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 5.3 percent in 2024. From 1980 to 2024, the growth rose by 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 8.3 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 8.71 percent in the third quarter of 2025 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.

The gross domestic product (GDP) in current prices in Venezuela was estimated at 119.8 billion U.S. dollars in 2024. From 1980 to 2024, the GDP rose by 49.96 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2026, the GDP will decrease by 39.88 billion U.S. dollars.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

Graph and download economic data for Gross Domestic Product for Bolivarian Republic of Venezuela (MKTGDPVEA646NWDB) from 1960 to 2014 about Venezuela and GDP.

In 2019, Venezuela’s estimated gross domestic product (GDP) per capita dropped to 2,624.41 U.S. dollars from 3,529.72 U.S. dollars the year before. the country's GDP has been on a continuous downswing for about a decade now - in 2010, it amounted to more than 11,000 U.S. dollars, and seemed to recover from a sudden slump again in 2016, before decreasing rapidly ever since. GDP per capita is a measurement of a country’s economic output that accounts for its number of people, thus making it a good measurement of a country’s standard of living. A time of economic hardships Currently, a major economic crisis is shaking Venezuela, resulting in hyperinflation, food and water shortages, and unemployment. Venezuela’s inflation rate has skyrocketed to over 900,000 percent in 2018, and the economy is suffering, with the Venezuelan GDP growth decreasing substantially each year since 2014. A population affected by instability In response to the economic and political climate, many are leaving the country for places such as Colombia, Peru, and Ecuador, with hopes for more stability and better economic prospects. Due in part to this, Venezuela’s population growth has decreased consistently over the last five years: In 2019, the country’s population was around 28 million inhabitants - a figure that is estimated to decrease further in the future.

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.

VE: GDP: % of GDP: Gross Value Added: Agriculture data was reported at 5.027 % in 2014. This records an increase from the previous number of 4.903 % for 2013. VE: GDP: % of GDP: Gross Value Added: Agriculture data is updated yearly, averaging 5.016 % from Dec 1968 (Median) to 2014, with 47 observations. The data reached an all-time high of 6.611 % in 1988 and a record low of 3.657 % in 2006. VE: GDP: % of GDP: Gross Value Added: Agriculture 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: Share of GDP. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. 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.

In 2024, the gross domestic product (GDP) per capita in Venezuela was estimated at 4,510 U.S. dollars. From 1980 to 2024, the figure dropped by 160 U.S. dollars, though the decline followed an uneven course rather than a steady trajectory. Between 2024 and 2026, the GDP per capita will decrease by 1,540 U.S. dollars.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

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.

The gross domestic product (GDP) by fiscal year in Venezuela was estimated at 15.7 million U.S. dollars in 2024. Following a continuous upward trend, the GDP has risen by 15.7 million U.S. dollars since 2018. Between 2024 and 2026, the GDP will increase by 388.98 million U.S. dollars.

Monthly and long-term Venezuela GDP data: historical series and analyst forecasts curated by FocusEconomics.

Venezuela: Gross domestic product, billions of 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 0.00 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: % of GNI: Gross Savings data was reported at 9.041 % in 2014. This records a decrease from the previous number of 19.650 % for 2013. VE: GDP: % of GNI: Gross Savings data is updated yearly, averaging 30.179 % from Dec 1970 (Median) to 2014, with 45 observations. The data reached an all-time high of 46.273 % in 1974 and a record low of 9.041 % in 2014. VE: GDP: % of GNI: Gross Savings 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. Gross savings are calculated as gross national income less total consumption, plus net transfers.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

The gross domestic product (GDP) at current prices of Venezuela was estimated at 15.7 million U.S. dollars in 2024. Following a continuous upward trend, the GDP has risen by 15.7 million U.S. dollars since 2018. Between 2024 and 2026, the GDP will increase by 388.98 million U.S. dollars.

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.

The Gross Domestic Product per capita in Venezuela was last recorded at 14025.36 US dollars in 2014. The GDP per Capita in Venezuela is equivalent to 111 percent of the world's average. This dataset provides - Venezuela GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Venezuela VE: GDP: % of GDP: Exports of Goods and Services data was reported at 16.694 % in 2014. This records a decrease from the previous number of 24.765 % for 2013. Venezuela VE: GDP: % of GDP: Exports of Goods and Services data is updated yearly, averaging 26.811 % from Dec 1960 (Median) to 2014, with 55 observations. The data reached an all-time high of 39.659 % in 2005 and a record low of 16.694 % in 2014. Venezuela VE: GDP: % of GDP: Exports of Goods and Services 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. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

GDP per capita based on PPP of Venezuela (Bolivarian Republic of) grew by 4.97% from 16,528 international dollars in 2010 to 17,349 international dollars in 2011. Since the 3.92% dip in 2009, GDP per capita based on PPP climb by 3.30% in 2011. GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. 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.