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.

Depicted is the growth of the real gross domestic product (GDP) in Venezuela which lies at approximately -4 percent in 2025.Fluctuating rise between 1980 and 2025Compared to the earliest depicted observation from 1980 there is a total increase by approximately 0.95 percentage points. From the pattern between 1980 and 2025 it becomes clear that this increase however did not happen continuously.Continuous decline between 2025 and 2026In 2026 the growth will be about -5.50 percent, according to forecasts. From 2025 onwards, there is an overall decrease by approximately 1.50 percentage points. This decrease reflects a consistent falling trend.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 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.

This statistic shows the gross domestic product (GDP) in current prices in Venezuela which amounts to approximately 108.51 billion U.S. dollars in 2025.Fluctuating rise between 1980 and 2025A comparison to the earliest shown observation from 1980 reveals a total increase by approximately 38.67 billion U.S. dollars. The trajectory from 1980 to 2025 shows however that this increase did not happen continuously.Continuous decline between 2025 and 2026The GDP will be roughly 101.02 billion U.S. dollars in 2026, according to forecasts. This indicates an overall decrease by approximately 7.49 billion U.S. dollars since 2025. This decrease reflects a consistent falling trend.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.

Venezuela VE: GDP: Growth data was reported at -3.894 % in 2014. This records a decrease from the previous number of 1.343 % for 2013. Venezuela VE: GDP: Growth data is updated yearly, averaging 3.044 % from Dec 1961 (Median) to 2014, with 54 observations. The data reached an all-time high of 18.287 % in 2004 and a record low of -8.856 % in 2002. Venezuela VE: GDP: Growth 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 percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

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.

Venezuela VE: GDP: Growth:(GDP) Gross Domestic Productper Capita data was reported at -5.209 % in 2014. This records a decrease from the previous number of -0.077 % for 2013. Venezuela VE: GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging -0.021 % from Dec 1961 (Median) to 2014, with 54 observations. The data reached an all-time high of 16.226 % in 2004 and a record low of -10.814 % in 1989. Venezuela VE: GDP: Growth:(GDP) Gross Domestic Productper 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: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP per capita is gross domestic product divided by midyear population. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Depicted is the gross domestic product (GDP) per capita in Venezuela which stands at approximately 4.07 thousand U.S. dollars in 2025.Fluctuating decline between 1980 and 2025Compared to the earliest depicted observation from 1980 there is a total decrease by approximately 600 U.S. dollars. Looking at the trajectory between 1980 and 2025, one can observe that this decrease however did not happen continuously.Continuous decline between 2025 and 2026In 2026 the GDP per capita will lie at around 3.76 thousand U.S. dollars, according to forecasts. There is an overall decrease by approximately 310 U.S. dollars since 2025. This decrease reflects a consistent falling 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 prices and then divided by the total population. The gross domestic products 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).

VE: GDP: % of GDP: Imports of Goods and Services data was reported at 31.397 % in 2014. This records an increase from the previous number of 29.513 % for 2013. VE: GDP: % of GDP: Imports of Goods and Services data is updated yearly, averaging 20.245 % from Dec 1960 (Median) to 2014, with 55 observations. The data reached an all-time high of 31.556 % in 1978 and a record low of 11.203 % in 1983. VE: GDP: % of GDP: Imports 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. Imports of goods and services represent the value of all goods and other market services received from 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;

The growth of the real gross domestic product (GDP) in Venezuela amounts to approximately -4 percent in 2025.Fluctuating rise between 1980 and 2025Compared to the earliest depicted observation from 1980 there is a total increase by approximately 0.95 percentage points. From the pattern between 1980 and 2025 it becomes clear that this increase however did not happen continuously.Continuous decline between 2025 and 2026The growth will amount to roughly -5.50 percent in 2026, according to forecasts. This indicates an overall decrease by approximately 1.50 percentage points since 2025. This decrease reflects a consistent falling trend.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.

Graph and download economic data for Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Bolivarian Republic of Venezuela (PLGDPOVEA670NRUG) from 1950 to 2019 about Venezuela, PPP, real, GDP, and price.

Venezuela VE: GDP data was reported at 3,031,242.431 VEF mn in 2014. This records an increase from the previous number of 2,245,843.966 VEF mn for 2013. Venezuela VE: GDP data is updated yearly, averaging 657.485 VEF mn from Dec 1960 (Median) to 2014, with 55 observations. The data reached an all-time high of 3,031,242.431 VEF mn in 2014 and a record low of 28.832 VEF mn in 1960. Venezuela VE: GDP 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: 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. Data are in current local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Venezuela VE: GDP: Growth: Gross Value Added: Services data was reported at -1.341 % in 2014. This records a decrease from the previous number of 3.554 % for 2013. Venezuela VE: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 3.143 % from Dec 1969 (Median) to 2014, with 46 observations. The data reached an all-time high of 15.218 % in 2004 and a record low of -6.726 % in 1984. Venezuela VE: GDP: Growth: Gross Value Added: 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: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial 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;

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.

Depicted is the gross domestic product (GDP) at PPP of Venezuela which lies at approximately 223.98 billion PPP dollars in 2025.Fluctuating rise between 1980 and 2025Between 1980 and 2025 a total increase by approximately 105.15 billion PPP dollars can be observed. The data emphasizes however that this increase did not happen continuously.Continuous decline between 2025 and 2026The GDP will lie at roughly 216.29 billion PPP dollars in 2026, according to forecasts. This indicates an overall decrease by approximately 7.69 billion PPP dollars since 2025. This decrease reflects a consistent falling trend.This indicator describes the gross domestic product at current prices expressed in international dollars and adjusted for pruchasing 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.

According to this statistic, the gross domestic product (GDP) by fiscal year in Venezuela is approximately 39.81 million U.S. dollars in 2025.Continuous rise between 2018 and 2025Compared to the earliest depicted observation from 2018 there is a total increase by approximately 39.81 million U.S. dollars. Looking at the trajectory between 2018 and 2025, one can observe that this increase furthermore happened continuously.Continuous rise between 2025 and 2026In 2026 the GDP will stand at about 120.45 million U.S. dollars, according to forecasts. From 2025 onwards, there is an overall increase by approximately 80.64 million U.S. dollars. This growth reflects a steady upward trend.

VE: GDP: % of GDP: Gross Value Added: Services data was reported at 46.821 % in 2014. This records an increase from the previous number of 41.700 % for 2013. VE: GDP: % of GDP: Gross Value Added: Services data is updated yearly, averaging 43.544 % from Dec 1968 (Median) to 2014, with 47 observations. The data reached an all-time high of 53.188 % in 1972 and a record low of 33.477 % in 1990. VE: GDP: % of GDP: Gross Value Added: 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. Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial 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;

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.

Graph and download economic data for Outstanding International Private Debt Securities to GDP for Bolivarian Republic of Venezuela (DDDM05VEA156NWDB) from 1980 to 2020 about Venezuela, debt, securities, private, and GDP.