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Message: Venezuela is numero uno in Misery Index

1. Venezuela

Misery index score: 59.80%
CPI inflation: 52.7%
Unemployment: 7.1%

The Venezuelan economy primarily depends on oil revenues, which adds up to 96 per cent of export earnings and approximately 12 per cent of the GDP. In 2013, Hugo Chavez attempted to increase government control of the economy by nationalizing firms in the agribusiness, finance, construction, oil, and steel industries. This move subsequently 'hurt the private investment environment, reduced productive capacity, and slowed non-petroleum exports.'

In February 2014, anti-government protests erupted in Venezuela after a female student alleged that someone attempted to rape her. Protesters are seeking increased security and an end to the high inflation crippling the economy. At least 6,369 protests (or 35 per day) have occurred in the first six months of 2014.

According to a UN study on homicide, the country has the second-highest murder rate in the world.

Source: CIA Factbook, BBC, UN

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