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.

The gross domestic product (GDP) per capita in Venezuela was forecast to continuously increase between 2024 and 2025 by in total 0.1 thousand U.S. dollars (+2.49 percent). According to this forecast, in 2025, the GDP per capita will have increased for the fifth consecutive year to 4.12 thousand 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 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).Find more key insights for the gross domestic product (GDP) per capita in countries like Suriname, Guyana, and Colombia.

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.

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.

The growth of the real gross domestic product (GDP) in Venezuela was forecast to continuously decrease between 2024 and 2025 by in total 0.01 percentage points. According to this forecast, in 2025, the growth will have decreased for the third consecutive year to three percent. 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.Find more statistics on other topics about Venezuela with key insights such as the gross domestic product per capita, the total population, and ratio of the national debt to the gross domestic product.

Venezuela VE: GDP: 2010 Price: USD: GNI per Capita data was reported at 13,607.755 USD in 2014. This records a decrease from the previous number of 13,954.673 USD for 2013. Venezuela VE: GDP: 2010 Price: USD: GNI per Capita data is updated yearly, averaging 12,959.921 USD from Dec 1961 (Median) to 2014, with 54 observations. The data reached an all-time high of 15,662.002 USD in 1977 and a record low of 9,455.878 USD in 2003. Venezuela VE: GDP: 2010 Price: USD: 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: 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 2010 U.S. dollars.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The gross domestic product (GDP) per capita (in PPP dollars) in Colombia was forecast to continuously increase between 2024 and 2029 by in total 2.2 thousand PPP dollars (+11.66 percent). After the sixth consecutive increasing year, the GDP per capita is estimated to reach 21.03 thousand PPP dollars and therefore a new peak in 2029. Find more key insights for the gross domestic product (GDP) per capita (in PPP dollars) in countries like Suriname, Guyana, and Venezuela.

Venezuela VE: Cost of Business Start-Up Procedures: % of GNI per Capita data was reported at 351.600 % in 2017. This records an increase from the previous number of 136.400 % for 2016. Venezuela VE: Cost of Business Start-Up Procedures: % of GNI per Capita data is updated yearly, averaging 30.200 % from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 351.600 % in 2017 and a record low of 10.000 % in 2007. Venezuela VE: Cost of Business Start-Up Procedures: % of 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: Company Statistics. Cost to register a business is normalized by presenting it as a percentage of gross national income (GNI) per capita.; ; World Bank, Doing Business project (http://www.doingbusiness.org/).; Unweighted average; Data are presented for the survey year instead of publication year.

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.

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 U.S. dollars. 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.

The gross domestic product (GDP) per capita in Guyana was forecast to continuously increase between 2024 and 2029 by in total 10.4 thousand U.S. dollars (+35.96 percent). After the fifteenth consecutive increasing year, the GDP per capita is estimated to reach 39.35 thousand U.S. dollars and therefore a new peak in 2029. 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).Find more key insights for the gross domestic product (GDP) per capita in countries like Venezuela, Suriname, and Colombia.

Key information about Venezuela Gross Savings Rate

• Venezuela Gross Savings Rate was measured at -17.8% in Dec 2017, compared with -17.8% in the previous year.
• Venezuela Gross Savings Rate is updated yearly, with data available from Dec 1970 to Dec 2017, and an average rate of -17.8%.
• The data reached an all-time high of -17.8% in Dec 1974 and a record low of -17.8% in Dec 2017.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. Gross National Savings is calculated as Gross National Disposable Income less Final Consumption Expenditure. The Central Bank of Venezuela provides Gross National Income, Gross National Disposable Income and Final Consumption Expenditure in local currency. Gross National Savings Rate prior to 1997 is sourced from the World Bank.
• In the latest reports, Venezuela GDP contracted 26.8% YoY in Mar 2019.
• Venezuela Nominal GDP reached 20,139,533.8 USD mn in Dec 2017. Its GDP deflator (implicit price deflator) increased 748.1% in Dec 2017.
• Venezuela GDP Per Capita reached 640,750.5 USD in Dec 2017.

Venezuela: Cost of starting a business, % of income per capita: Pour cet indicateur, La Banque mondiale fournit des données pour la Venezuela de 2003 à 2019. La valeur moyenne pour Venezuela pendant cette période était de 91.12 percent of per capita GNI avec un minimum de 10 percent of per capita GNI en 2007 et un maximum de 393 percent of per capita GNI en 2018.

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.

16.910 (Int. PPA $ per capita) in 2011. 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.

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.

The gross domestic product (GDP) per capita in Colombia was forecast to continuously increase between 2024 and 2029 by in total 1.5 thousand U.S. dollars (+18.94 percent). After the fourth consecutive increasing year, the GDP per capita is estimated to reach 9.39 thousand U.S. dollars and therefore a new peak in 2029. 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).Find more key insights for the gross domestic product (GDP) per capita in countries like Guyana, Suriname, and Venezuela.

O médio por 2019 foi 19.87 percent of Gross National Income per capita.O valor mais alto foi em Venezuela: 211.8 percent of Gross National Income per capita e o valor mais baixo foi em Eslovénia: 0 percent of Gross National Income per capita. Abaixo há um gráfico para todos os países onde existem dados disponíveis.

In the timeframe presented, there has been a general uptick in the average monthly salary for Venezuelan employees, peaking at $230.76 USD in July 2024.

2019 için ortalama değer 41.39 percent of Gross National Income per capita.Venezuela en yüksek değer olmuş: 211.8 percent of Gross National Income per capita, en düşük değer ise Şili olmuş: 2.7 percent of Gross National Income per capita. Aşağıda bütün ülkeler için diyagram sunulmuş olup burada şunlar hakkında bilgi verilmiştir.