Venezuela was once a wealthy country, today it is the poorest country in South America

Omissions

• The claim does not specify the metric used (GDP per capita is the standard measure for economic wealth comparisons).
• The historical peak wealth was primarily during the 1950s-1970s oil boom period.
• Source publication date (2026) is after session date but reflects data from periods before 2026-04-29.

Sources

• SecondaryWorld Population ReviewVenezuela ranks as the poorest country in South America with a GDP per capita of $3,805 in 2026.
• SecondaryStatistics TimesVenezuela is identified as the poorest economy in South America.
• SecondaryBusiness InsiderVenezuela was once one of the world's richest nations before its decades-long economic collapse.
• SecondaryThe 420 (News outlet)In the 1950s and 1970s, Venezuela's per capita income exceeded that of several European nations.