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.

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 750 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).

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.

Key information about Venezuela GDP Per Capita

• Venezuela Gross Domestic Product (GDP) per Capita reached 640,750.491 USD in Dec 2017, compared with 97,841.180 USD in Dec 2016.
• Venezuela GDP Per Capita data is updated yearly, available from Dec 1960 to Dec 2017, with an average number of 3,256.471 USD.
• The data reached an all-time high of 640,750.491 USD in Dec 2017 and a record low of 869.907 in Dec 1965.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The Central Bank of Venezuela provides Nominal GDP in local currency. The National Institute of Statistics provides Mid-Year Population. Federal Reserve Board average market exchange rate is used for currency conversions. GDP per Capita prior to 1997 is sourced from the World Bank.

• In the latest reports, Venezuela GDP contracted 26.791 % YoY in Mar 2019.
• Venezuela Nominal GDP reached 20,139.534 USD bn in Dec 2017.
• Its GDP deflator (implicit price deflator) increased 748.056 % in Dec 2017.
• Gross Savings Rate of Venezuela was measured at -17.807 % in Dec 2017.

In 2024, the gross domestic product (GDP) per capita (in PPP dollars) in Venezuela was estimated at approximately 7.53 thousand international dollars. From 1980 to 2024, the figure dropped by around 14.71 thousand 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 about 780 international dollars.

The Gross Domestic Product per capita in Venezuela was last recorded at 17131.39 US dollars in 2014, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Venezuela, when adjusted by Purchasing Power Parity is equivalent to 96 percent of the world's average. This dataset provides - Venezuela GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Venezuela VE: GDP: USD: Gross National Income per Capita: Atlas Method data was reported at 12,780.000 USD in 2014. This records an increase from the previous number of 11,760.000 USD for 2013. Venezuela VE: GDP: USD: Gross National Income per Capita: Atlas Method data is updated yearly, averaging 3,230.000 USD from Dec 1962 (Median) to 2014, with 53 observations. The data reached an all-time high of 12,780.000 USD in 2014 and a record low of 920.000 USD in 1966. Venezuela VE: GDP: USD: Gross National Income per Capita: Atlas Method 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. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

GDP per capita growth (annual %) in Venezuela was reported at --8.1731 % in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - GDP per capita growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

Venezuela VE: GDP: GNI per Capita data was reported at 97,505.073 VEF in 2014. This records an increase from the previous number of 71,731.969 VEF for 2013. Venezuela VE: GDP: GNI per Capita data is updated yearly, averaging 34.386 VEF from Dec 1960 (Median) to 2014, with 55 observations. The data reached an all-time high of 97,505.073 VEF in 2014 and a record low of 3.301 VEF in 1961. Venezuela VE: GDP: GNI per Capita 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. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Venezuela VE: GDP: Real: GNI per Capita data was reported at 1,921.885 VEF in 2014. This records a decrease from the previous number of 1,970.882 VEF for 2013. Venezuela VE: GDP: Real: GNI per Capita data is updated yearly, averaging 1,830.389 VEF from Dec 1961 (Median) to 2014, with 54 observations. The data reached an all-time high of 2,212.016 VEF in 1977 and a record low of 1,335.497 VEF in 2003. Venezuela VE: GDP: Real: GNI per Capita 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: Real. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

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.

Adjusted net national income per capita (current US$) in Venezuela was reported at 11724 USD in 2014, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - Adjusted net national income per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

Venezuela: Cost of starting a business, % of income per capita: The latest value from 2019 is 211.8 percent of per capita GNI, a decline from 393 percent of per capita GNI in 2018. In comparison, the world average is 19.87 percent of per capita GNI, based on data from 185 countries. Historically, the average for Venezuela from 2003 to 2019 is 91.12 percent of per capita GNI. The minimum value, 10 percent of per capita GNI, was reached in 2007 while the maximum of 393 percent of per capita GNI was recorded in 2018.

Pdb Per Kapita Venezuela dilaporkan sebesar 640,750.491 USD pada 2017. Rekor ini naik dibanding sebelumnya yaitu 97,841.180 USD untuk 2016. Data Pdb Per Kapita Venezuela diperbarui tahunan, dengan rata-rata 3,256.471 USD dari 1960 sampai 2017, dengan 58 observasi. Data ini mencapai angka tertinggi sebesar 640,750.491 USD pada 2017 dan rekor terendah sebesar 869.907 USD pada 1965. Data Pdb Per Kapita Venezuela tetap berstatus aktif di CEIC dan dilaporkan oleh CEIC Data. Data dikategorikan dalam Global Economic Monitor World Trend Plus – Table: GDP Per Capita: USD: Annual.

Adjusted net national income per capita (annual % growth) in Venezuela was reported at --18.65 % in 2014, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - Adjusted net national income per capita (annual % growth) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

In 2023, Puerto Rico and The Bahamas were the states with the highest gross domestic product (GDP) per capita in Latin America and the Caribbean. The average GDP generated per person in the Bahamas amounted to 34,749 U.S. dollars, whereas the average wealth created per capita in Puerto Rico was estimated at around 34,749 U.S. dollars. In that same year, this region's lowest GDP per capita was that of Haiti, at less than 1,693 U.S. dollars per person per year. The largest economies in Latin America GDP is the total value of all goods and services produced in a country in a year. It is an important indicator to measure the economic strength of a country and the average wealth of its population. By far, the two largest economies in the region are Brazil and Mexico, both registering GDPs three times bigger than the third place, Argentina. Nonetheless, they are the two most populated countries by a great margin.
Key economic indicators of Latin America Latin America emerges as an important region in the world economy, as of 2023, around 7.3 percent of the global GDP, a similar share to the Middle East. Nevertheless, the economic development of most of its countries has been heavily affected by other factors, such as corruption, inequality, inflation, or crime and violence. Countries such as Venezuela, Suriname, and Argentina are constantly ranking among the highest inflation rates in the world. While Jamaica, Ecuador, and Haiti rank as some of the most crime-ridden states.

In the timeframe presented, there has been a general uptick in the average monthly salary for Venezuelan employees, peaking at ******* USD in July 2024.

Venezuela VE: GNI: PPP: GNI per Capita data was reported at 17,440.000 Intl $ in 2014. This records a decrease from the previous number of 17,700.000 Intl $ for 2013. Venezuela VE: GNI: PPP: GNI per Capita data is updated yearly, averaging 11,450.000 Intl $ from Dec 1990 (Median) to 2014, with 25 observations. The data reached an all-time high of 17,700.000 Intl $ in 2013 and a record low of 9,190.000 Intl $ in 1990. Venezuela VE: GNI: PPP: GNI per Capita 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: Purchasing Power Parity. GNI per capita based on purchasing power parity (PPP). PPP GNI is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current international dollars based on the 2011 ICP round.; ; World Bank, International Comparison Program database.; Weighted average;

The gross domestic product (GDP) per capita in Guyana was estimated at 30,962.25 U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by 29,860.39 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by 19,826.56 U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.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).

The statistic shows gross domestic product (GDP) per capita in the Association of Caribbean States in 2023. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. The Association of Caribbean States comprises Antigua and Barbuda, Bahamas, Barbados, Belize, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago and Venezuela. In 2023, GDP per capita in Barbados amounted to around 23,167.3 U.S. dollars.