5 Richest Countries in Central and South America

4. Venezuela

Total Wealth in 2021: $531 billion

Venezuela, officially known as the Bolivarian Republic of Venezuela, is a country located on the northern coast of South America, consisting of a continental landmass and many islands in the Caribbean Sea. It has the world’s largest known oil reserves and was once a leading exporter of oil, which replaced agriculture as the dominant export and revenue source. However, due to the excesses and poor policies of the government, Venezuela’s economy collapsed, and by 2017, the country was declared in default regarding debt payments by credit rating agencies. As per Credit Suisse’s report, Venezuela’s total wealth in 2021 was $531 billion.