Gross domestic product (GDP) of Venezuela fell to 43.79 billion U.S. dollars in 2020, down from a 2012 peak of 372.59 U.S. dollars. Venezuela’s economic capacity Venezuela is famously the country with the largest oil reserves. However, mismanagement of the economy has led to several economic problems. Most notably, inflation has gotten out of control and has turned into hyperinflation. This represents a complete breakdown in people’s faith in the currency and, to a similar extent, the entire financial system. The Maduro Diet President Nicolás Maduro has largely been blamed for the economic situation in Venezuela. Many people have lost weight due to food shortages, which critics refer to as the “Maduro Diet”. In early 2019, opposition leader Juan Guaido declared the Maduro administration illegitimate, plunging the country into a constitutional crisis that divided the diplomatic world. Regardless of the outcome, Venezuela will still have to deal with high inflation, growing national debt, and challenges in infrastructure.

The growth of the real gross domestic product (GDP) in Venezuela was estimated at about 5.30 percent in 2024. From 1980 to 2024, the growth rose by around 10.25 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2026, the growth will decrease by approximately 10.80 percentage points.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

The Gross Domestic Product (GDP) in Venezuela expanded 8.54 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Venezuela GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Venezuela was worth 111.81 billion US dollars in 2021, according to official data from the World Bank. The GDP value of Venezuela represents 0.11 percent of the world economy. This dataset provides - Venezuela GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross Domestic Product Per Capita for Bolivarian Republic of Venezuela (PCAGDPVEA646NWDB) from 1960 to 2014 about Venezuela, per capita, and GDP.

Venezuela VE: GDP: % of GDP: Gross Value Added: Industry data was reported at 37.245 % in 2014. This records a decrease from the previous number of 44.726 % for 2013. Venezuela VE: GDP: % of GDP: Gross Value Added: Industry data is updated yearly, averaging 45.160 % from Dec 1968 (Median) to 2014, with 47 observations. The data reached an all-time high of 59.676 % in 1990 and a record low of 36.405 % in 1983. Venezuela VE: GDP: % of GDP: Gross Value Added: Industry data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank: Gross Domestic Product: Share of GDP. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Venezuela VE: Gross Domestic Product (GDP) data was reported at 23,751,849.491 VEF mn in 2016. This records an increase from the previous number of 6,025,329.791 VEF mn for 2015. Venezuela VE: Gross Domestic Product (GDP) data is updated yearly, averaging 291.270 VEF mn from Dec 1950 (Median) to 2016, with 67 observations. The data reached an all-time high of 23,751,849.491 VEF mn in 2016 and a record low of 11.826 VEF mn in 1950. Venezuela VE: Gross Domestic Product (GDP) data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Venezuela – Table VE.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

In 2024, the ratio of government revenue to gross domestic product (GDP) in Venezuela was estimated at approximately 14.06 percent. Between 1988 and 2024, the figure dropped by around 9.91 percentage points, though the decline followed an uneven course rather than a steady trajectory.The indicator shows the general government revenue as a share of the national gross domestic product. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue. As this revenue increases, a government's net worth increases. The gross domestic product represents the total value of final goods and services produced during a year.

Venezuela: Gross Domestic Product, billions of U.S. dollars: The latest value from 2014 is 482.36 billion U.S. dollars, an increase from 371.01 billion U.S. dollars in 2013. In comparison, the world average is 412.12 billion U.S. dollars, based on data from 193 countries. Historically, the average for Venezuela from 1960 to 2014 is 96.93 billion U.S. dollars. The minimum value, 7.66 billion U.S. dollars, was reached in 1960 while the maximum of 482.36 billion U.S. dollars was recorded in 2014.

In 2024, the gross domestic product (GDP) per capita (in PPP dollars) in Venezuela was estimated at 7,530 international dollars. From 1980 to 2024, the figure dropped by 14,710 international dollars, though the decline followed an uneven course rather than a steady trajectory. Between 2024 and 2026, the GDP per capita will decrease by 780 international dollars.

