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.

The gross domestic product (GDP) per capita (in PPP dollars) in Venezuela was forecast to continuously increase between 2024 and 2025 by in total 0.2 thousand PPP dollars (+2.7 percent). According to this forecast, in 2025, the GDP per capita will have increased for the fifth consecutive year to 7.55 thousand PPP dollars. Find more key insights for the gross domestic product (GDP) per capita (in PPP dollars) in countries like Guyana, Suriname, and Colombia.

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.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Venezuela (PPCGDPVEA620NUPN) from 1950 to 2010 about Venezuela, PPP, per capita, and GDP.

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.

Venezuela VE: GDP: USD: per Capita data was reported at 15,692.413 USD in 2014. This records an increase from the previous number of 12,237.194 USD for 2013. Venezuela VE: GDP: USD: per Capita data is updated yearly, averaging 3,196.113 USD from Dec 1960 (Median) to 2014, with 55 observations. The data reached an all-time high of 15,692.413 USD in 2014 and a record low of 961.456 USD in 1964. Venezuela VE: GDP: USD: 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. GDP per capita is gross domestic product divided by midyear population. 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. Data are in current U.S. dollars.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Venezuela (RGDPCHVEA625NUPN) from 1950 to 2010 about Venezuela, chained, PPP, per capita, and GDP.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Venezuela (RGDPL2VEA625NUPN) from 1950 to 2010 about Venezuela, PPP, domestic, per capita, GDP, and rate.

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.

Graph and download economic data for Investment Share of Purchasing Power Parity Converted GDP Per Capita at current prices for Venezuela (CIPPPGVEA156NUPN) from 1950 to 2010 about Venezuela, PPP, investment, per capita, and GDP.

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;

GDP per capita based on PPP of Venezuela (Bolivarian Republic of) surged by 9.32% from 7,266 international dollars in 2022 to 7,943 international dollars in 2023. Since the 29.41% drop in 2020, GDP per capita based on PPP soared by 38.62% in 2023. GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency.

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.

Venezuela VE: Government Expenditure per Student: Primary: % of(GDP) Gross Domestic Productper Capita data was reported at 0.019 % in 2015. This records a decrease from the previous number of 17.908 % for 2009. Venezuela VE: Government Expenditure per Student: Primary: % of(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 8.555 % from Dec 2006 (Median) to 2015, with 4 observations. The data reached an all-time high of 17.908 % in 2009 and a record low of 0.019 % in 2015. Venezuela VE: Government Expenditure per Student: Primary: % of(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.WDI: Education Statistics. Government expenditure per student is the average general government expenditure (current, capital, and transfers) per student in the given level of education, expressed as a percentage of GDP per capita.; ; United Nations Educational, Scientific, and Cultural Organization (UNESCO) Institute for Statistics.; Median;

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.

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.

Key information about Venezuela Investment: % of GDP

• Venezuela Investment accounted for -3.7 % of its Nominal GDP in Dec 2017, compared with a ratio of 0.1 % in the previous year.
• Venezuela investment share of Nominal GDP data is updated yearly, available from Dec 1950 to Dec 2017, with an average ratio of 24.8 %.
• The data reached an all-time high of 42.8 % in Dec 1978 and a record low of -3.7 % in Dec 2017.

CEIC calculates Investment as % of Nominal GDP from annual Nominal Gross Capital Formation and annual Nominal GDP. The Central Bank of Venezuela provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency. Investment as % of Nominal GDP prior to 1997 is sourced from the International Monetary Fund.


Related information about Venezuela Investment: % of GDP

• In the latest reports, Venezuela GDP contracted 26.8 % YoY in Mar 2019.
• Venezuela Nominal GDP reached 20,139.5 USD bn 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.
• Its Gross Savings Rate was measured at -17.8 % in Dec 2017.

Graph and download economic data for Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Venezuela (KCPPPGVEA156NUPN) from 1950 to 2010 about Venezuela, PPP, per capita, consumption, real, and GDP.