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Venezuela GDP and Economic Data
Country Report 2017 - Includes Venezuela real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Venezuela economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Venezuela best banks and safest banks are also available.
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International Reserves
USD 9.79 billion (2017)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 98.5 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 371.5 billion (2017, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 8.8% | 5.3% | -3.2% | -1.5% | 4.2% | 5.6% | 1.3% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| -3.9% | -6.2% | -17% | -15.7% | -18% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.92% | 0.70% | 0.58% | 0.54% | 0.17% |
*Estimate
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GDP - composition by sector
- agriculture: 4.7%
- industry: 40.4%
- services: 54.9%
(2017 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 121.7% | 254.9% | 438.1% | 65374.1 %* | 200000%* |
*Estimate
Unemployment rate
| 2015* | 2016* | 2017* | 2018* | 2019* |
| 7.4% | 20.9% | 27.9% | 35% | N/A |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 11.1% | 5.1% | 23.1% | 182.4% | N/A |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019 |
| -10.7% | -10.8% | -16.6% | -30.6% | N/A |
*Estimate
Government bond ratings
Standard & Poor's: SD
Moody's: WR
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
6.4 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
16.7% (2014)
Shares in world total merchandising export
0.17% (2018)
Shares in world total commercial services export
0.03% (2016)
Export commodities
Petroleum and petroleum products, bauxite and aluminum, minerals, chemicals, agricultural products
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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 34.8%, India 17.2%, China 16%, Netherlands Antilles 8.2%, Singapore 6.3%, Cuba 4.2%(2017)
Imports - major partners
US 24.8%, China 14.2%, Mexico 9.5% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 1,068 million | USD -68 million | USD 956 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 1,041 million | USD 2,234 million | USD 1,655 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 3.3 million | USD 21.3 million | USD -167.3 million | USD 17 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:
188 out of 190 countries
Subcategories:
Starting a Business: 190 out of 190 countries
Dealing with Construction Permits: 175 out of 190 countries
Getting Electricity: 174 out of 190 countries
Registering Property: 145 out of 190 countries
Getting Credit: 132 out of 190 countries
Protecting Minority Investors: 170 out of 190 countries
Paying Taxes: 189 out of 190 countries
Trading across Borders: 188 out of 190 countries
Enforcing Contracts: 150 out of 190 countries
Resolving Insolvency: 165 out of 190 countries
Source
Global competitiveness ranking
133 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 179 / Score: 25.9 (Repressed)
(100=totally free 0=totally repressed)
Source
Source
Religions
Nominally Roman Catholic 96%, Protestant 2%, other 2%
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 19.41 million | 24.39 million | 28.52 million | 30.62 million | 25.92 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 61.6% | 79.2% | 87.6% | 88.2% |
Literacy
Total population: 97.1%
Male: 97%
Female: 97.2%
Definition: age 15 and over can read and write (2016 est.)
Freedom House rating
Not Free
Political Rights: 7
Civil Liberties: 6 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 19.2%
Mobile: 71.8%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)