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Venezuela

Headline economic indicators for Venezuela, with the most recent official readings.

Prices

Prices — Venezuela
Indicator Value Change
Inflation rate · 254.9% +133.21 (+109.4%)
Consumer price index · 2,740.3 +1,968 (+254.9%)
GDP deflator inflation · 227.1% +171.64 (+309.6%)

GDP

GDP — Venezuela
Indicator Value Change
GDP growth rate · 1.6% -3.95 (-71.6%)
GDP per capita · 3,494.81 -749.64 (-17.7%)
GDP per capita, long-run history · 5,267 +370.37 (+7.6%)
GDP · 99,661,244,155.63 -20,904,868,241 (-17.3%)
GDP, PPP · 621,138,359,437 +36,647,637,470 (+6.3%)
GDP per capita, PPP · 21,283 +997.05 (+4.9%)
GDP per capita growth · 1.2% -3.96 (-77.1%)
GNI per capita · 3,860 +20.00 (+0.5%)
Agriculture to GDP · 0.0% +0.00
Industry to GDP · 0.0% +0.00
Manufacturing to GDP · 0.0% +0.00
Services to GDP · 0.0% +0.00
Household consumption to GDP · 0.0% +0.00
Gross capital formation to GDP · 5.9% +1.06 (+21.8%)
Gross savings to GDP · 12.8% -2.79 (-17.9%)

Labour

Labour — Venezuela
Indicator Value Change
Unemployment rate · 5.3% -0.01 (-0.3%)
Labour force participation rate · 51.9% -0.12 (-0.2%)
Female labour force participation rate · 37.1% -0.23 (-0.6%)
Youth unemployment rate · 10.4% +0.29 (+2.8%)
Employment to population ratio · 49.2% -0.11 (-0.2%)
Employment in agriculture · 8.9% -0.03 (-0.3%)
Employment in industry · 16.8% -0.46 (-2.7%)
Employment in services · 74.4% +0.49 (+0.7%)

Money

Money — Venezuela
Indicator Value Change
Real interest rate · -89.5% -19.03 (-27.0%)
Broad money to GDP · 48.6% +5.46 (+12.7%)
Private sector credit to GDP · 27.5% +3.60 (+15.1%)
Lending rate · 21.1% +0.28 (+1.4%)
Bank deposit rate · 14.7% -0.35 (-2.3%)
Stock market capitalization to GDP · 4.3% -0.77 (-15.3%)
Official exchange rate · 9.98 +0.72 (+7.8%)

Trade

Trade — Venezuela
Indicator Value Change
Current account to GDP · 0.6% -1.38 (-70.8%)
Exports to GDP · 14.9% -1.83 (-10.9%)
Imports to GDP · 10.1% +0.61 (+6.4%)
Trade to GDP · 25.0% -1.23 (-4.7%)
Exports of goods and services · 14,852,682,003.45 -5,324,097,555 (-26.4%)
Imports of goods and services · 10,074,121,350.14 -1,382,498,489 (-12.1%)
Trade balance, goods and services (annual) · 2,539,000,000 -449,000,000 (-15.0%)
Current account balance (annual) · 569,000,000 -1,785,000,000 (-75.8%)
Foreign direct investment to GDP · -0.5% +1.59 (+75.2%)
Remittances received to GDP · 4.3% +1.16 (+36.8%)
Total reserves, including gold · 9,794,062,064.62 -355,938,419 (-3.5%)
Reserves in months of imports · 3.7 +0.28 (+8.4%)

Government

Government — Venezuela
Indicator Value Change
Government consumption to GDP · 0.0% +0.00
Education spending to GDP · 6.9% +3.25 (+89.5%)
Health spending to GDP · 3.8% -0.77 (-17.0%)

Demography

Demography — Venezuela
Indicator Value Change
Population · 28,516,896 +111,353 (+0.4%)
Population, long-run history · 28,418 +102.25 (+0.4%)
Population growth · 0.4% +0.02 (+6.0%)
Life expectancy · 72.7 +0.16 (+0.2%)
Fertility rate · 2.08 -0.00 (-0.1%)
Birth rate · 15.2 +0.14 (+1.0%)
Death rate · 7.7 +0.12 (+1.6%)
Urban population share · 89.3% +0.04 (+0.0%)
Population aged 65 and over · 10.0% +0.34 (+3.5%)
Under-five mortality rate · 24.2 +0.00 (+0.0%)
Population density · 32.2 +0.12 (+0.4%)
Net migration · -100,467 +4,830 (+4.6%)
Gini index · 44.7 -4.60 (-9.3%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

Venezuela

Economies nearby

Comparable readings from neighbouring economies.