It was the wealthiest nation in Latin America in the early 1980s, with a GDP per capita considerably higher than Argentina and several times that of Mexico, Brazil, Chile and Colombia.

Oil output peaked the few years prior to Chavez taking over and then began a persistent decline. Oil exports boomed from 1987 to 2000, going from 1.5m to 3m barrels per day. Under Chavez that collapsed by nearly 50%. Maduro of course has just continued the trend line.