days due to demonstrations by his supporters and military actions.
December 2002: National Strike at PDVSA
A major national strike erupted at PDVSA in December 2002, paralyzing a significant portion of Venezuela's oil operations.
December 2002: National Strike Begins
A national strike began in December 2002, lasting until February 2003, including a strike/lockout in the state oil company PDVSA, leading to currency controls.
2002: Deterioration of US-Venezuela relations
Relations between Venezuela and the United States government worsened in 2002, following the US government's recognition of the short-lived interim presidency of Pedro Carmona during the Venezuelan coup d'état attempt.
February 2003: End of PDVSA Strike, Mass Dismissals
The national strike at PDVSA concluded in February 2003, but not before resulting in the dismissal of approximately 40% of the company's workforce.
February 2003: End of National Strike
The national strike, which started in December 2002, ended in February 2003, resulting in the reimposition of currency controls in Venezuela.
2003: Venezuela a transit country for drug trafficking
Between 2003 and 2008, Venezuelan authorities made the fifth-largest cocaine seizures globally, highlighting the country's role as a transit point for drug trafficking from Colombia to the United States and Europe.
2003: Conservation Management Expansion
By 2003, 70% of Venezuela's land was under conservation management in over 200 protected areas, including 43 national parks.
2003: Currency Controls Implemented
Following a period of capital flight and currency devaluation, Hugo Chávez's government introduced currency controls in 2003, leading to the emergence of a parallel dollar market.
August 2004: Recall Referendum
In August 2004, Hugo Chávez survived a recall referendum, allowing him to continue his presidency.
2004: Presidential Referendum
In 2004, Hugo Chávez won a presidential referendum, affirming his position as president.
2005: Deforestation Rate Measured
By 2005, Venezuela had officially lost 8.3% of its forest cover since 1990.
2005
In 2005, the net primary school enrollment rate was 91%, while the net secondary school enrollment rate was 63%.
December 2006: Chávez Re-elected
Hugo Chávez was re-elected for another term in December 2006.
2006: Chávez Wins Another Term
Hugo Chávez won the presidential election again in 2006, securing another term.
2006: ONA integrated into the vice-president's office
In 2006, Venezuela's anti-drug agency, ONA, was incorporated into the vice-president's office.
2006: Manufacturing sector contributes to Venezuelan economy
Manufacturing accounted for 17% of Venezuela's GDP in 2006, with production of steel, aluminium, cement, and other goods concentrated around Ciudad Guayana.
2006: Venezuela rated a "hybrid regime"
The Economist Intelligence Unit rated Venezuela a "hybrid regime" and the third least democratic in Latin America in 2006.
2007
The Simón Bolívar Youth Orchestra, a product of the publicly funded music education program El Sistema, delivered noteworthy performances in European concert halls in 2007, notably at the London Proms, earning accolades for their performance.
2007: Colombian Refugee and Asylum Seeker Influx
According to the World Refugee Survey 2008, Venezuela hosted a substantial population of Colombian refugees and asylum seekers in 2007, with an estimated 252,200 individuals seeking refuge in the country.
2007: Founding of the United Socialist Party
In 2007, Hugo Chávez founded the United Socialist Party of Venezuela, which became the dominant political party in the country.
2008: Autosomal DNA Study Reveals Genetic Ancestry
An autosomal DNA study conducted by the University of Brasília in 2008 revealed that the genetic makeup of Venezuela's population comprises 60.60% European, 23% Indigenous, and 16.30% African ancestry.
2008
Cesar Baena began representing Venezuela in Nordic Skiing in 2008.
2008: Expansion of the Venezuelan Armed Forces
In 2008, Venezuela incorporated 600,000 soldiers into a new branch of its armed forces, known as the Armed Reserve.
2008
In 2008, the adult literacy rate in Venezuela reached 95.2%.
2008: Crime a major concern for voters
Polls in 2008 indicated that crime was the number one concern for voters in Venezuela.
2008: World Refugee Survey Published
The U.S. Committee for Refugees and Immigrants released the World Refugee Survey 2008, providing insights into global refugee and asylum-seeker trends.
