*Data source: ACAPS.org. Figures as of Dec. 2019
Venezuela is suffering a deep economic, social, and political crisis without precedent in Latin America. The country's economy shrank by half between 2013 and 2018, which has halted domestic production and eliminated jobs throughout. Hyperinflation reached approximately 1,000,000% in 2018 and led to severe shortages of food, medicine, and other basic supplies.
The resultant humanitarian crisis has led to a massive exodus of Venezuelans to neighboring countries, generating challenges to local governments and communities in many Latin American countries. The subsequent refugee crisis has put tremendous pressure on governments and communities around Latin America, generating a need for civil society and the international community to support this process.
But most importantly, it has forced millions of Venezuelans to flee their homes in search of a better future. (Source: Walking for Freedom)
- 300,000Returning Colombians
- 724,036Transitioning Refugees
- 1,624,915Pendulum Refugees (45K daily)
- 468,428Colombia Final Stop (w/regular migratory status)
- 361,399Colombia Final Stop (w/irregular migratory status)
- 105,766Crossed illegally/expired visa
*Data source: ACAPS.org
*Data Source: UNHCR Coordination Platform for Refugees and Migrants from Venezuela. Figures as of Dec. 2020
17.5% of Venezuela's population have fled
*Data source: UNHCR.org
Fresh milk is nearly impossible to find or store in Venezuela right now, so many are turning to powdered milk instead. A kilogram goes for 7,000 bolivares ($703.54 USD), or nearly half of a minimum wage monthly paycheck, on the black market. Two pounds of powdered milk, which is just under one kilogram, goes for $7.24. This means for the price of one box of powdered milk in Venezuela, people in the U.S. can purchase 97.2 boxes.
Arepas, or stuffed, thick-tortilla like sandwiches, are a staple in Venezuela. They are made from maize flour, which can cost about 3,000 bolivares ($301.50 USD) for just one kilogram of the flour, CNN noted. The same-sized bag goes for about $9.27 on Amazon in the U.S. This means that for the price of one bag of flour in Venezuela, people in the U.S. can buy 32.5 bags of flour.
Pasta is an affordable staple in the U.S where two pounds (which is approximately one kilogram) is just $2.50. In Venezuela, a kilogram of pasta currently sells for 3,000 bolivares ($301.50 USD) on the black market, CNN reported. This means for the price of one box of pasta in Venezuela, people in the U.S. can buy 120.6 boxes.
When people talk about affordable sources of protein, eggs are often first on the list. Unfortunately in Venezuela, a dozen eggs can cost 1,500 bolivares ($150.76 USD) on the black market, the Los Angeles Times noted. In the U.S., the average price of 12 eggs is just $1.49. This means that for the price of one dozen eggs in Venezuela, people in the U.S. can buy 101 dozen eggs.
While fresh produce is hard to find in Venezuela right now, when it is available it is expensive. Watermelon from a government-subsidized store can go for 400 bolivares ($40 USD). It likely costs much more than that on the black market. In the U.S., watermelons cost just $4.99 at a number of Sam's Clubs locations. This means for the price of one watermelon in Venezuela, you can purchase 8 watermelons in the U.S.
Every once in a while, a fancy coffee shop will sling a $16 cup of coffee, but for the most part, coffee tends to be affordable — unless you live in Venezuela. According to Forbes, a 1/2 kilogram bag of ground coffee goes for 2,000 bolivares ($201 USD) on the black market.