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 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 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 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.

Actual value and historical data chart for Venezuela GDP Us Dollar

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.

Actual value and historical data chart for Venezuela GDP Per Capita Growth Annual Percent

Actual value and historical data chart for Venezuela GDP Deflator Base Year Varies By Country

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: IMF Forecast: General Government: Primary Balance: % of GDP data was reported at -30.808 % in 2023. This records a decrease from the previous number of -30.321 % for 2022. Venezuela VE: IMF Forecast: General Government: Primary Balance: % of GDP data is updated yearly, averaging -2.197 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 12.831 % in 1996 and a record low of -31.522 % in 2017. Venezuela VE: IMF Forecast: General Government: Primary Balance: % of 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.FM: Government Finance Statistics.

The gross domestic product (GDP) at PPP of Venezuela was 227.64 billion PPP dollars in 2024. Between 1980 and 2024, the GDP rose by 108.81 billion PPP dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the GDP will increase by 3.76 billion PPP dollars.This indicator describes the gross domestic product at current prices expressed in international dollars and adjusted for purchasing power parity. The gross domestic product refers to the total value of final goods and services produced during a year. For the indicator at hand, the GDP value has been adjusted for purchasing power parity to increase comparability regarding the costs for goods and services. The International Monetary Fund database provides further details on the utilized exchange rates.

In 2024, the ratio of government revenue to gross domestic product (GDP) in Venezuela was estimated at 13.98 percent. Between 1988 and 2024, the figure dropped by 9.99 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.

Actual value and historical data chart for Venezuela GDP Per Capita Constant Lcu

In 2023, the ratio of military expenditure to gross domestic product (GDP) in Venezuela stood at 0.5 percent. Between 1960 and 2023, the figure dropped by 2.56 percentage points, though the decline followed an uneven course rather than a steady trajectory.

Key information about Venezuela Household Debt: % of GDP

• Venezuela household debt accounted for 3.4 % of the country's Nominal GDP in Dec 2017, compared with the ratio of 4.8 % in the previous year.
• Venezuela household debt to GDP ratio is updated yearly, available from Dec 2004 to Dec 2017.
• The data reached an all-time high of 11.5 % in Dec 2014 and a record low of 1.6 % in Dec 2004.

CEIC calculates annual Household Debt as % of Nominal GDP from monthly Household Debt and annual Nominal GDP. The Superintendency of Banking Sector Institutions provides Household Debt in local currency. The Central Bank of Venezuela provides Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Mortgages and Consumer Loans. Household Debt prior to 2016 is based on old currency, Bolivar Fuerte (1 VES = 100 000 VEF).


Related information about Venezuela Household Debt: % of GDP

• In the latest reports, Venezuela Household Debt reached 27.5 USD mn in Mar 2023.
• Money Supply M2 in Venezuela increased 297.6 % YoY in Oct 2025.
• Venezuela Foreign Exchange Reserves was measured at 13.4 USD bn in Oct 2025.
• The Foreign Exchange Reserves equaled 7.2 Months of Import in Jul 2025.

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.

Actual value and historical data chart for Venezuela GDP Per Capita Constant 2000 Us Dollar

Venezuela recorded a Current Account surplus of 4.10 percent of the country's Gross Domestic Product in 2024. This dataset provides - Venezuela Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2020, the military budget reported by Venezuela accounted for approximately 1.6 percent of the country's GDP, the largest of the analyzed period. However, the data for Venezuela is uncertain due to the very high rate of inflation and currency depreciation.

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 3,191.476 USD dari 1960 sampai 2017, dengan 58 observasi. Data ini mencapai angka tertinggi sebesar 640,750.491 USD pada 2017 dan rekor terendah sebesar 869.041 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.