2008: Global Financial Crisis Impacts Venezuela
The global financial crisis of 2008 triggered a renewed economic downturn in Venezuela, contributing to shortages of essential goods and rising malnutrition despite government claims of progress in reducing hunger.
2008: End of period with high cocaine seizures
This period of high cocaine seizures in Venezuela ended in 2008.
February 2009: Presidential Term Limits Removed
As of February 15, 2009, a Venezuelan president may be re-elected an unlimited number of times.
December 2009: Shift from "Rigid Division of Powers"
In December 2009, Supreme Court president Luisa Estela Morales said that Venezuela had moved away from "a rigid division of powers" toward a system characterized by "intense coordination" between the branches of government, while clarifying that each power must remain independent.
2009
Cesar Baena made history in 2009 by becoming the first South American skier to participate in a FIS Cross Country Ski World Cup in Düsseldorf, Germany.
2010: Venezuela ranked low on government transparency
In 2010, Venezuela was ranked 164th out of 178 countries in government transparency by the Corruption Perceptions Index.
2010: Venezuela Surpasses Saudi Arabia in Oil Reserves
Venezuela's proven crude oil reserves surged by 40.4% in 2010, surpassing Saudi Arabia to become the country with the world's largest oil reserves.
November 2011: Venezuela repatriates gold reserves
Venezuela repatriated US$11 billion in gold bullion in November 2011 as a measure to protect its foreign reserves from economic instability in the US and Europe.
2011: Census Excludes "Pardo" as Ethnic Category
The 2011 Venezuelan census omitted the term "pardo," commonly used to denote mixed-race ancestry, from its ethnic identification options.
2011: National Assembly Term Begins
The National Assembly elected in 2011 served until 2016.
2011: Religion in Venezuela
Data on religious affiliation in Venezuela was collected, providing a snapshot of the country's religious landscape in 2011.
October 2012: Chávez's Last Election Win
In October 2012, Hugo Chávez won the presidential election for a third term but was never sworn in due to medical complications.
2012: Chávez's Final Election Win
Hugo Chávez won his final presidential election in 2012, but he would not be sworn in due to medical issues and his subsequent death.
2012
Rubén Limardo secured a gold medal for Venezuela in fencing at the 2012 Summer Olympics.
2012
Venezuela hosted the 2012 Basketball World Olympic Qualifying Tournament at the Poliedro de Caracas.
February 2013: Currency Devaluation
In February 2013, Venezuela devalued its currency due to rising shortages, leading to increased malnutrition and economic difficulties.
March 2013: Death of Chávez
Hugo Chávez died in March 2013, marking the end of his long tenure as president of Venezuela.
April 2013: Maduro Elected President
Nicolás Maduro won the presidential election in April 2013, following Chávez's death, with 51% of the vote against Henrique Capriles.
April 2013: First Election Without Chávez
The presidential election in April 2013 was the first since 1999 in which Hugo Chávez's name did not appear on the ballot, following his death.
2013: High homicide rate in Venezuela
In 2013, Venezuela's homicide rate was approximately 79 per 100,000, one of the world's highest, having quadrupled in the past 15 years.
2013
In 2013, the US had an infant mortality rate of 6 deaths per 1,000 births.
2013: Disputed Presidential Election and Nationwide Crisis
The 2013 Venezuelan presidential election was marred by widespread allegations of fraud and irregularities, leading to widespread protests and a deepening political crisis that continues to grip the country.
2013
The Poliedro de Caracas was chosen as the venue for the 2013 FIBA Basketball Americas Championship, hosted by Venezuela.
2013: Currency Devaluation and Shortages
Venezuela faced growing shortages of basic goods, including toilet paper, milk, and flour, prompting the government to devalue its currency in early 2013.
2013: Death of Hugo Chávez
Hugo Chávez, who had maintained the presidency since 1999, died in 2013.
2013: Government forced to use state-owned companies' reserves
By 2013, the Venezuelan government had spent down its repatriated gold reserves and had to use the dollar reserves of state-owned companies to support the national bank and reassure the international bond market.
2013
By 2013, over half of all medical graduates had left Venezuela, according to Claudio Bifano, president of the Venezuelan Academy of Physical, Mathematical, and Natural Sciences.
