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Venezuela Made over $8 Billion on Drug Trafficking in 2024

Drug trafficking generated more than $8.2 billion in Venezuela in 2024, according to a report published by the non-government organization Transparencia Venezuela on Wednesday.

The report – titled “Drug Trafficking in Venezuela 2024: An Expanding Business that Brings Profits to the Power Elite” – claimed to demonstrate how Venezuela has turned into a “key hub” for global drug trafficking while highlightning the economic impact of said criminal activity in the country.

The report asserted that “hundreds of kilograms, even tons of drugs” continue to transit daily through Venezuela, stressing that “this cannot be concealed” by the policies of socialist dictator Nicolás Maduro, the harassment of researchers, or disinformation campaigns promoted by state and “private” media outlets collaborating with the regime.

Transparencia Venezuela, an NGO now operating in exile, explained in a press release that the amount of $8.2 billion in income allegedly generated by drug trafficking in Venezuela was calculated by economists using the average wholesale price of cocaine hydrochloride in regions where Venezuela serves as a supplier, using statistical information published by the United Nations Office on Drugs and Crime (UNODC). The Maduro regime, naturally, does not produce any official information on drug production.

The organization further explained that the volume of drugs estimated was based on cocaine production figures in neighboring Colombia during