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 current prices in Venezuela was estimated at about 119.81 billion U.S. dollars in 2024. From 1980 to 2024, the GDP rose by around 49.97 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 approximately 18.79 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.

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.

Le Produit Intérieur Brut (PIB) du Venezuela a augmenté de 8,54 pour cent au quatrième trimestre de 2024 par rapport au même trimestre de l'année précédente. Cette dataset fournit - Taux de croissance annuel du PIB du Venezuela - valeurs réelles, données historiques, prévisions, graphiques, statistiques, calendrier économique et actualités.

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.

In 2024, the gross domestic product (GDP) per capita in Venezuela was estimated at approximately 4.51 thousand U.S. dollars. From 1980 to 2024, the figure dropped by around 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 about 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).

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 July of 2025.

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.

GDP (current US$) in Venezuela was reported at 482359318768 USD in 2014, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The gross domestic product (GDP) at PPP of Venezuela was estimated at about 227.28 billion PPP dollars in 2024. From 1980 to 2024, the GDP rose by around 108.45 billion PPP dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2026, the GDP will decrease by approximately 10.99 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 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.

Venezuela recorded a Government Debt to GDP of 164.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Venezuela Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP per capita (constant 2015 US$) in Venezuela was reported at 7697 USD in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

As shown in this statistic, the ratio of government expenditure to GDP in Venezuela stood at approximately 17.63 percent in 2024.Fluctuating decline between 1988 and 2024A total decrease by approximately 15.58 percentage points can be observed between 1988 and 2024. The data emphasizes however that this decrease did not happen continuously.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

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.

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.

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.

GDP per capita (constant LCU) in Venezuela was reported at 1092 LCU in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - GDP per capita (constant LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2024, the ratio of government expenditure to GDP in Venezuela was estimated at approximately 17.63 percent. Between 1988 and 2024, the figure dropped by around 15.58 percentage points, though the decline followed an uneven course rather than a steady trajectory.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

GDP deflator (base year varies by country) in Venezuela was reported at 511966 year in 2017, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - GDP deflator (base year varies by country) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.