2013: Maduro Appointed Vice President
In 2013, Nicolás Maduro was picked by Hugo Chávez as his successor and appointed as vice president, setting the stage for his future presidency.
February 2014: Protests Against Maduro
Since February 2014, mass protests erupted in Venezuela against Nicolás Maduro's government due to high levels of violence, corruption, hyperinflation, and scarcity of basic goods.
2014: Economic Decline and Protests
Beginning in 2014, the price of oil plummeted, causing economic decline and protests in Venezuela. The country entered a recession and experienced high inflation and emigration.
2014: Protests Begin
In 2014, a series of largely peaceful protests and demonstrations began in Venezuela, attributed to inflation, violence, and shortages.
2014: Low ranking in the Rule of Law Index
The World Justice Project's 2014 Rule of Law Index ranked Venezuela 99th out of 99 countries surveyed.
2014: Study Reveals Venezuelan Emigration
A 2014 study by sociologists from the Central University of Venezuela estimated that over 1.5 million Venezuelans, roughly 4% to 6% of the population, had emigrated from the country since 1999.
2014
In 2014, Venezuela's infant mortality rate was 19 deaths per 1,000 births, lower than the South American average. That same year, child malnutrition was at 17%, with the highest rates in Delta Amacuro and Amazonas. The UN reported that 32% of Venezuelans, mostly in rural areas, lacked proper sanitation. Diseases like diphtheria, plague, malaria, typhoid fever, yellow fever, cholera, and hepatitis A, B, and D were present. Around 30% of adults in Venezuela were obese.
December 2015: Parliamentary Elections Held
Parliamentary elections were held on December 6, 2015, to elect the 164 deputies and three Indigenous representatives of the National Assembly.
December 2015: Supreme Court Judges Unconstitutionally Appointed
The day after the December 6, 2015 election, judges were fraudulently appointed to the Supreme Court, giving Maduro control of the judiciary branch.
2015: Opposition Gains Majority
In the 2015 Venezuelan parliamentary election, the opposition gained a majority, challenging Maduro's government's authority.
2015: World's Highest Inflation
In 2015, Venezuela had the world's highest inflation, surpassing 100%, exacerbating the country's economic crisis.
2015: Venezuela declared a national security threat by the US
In 2015, US president Barack Obama declared Venezuela a national security threat.
2015: Homicide rate continues to rise
By 2015, the homicide rate in Venezuela had risen to 90 per 100,000.
2015
By 2015, the Jewish population in Venezuela had dropped to less than 7,000, due to a mix of economic issues and antisemitism.
January 2016: Economic Emergency Decree
In January 2016, Nicolás Maduro decreed an 'economic emergency,' revealing the extent of Venezuela's crisis and expanding his powers.
January 2016: Economic Emergency Decree Approved
On January 16, 2016, Maduro approved an unconstitutional economic emergency decree, effectively giving him control over legislative, executive, and judiciary powers.
April 2016: Rolling Blackouts and Reduced Workweek
In April 2016, the Maduro administration implemented rolling blackouts and shortened the government workweek to two days due to a severe hydroelectricity shortage caused by drought and inadequate maintenance.
May 2016: OAS Considers Sanctions
On May 14, 2016, the Organization of American States considered applying sanctions to Venezuela for not complying with its own constitution, under the Inter-American Democratic Charter.
May 2016: State of Emergency Declared
On May 14, 2016, constitutional guarantees were effectively suspended when Maduro decreed a state of emergency and extended the economic emergency decree for another 60 days in violation of the Venezuelan Constitution.
July 2016: Temporary Border Opening
In July 2016, Venezuelan-Colombian border crossings were temporarily opened to allow Venezuelans to purchase food and health items.
September 2016: Food Waste Study
A study in September 2016 indicated that 15% of Venezuelans were eating food waste discarded by commercial establishments, highlighting the severe food shortages.
October 2016: Prison Riots
By October 2016, Venezuela had experienced 200 prison riots, reflecting the broader social and economic instability in the country.
2016: Venezuela's corruption ranking worsens
Venezuela's ranking on the Corruption Perceptions Index worsened to 166th out of 178 countries in 2016.
2016: End of National Assembly Term
The term of the National Assembly elected in 2011 ended in 2016.
