Source
Central bank

Central Bank of Venezuela

International Reserves

USD 6.7 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 314.1 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 457.1 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
9.9% 8.8% 5.3% -3.2% -1.5% 4.2% 5.6%
2013 2014* 2015* 2016* 2017*    
1.3% 2.3% -6.2% -10% -4.5%    

*Estimate

GDP per capita - current prices

USD 9,993.3 (2017, estimate)

GDP per capita - PPP

Intl$ 14,544.0 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.92% 0.70% 0.58% 0.54% 0.4%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 4% 
  • industry: 36.1% 
  • services: 59.9%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2013 2014 2015 2016* 2017*
40.6% 62.2% 121.7% 475.8% 1660.1%

*Estimate

Unemployment rate
2013* 2014* 2015* 2016* 2017*
7.5% 6.7% 7.4% 18.1% 21.4%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2013* 2014* 2015* 2016* 2017*
73.7% 63.5% 41.5% 32.8% 28.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013* 2014* 2015* 2016* 2017*
-14.3% -16.8% -23.1% -25.7% -26.1%

*Estimate   

Government bond ratings

Standard & Poor's: CCC

Moody's: Caa3

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Largest companies

Mercantil Servicios, Banco De Venezuela, Banco Occidental, Banco del Caribe, C.A. Banco Universal.

 
 
Source
Current account balance

USD -2.7 billion (2017 estimate)

Current account balance by percentage of GDP

-0.9% (2017 estimate)

Exports as percent of GDP (Exports of goods and services)

16.7% (2014)

Shares in world total merchandising export

0.2% (2015)

Shares in world total commercial services export

0.03% (2015)

Total exports

USD 28.1 billion (2016 estimate)

Export commodities

Petroleum and petroleum products, bauxite and aluminum, minerals, chemicals, agricultural products

Total imports

USD 27.1 billion (2016 estimate)

 
 
Source
Import commodities

Agricultural products, livestock, raw materials, machinery and equipment, transport equipment, construction materials, medical equipment, petroleum products, pharmaceuticals, chemicals, iron and steel products

Exports - major partners

US 26.6%, India 13.7%, China 11.7%, Cuba 6.4% (2015)

Imports - major partners

US 18.4%, China 15.3%, Brazil 9.7%, Colombia 5.9%, Mexico 4.2% (2015)

FDI inflows
2013 2014 2015
USD 2,680 million USD 320 million USD 1,591 million
FDI outflows
2013 2014 2015
USD 752 million USD 1,024 million USD -1,119 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD -16.2 million USD 58.0 million USD 1371.9 million USD 3.3 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 187 out of 190 countries (2017)

Subcategories:

Starting a business: 189 out of 190 countries

Enforcing Contracts: 137 out of 190 countries

Registering Property: 129 out of 190 countries

Getting Credit: 118 out of 190 countries

Protecting Minority Investors: 175 out of 190 countries

Trading Across Borders: 187 out of 190 countries

Paying Taxes: 185 out of 190 countries

Dealing with Construction Permits: 137 out of 190 countries

Getting Electricity: 186 out of 190 countries

Resolving Insolvency: 165 out of 190 countries

Global competitiveness ranking

130 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 176 / Score: 33.74 (Repressed) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC-4 

Total area

912,050 sq km

Capital

Caracas

Currency

Bolivars (VEB)

Government type

Federal presidential republic

Languages

 Spanish (official), numerous indigenous dialects

Religions

Nominally Roman Catholic 96%, Protestant 2%, other 2%

Total population
1990 2000 2010 2016* 2021*
19.411 million 24.394 million 28.524 million 31.029 million 32.986 million

*Estimate  

 
 
Source
Urban population as % of total population
1960 1980 2000 2015
62% 79% 88% 89%
Population median age

28 years (2016 estimate)

Population growth rate

1.28% (2016 estimate)

Life expectancy

75.8 years (2016 estimate)

Literacy

Total population: 96.3%
Male: 96.4%
Female: 96.2% (2015 est.)

(age 15 and over can read and write)

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Political Rights: 6
Civil Liberties: 5 (2017)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed 24.86%   Mobile 92.97% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

61.87% (2015)

Mercer Cost of living index

N/A

CO2 emissions

6.1 (2013)

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