Why Is Venezuela Rich

It’s hard to really say a country is rich regardless her citizen’s well-being. For a nation to be rich, the presence of raw materials and natural resources must be present in the nation. Countries like United States of America, Great Britain, Saudi Arabia and the likes. But Venezuela isn’t left out of the circle due to it’s undying and unlimited resources present in the nation. Venezuela is a country blessed with all the natural resources any country on the surface of the earth would like to have.

Generally, all nations with the availability of oil is often regarded to as being rich and famous. This article would briefly explain why this country is considered one of the richest countries.

Top selling natural resources that make any country rich

  • In the modern age, petroleum aka (crude oil) is one of the best-selling resources around the world. The fund discovered from the resources makes growth fast and an economy boom in no time. Discovery of oil in any nation is like discovering an unending jackpot. There is total of 195 countries in the world and about a total of 117 have discovered oil and producing plus trading with the rest countries with fewer resources. This makes the fund derived from petroleum unbeatable compared to other resources.
  • Crude oil is easy to extract, store and trade. It is located closer to the surface unlike the extraction of coal. Oil is a loved resource that is, it is involved in every of our daily lives.
  • Oil is used as a means of transportation, to power electricity, and lots more which makes it one of the most wanted commodities among resources. Trading crude oil at international level fetches a lot of income and stabilizes the economy plus it helps in creating an infrastructure within a nation. So any nation blessed with this resource is automatically considered as being rich.
  • Diamond, on the other hand, is one of a kind resource with the need of more workers in the mining industry to create an efficient production. This little line stated above could tell you the impact of diamond in a nation and how it could affect the economy with simply producing more job opportunities for people within and around the nation.
  • Given good governance, diamond can bring about a drastic turn around in the economy life of a country and production of vital infrastructure development such as hospitals, schools, and all other social services.
  • Gold is a worldwide most wanted resources, which makes it the perfect resources to build up a country’s economy. The gold can be fashioned into jewelry and design.  Gold being used as a design for a ride or makes it more fashionable and more attractive.  The manner of extraction and production of gold is not an easy task it has to do with a lot of hands and hard work which in this case is a good thing for any country that,  it would produce enough jobs opportunity for the citizens of a country and when sold it fetches more income as it is expensive.

Back to the question; why is Venezuela rich,  with all these above-listed resources present in a state is one hell of a jackpot. Venezuela own this top selling natural resources around the world.