2016: Venezuela's economy heavily reliant on petroleum
In 2016, Venezuela's market-based mixed economy was dominated by the petroleum sector, which accounted for about a third of GDP, 80% of exports, and over half of government revenue.
2016: Hyperinflation and Economic Depression
Venezuela's economy spiraled into a severe depression in 2016, marked by a staggering 800% surge in consumer prices and an 18.6% decline in economic output.
March 2017: Gasoline Shortages Emerge
By March 2017, Venezuela began experiencing gasoline shortages in certain regions, further exacerbating the country's economic woes.
March 2017: Supreme Court Briefly Assumes Legislative Power
In March 2017, the Venezuelan Supreme Court briefly took over law-making powers from the National Assembly but reversed its decision the following day.
April 2017: Venezuela announces intention to withdraw from the OAS
Venezuela announced its intention to withdraw from the Organization of American States (OAS) in April 2017, with the process expected to take two years.
August 2017: Constituent National Assembly Elected
In August 2017, the Constituent National Assembly was elected, stripping the National Assembly of its powers and raising concerns of an emerging dictatorship.
December 2017: Opposition Parties Barred
In December 2017, Nicolás Maduro declared that opposition parties would be barred from the 2018 presidential election after they boycotted mayoral polls.
2017: Negative Economic Outlook
Venezuela's economic prospects were assessed as negative by major bond-rating agencies in 2017, reflecting the country's deepening economic crisis.
2017: Venezuela classified as an authoritarian regime
The Democracy Index downgraded Venezuela to an authoritarian regime in 2017, citing increasingly dictatorial behavior by the Maduro government.
2017: U.S. Sanctions
In 2017, the Trump administration imposed economic sanctions on PDVSA and Venezuelan officials, further straining the Venezuelan economy.
2017: Government arms diverted to criminal groups
In 2017, the Financial Times reported that some arms procured by the Venezuelan government had been diverted to paramilitary and criminal groups.
2017: Venezuela Defaults on Debt Payments
In 2017, Venezuela was declared in default on its debt payments by major credit rating agencies. This marked a significant escalation of the country's economic crisis and underscored the severity of its financial situation.
2018: Disputed Presidential Election
In 2018, Maduro won the presidential election with 68% of the vote, but the result was challenged by several countries, including Argentina, Chile, Colombia, Brazil, Canada, Germany, France, and the US, who deemed it fraudulent and recognized Juan Guaidó as president.
2018: Projected Hyperinflation
Experts projected an astronomical inflation rate of 1,000,000% for Venezuela in 2018, drawing comparisons to hyperinflationary episodes in Germany in 1923 and Zimbabwe in the late 2000s.
2018
By 2018, over half of all Venezuelan children had dropped out of school, with a 58% dropout rate nationwide and over 80% in areas bordering other countries. About 93% of schools didn't meet basic operational standards, and 77% lacked essential utilities like food, water, or electricity.
2018: Enforced Disappearances
Between 2018 and 2019, there were 724 reported enforced disappearances of political detainees in Venezuela.
August 2019: US Imposes Economic Embargo
In August 2019, the Trump administration imposed an economic embargo against Venezuela.
2019: Forest Landscape Integrity Index
Venezuela scored 8.78 out of 10 on the 2019 Forest Landscape Integrity Index, ranking 19th globally out of 172 countries.
March 2020: Maduro and Venezuelan Officials Indicted
In March 2020, the Trump administration indicted Nicolas Maduro and other Venezuelan officials on charges of drug trafficking, narcoterrorism, and corruption.
June 2020: Report on Enforced Disappearances
In June 2020, a report documented 724 enforced disappearances of political detainees that occurred between 2018 and 2019. The report stated that security forces subjected victims to torture and that the government used enforced disappearances to silence opponents and other critical voices.
2021: Hydroelectricity Dominates Electricity Generation
Hydroelectricity remained the primary source of electricity generation in Venezuela, accounting for 64% of the country's electricity production in 2021.
2021: World Population Prospects Update
The 2022 revision of the World Population Prospects estimated Venezuela's total population to be 28,199,867 in 2021.
2022: World Population Prospects Revision
The World Population Prospects data for Venezuela was revised in 2022, providing updated demographic information.