VE: GDP: Market Price: Linked Series data was reported at 3,031,242.431 VEF mn in 2014. This records an increase from the previous number of 1,887,009.605 VEF mn for 2013. VE: GDP: Market Price: Linked Series data is updated yearly, averaging 82,671.955 VEF mn from Dec 1989 (Median) to 2014, with 26 observations. The data reached an all-time high of 3,031,242.431 VEF mn in 2014 and a record low of 1,228.035 VEF mn in 1989. VE: GDP: Market Price: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank: Gross Domestic Product: Nominal. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. Data are in current local currency.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

The ratio of national debt to gross domestic product (GDP) of Venezuela was estimated at approximately 164.27 percent in 2024. Between 1998 and 2024, the ratio rose by around 133.61 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

This statistic shows the share of economic sectors in the gross domestic product (GDP) in Venezuela from 2004 to 2014. In 2014, the share of agriculture in Venezuela's gross domestic product was 5.03 percent, industry contributed approximately 37.24 percent and the services sector contributed about 51.67 percent.

In 2024, the current account balance as a share of the gross domestic product (GDP) of Venezuela was estimated at approximately 2.41 percent. From 1980 to 2024, the figure dropped by around five percentage points, though the decline followed an uneven course rather than a steady trajectory. Between 2024 and 2026, the share will decrease by about 2.89 percentage points.This indicator expresses the current account balance as a share of the gross domestic product. With regards to the current account balance, the International Monetary Fund states that the current account refers to all transactions other than those in financial and capital items. The gross domestic product, on the other hand, refers to the total value of final goods and services produced during a year.

Venezuela VE: GDP: Growth: Gross Value Added: Industry: Manufacturing data was reported at -7.225 % in 2014. This records a decrease from the previous number of -0.297 % for 2013. Venezuela VE: GDP: Growth: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 3.754 % from Dec 1961 (Median) to 2014, with 54 observations. The data reached an all-time high of 42.502 % in 1997 and a record low of -14.624 % in 1989. Venezuela VE: GDP: Growth: Gross Value Added: Industry: Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Venezuela: Gross Domestic Product, billions of 2015 U.S. dollars: The latest value from is billion U.S. dollars, unavailable from billion U.S. dollars in . In comparison, the world average is 0.0 billion U.S. dollars, based on data from countries. Historically, the average for Venezuela from to is billion U.S. dollars. The minimum value, billion U.S. dollars, was reached in while the maximum of billion U.S. dollars was recorded in .

VE: GDP: Real: Terms of Trade Adjustment data was reported at 4,545.323 VEF mn in 2014. This records a decrease from the previous number of 15,418.275 VEF mn for 2013. VE: GDP: Real: Terms of Trade Adjustment data is updated yearly, averaging -1,417.008 VEF mn from Dec 1973 (Median) to 2014, with 42 observations. The data reached an all-time high of 29,694.922 VEF mn in 2008 and a record low of -6,109.152 VEF mn in 1974. VE: GDP: Real: Terms of Trade Adjustment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Gross Domestic Product: Real. The terms of trade effect equals capacity to import less exports of goods and services in constant prices. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

GDP per capita of Venezuela (Bolivarian Republic of) soared by 28.54% from 12,403 US dollars in 2013 to 15,944 US dollars in 2014. Since the 20.54% drop in 2011, GDP per capita rocketed by 47.03% in 2014. GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Graph and download economic data for Gross Portfolio Equity Liabilities to GDP for Bolivarian Republic of Venezuela (DDDM08VEA156NWDB) from 1999 to 2016 about Venezuela, equity, participation, liabilities, gross, and GDP.

Graph and download economic data for Gross Portfolio Debt Liabilities to GDP for Bolivarian Republic of Venezuela (DDDM10VEA156NWDB) from 1999 to 2016 about Venezuela, liabilities, debt, gross, and GDP.