Source
Central bank

Central Bank of Venezuela

International Reserves

US$ 20.275 billion (Source: World Bank; Data updated: 2013)

Gross Domestic Product - GDP

US$ 342 billion (2014 estimate)

GDP (Purchasing Power Parity)

412 billion of International dollars (2014 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
-7.8% 18.3% 10.3% 9.9% 8.8% 5.3% -3.2% -1.5%
2011 2012 2013 2014*        
4.2% 5.6% 1.0% -0.5%        

*Estimate

GDP per capita - current prices

US$ 11,231 (2014 estimate)

GDP per capita - PPP

$13,531 International Dollars (2014 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2014*
0.76% 0.58% 0.48% 0.46% 0.45%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 3.7% 
  • industry: 35.5% 
  • services: 60.8% (2013 estimate)
Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2011 2012 2013 2014*
26.1% 21.1% 40.7% 50.7%

*Estimate

Unemployment rate
2011 2012 2013 2014*
8.2% 7.8% 9.2% 11.2%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014*
36.3% 43.3% 46.0% 49.8% 51.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2014*
-10.4% -11.6% -16.6% -15.1% -13.7%

*Estimate   

Government bond ratings

Standard & Poor's: CCC+

Moody's rating: Caa1

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2010* 2011 2012**
US$3.991 billion US$5.143 billion US$25.3 billion

*2010 Estimate      **2012 Estimate 

Largest companies in Venezuela

Mercantil Servicios, Banco Occidental

 
 
Source
Current account balance

US$ 8.158 billion (2014 estimate)

Current account balance by percentage of GDP

2.385% of GDP (2014 estimate)

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

26.2% (2012)

(Data released on October 2014)

Shares in world total merchandising export

0.53% (2012)

(Data were released in March 2014)

Shares in world total commercial services export

0.04% (2012)

(Data were released in March 2014)

Total exports

US$91.780 billion (2013 estimate)

Export commodities

petroleum, bauxite and aluminum, minerals, chemicals, agricultural products, basic manufactures

Total imports

US$59.320 billion (2013 estimate) 

 
 
Source
Import commodities

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

Exports - major partners

US 39.1%, China 14.3%, India 12%, Netherlands Antilles 7.8%, Cuba 4.6% (2012)

Imports - major partners

US 31.7%, China 16.8%, Brazil 9.1%, Colombia 4.8% (2012)

FDI inflows
2011 2012 2013
US$3,778 million US$3,216 million US$7,040 million
FDI outflows
2011 2012 2013  
US$-1,141 million US$2,460 million US$2,152 million  
Value of cross-border M&A;, by country of purchaser
2010 2001 2012 2013
US$0 million US$-1,268 million US$-16 million US$35 million
Cross-border M&A; deals worth over $3 billion completed in 2010(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

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

Cross-border M&A; deals worth over $3 billion completed in 2011(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

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

Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business, from 1 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 181 out of 189 countries (2013)

Subcategories:

Starting a business: 157 out of 189 countries

Enforcing Contracts: 92 out of 189 countries

Registering Property: 95 out of 189 countries

Getting credit: 130 out of 189 countries

Protecting investors: 182 out of 189 countries

Trading across border: 173 out of 189 countries

Paying Taxes: 187 out of 189 countries

Dealing with Construction Permits: 110 out of 189 countries

Getting Electricity: 167 out of 189 countries

Resolving Insolvency: 165 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

131

(2014-2015)

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 175 Score: 36.3 (Repressed) 

(100=totally free 0=totally repressed )

 
 
Source
Total area

912,050 sq km

Government type

federal republic

Languages

Spanish (official), numerous indigenous dialects

Religions

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

Total population
1990 2000 2010 2014* 2019**
19.411 million 24.06 million 28.631 million 30.457 million 32.915 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
61.6% 79% 88% 89%
Population median age

26.9 years (2014 est.)

Population growth rate

1.42% (2014 est.)

Life expectancy

74.39 years (2014 estimate)

Adult literacy

95.5% (2009 estimate)

% of population living on less than $2 a day

10.61% (2011)

Inequality of wealth distribution (Gini index)

44.77 (2006)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:5
Civil Liberties:5 (2011)

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

Source
Total telephone subscribers as % of population

122.69% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

40.22% (Data were released in 2012 and refer to 2011)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Caracas: 51st (2011)

Source
CO2 emissions(Metric tons of CO2 per capita)

6.4795 (Data were released in 2012 and refer to 2009)

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