As a result of the implemented populist policies, a major economic crisis rocked Venezuela and resulted in hyperinflation, food and water shortages, increased unemployment, and increased violence rates. Consequently, Venezuela scored extremely high on the misery index for the most miserable countries in the world. In 2017, Caracas was one of the most dangerous cities in the world - only surpassed by Los Cabos, Mexico. Additionally, Venezuela ranked third among the 20 countries with most murders per 100.000 inhabitants.
Venezuela's plight does not top there - the Bolivian Republic of Venezuela is among the most corrupt countries in the world, a view shared by the vast majority in the country: 75 percent of the respondents of a survey conducted from 2010 to 2013 on corruption in the country said they believe that corruption is widespread throughout the government. Thus, a series of anti-government peaceful protests began, but over time, they became violent, resulting in numerous deaths.
As a consequence of the political instability of the state, the economy suffers as well, as mentioned above: Gross domestic product has been fluctuating and is now on a downwards trend. The economic recession led to an incredible inflation rate of more than 650 percent in 2017. The oil and gas industries are the most profitable industries of the country, Venezuela has the largest crude oil reserves worldwide, and produced more than 134 million metric tons of oil in 2016. The most important export and import partner of Venezuela is the United States, and probably due to its oil exports, the country has been able to maintain a trade surplus.