Venezuela (Venezuela (Bolivarian Republic of)) Economic Statistics and Indicators

27, Jan 2020, EST. Welcome to the Venezuela economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Venezuela (Venezuela (Bolivarian Republic of)) › Change country
National or Regional Currency: Bolivar Fuerte, VEF
Year of data: 2015 › Change year
Number of Indicators Listed: 36
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 28,868,486 (July 2014 est.)
Area: total: 912,050 sq km ; land: 882,050 sq km ; water: 30,000 sq km
Natural Resources: petroleum, natural gas, iron ore, gold, bauxite, other minerals, hydropower, diamonds
Capital: name: Caracas ; geographic coordinates: 10 29 N, 66 52 W ; time difference: UTC-4.5 (a half hour ahead of Washington, DC, during Standard Time)

Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 45% of budget revenues, and around 12% of GDP. Fueled by high oil prices, pre-election government spending helped spur GDP growth in 2012 to 5.6%. Government spending, minimum wage hikes, and improved access to domestic credit created an increase in consumption which combined with supply problems to cause higher inflation - roughly 20% in 2012 and rising to more than 56% in 2013. Former President Hugo CHAVEZ's efforts to increase the government's control of the economy by nationalizing firms in the agribusiness, financial, construction, oil, and steel sectors hurt the private investment environment, reduced productive capacity, and slowed non-petroleum exports. In 2013, Venezuela continued to wrestle with housing and electricity crises, and rolling food and goods shortages, resulting from the government's unorthodox economic policies. The budget deficit for the public sector reached 17% of GDP in 2012 and was trimmed to under 10% of GDP in 2013. The Venezuelan government has maintained a regime of strict currency exchange controls since 2003. Venezuelan law now sanctions a three-tiered exchange rate system, with rates based on the government's import priorities.
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GDP (Constant Prices, National Currency) for Venezuela in year 2015 is VEF 56.401 Billion.

GDP Growth (Constant Prices, National Currency) for Venezuela in year 2015 is -5.7 %.

GDP (Current Prices, National Currency) for Venezuela in year 2015 is VEF 5,660.88 Billion.

GDP (Current Prices, US Dollars) for Venezuela in year 2015 is US$ 239.572 Billion.

GDP Deflator for Venezuela in year 2015 is 10,036.84 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Venezuela in year 2015 is VEF 1,823.30 .

GDP Per Capita (Current Prices, National Currency) for Venezuela in year 2015 is VEF 183,001.74 .

GDP Per Capita (Current Prices, US Dollars) for Venezuela in year 2015 is US$ 7,744.75 .

GDP (PPP), US Dollars for Venezuela in year 2015 is US$ 515.745 Billion.

GDP Per Capita (PPP), US Dollars for Venezuela in year 2015 is US$ 16,672.72 .

GDP Share of World Total (PPP) for Venezuela in year 2015 is 0.454 %.

Implied PPP Conversion Rate for Venezuela in year 2015 is 10.976 .

Investment (% of GDP) for Venezuela in year 2015 is 14.244 %.

Gross National Savings (% of GDP) for Venezuela in year 2015 is 12.224 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Venezuela in year 2015 is 1,460.53 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Venezuela in year 2015 is 121.738 %.

Inflation, End of Year (Indexed to Year 2000) for Venezuela in year 2015 is 2,357.90 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Venezuela in year 2015 is 180.87 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Venezuela in year 2015 is -22.18 %.

Import Volumes of Goods Only (Percent Change) for Venezuela in year 2015 is -22.711 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Venezuela in year 2015 is -11.773 %.

Export Volumes of Goods Only (Percent Change) for Venezuela in year 2015 is -8.522 %.

Unemployment Rate (% of Labour Force) for Venezuela in year 2015 is 7.387 %.

Population for Venezuela in year 2015 is 30.933 Million .

General government revenue (National Currency) for Venezuela in year 2015 is VEF 1,265.35 Billions.

General government revenue (% of GDP) for Venezuela in year 2015 is 22.353 %.

General government total expenditure (National Currency) for Venezuela in year 2015 is VEF 2,322.75 Billions.

General government total expenditure (% of GDP) for Venezuela in year 2015 is 41.032 %.

Total Government Net Lending/ Borrowing (National Currency) for Venezuela in year 2015 is VEF -1,057.40 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Venezuela in year 2015 is -18.679 %.

Fiscal Year Gross Domestic Product, Current Prices for Venezuela in year 2015 is VEF 5,660.88 Billions.

Current Account Balance (US Dollars) for Venezuela in year 2015 is US$ -18.15 Billion.

Current Account Balance (% GDP) for Venezuela in year 2015 is -7.576 %.