Source
Central bank

Central Bank of Venezuela

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 per capita - current prices

USD 3,373.7 (2018, estimate)

GDP per capita - PPP

Intl$ 12,184.6 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.92% 0.70% 0.58% 0.54% 0.17%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 4.7% 
  • industry: 40.4% 
  • services: 54.9%

(2017 estimate)

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

N/A

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

Household saving rates

N/A

 

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

Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD 6.3 billion (2018 estimate)

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)

Total exports

USD 28.4 billion (2016)

Export commodities

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

Total imports

USD 25.8 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 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

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
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 2015* 2020*
19.41 million 24.39 million 28.52 million 30.62 million 25.92 million

*Estimate  

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
61.6% 79.2% 87.6% 88.2%
Population median age

28.7 years

Population growth rate

1.21% (2018 estimate)

Life expectancy

76.2 years (2018 estimate)

Literacy

Total population: 97.1% 
Male: 97% 
Female: 97.2%
Definition: age 15 and over can read and write (2016 est.)

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

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)

Internet users as % of total population

72 % (2017)

Mercer Cost of living index

N/A

CO2 emissions

6.16 metric tons per capita (2014)

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