Economy of Venezuela. Statistics, Data and Indicators
Venezuela
| 5SD | Credit rank #107 |
| N/A | Quality of life # |
| 177 | Corruption rank#154 |
| 188 | Ease of doing business#164 |
Venezuela Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 112 USD Billion | 2021 |
| GDP Annual Growth Rate | 8 % | 4Q/22 |
| GDP per capita | 14025 USD | 2014 |
| Inflation Rate YoY | 318 % | Sep/23 |
| Interest Rate | 55.78 % | Jul/23 |
| Unemployment Rate | 6.4 % | Dec/18 |
| Balance of Trade | 5680 USD Million | 5.68 B USD | 1Q/19 |
| Current Account | 2533 USD Million | 2.533 B USD | 1Q/19 |
| Foreign Exchange Reserves | 9644 USD Million | 9.644 B USD | Sep/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 112 USD Billion | 2021 |
| GDP Annual Growth Rate | 8 % | 4Q/22 |
| GDP per capita | 14025 USD | 2014 |
| GDP per capita PPP | 17131 USD | 2014 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 241 % | 2021 |
| Government Spending | 1286 VEF Million | 1.286 USD Billion | 1Q/19 |
| Government Budget to GDP | -4.5 % | 2021 |
| Military Expenditure | 4.6 USD Million | 0.005 B USD | 2022 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 22244632 Index Points | Sep/23 |
| Food Inflation | 403 % | Jul/23 |
| Gasoline Prices | 0.02 USD/Liter | Sep/23 |
| Inflation Rate YoY | 318 % | Sep/23 |
| Inflation Rate Mom | 8.7 % | Sep/23 |
| Core Consumer Prices | 594 Index Points | Dec/13 |
| Core Inflation Rate | 60.3 % | Dec/13 |
| CPI Transportation | 23114477568 Index Points | Sep/23 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 3.5 % | 2022 |
| Balance of Trade | 5680 USD Million | 5.68 USD Billion | 1Q/19 |
| Current Account | 2533 USD Million | 2.533 B USD | 1Q/19 |
| Exports | 8627 USD Million | 8.627 USD Billion | 1Q/19 |
| External Debt | 0 USD Million | 0 USD Billion | Jul/23 |
| Foreign Exchange Reserves | 9644 USD Million | 9.644 USD Billion | Sep/23 |
| Imports | 2947 USD Million | 2.947 USD Billion | 1Q/19 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 161 Tonnes | 2Q/23 |
| Interbank Rate | 22 % | Dec/16 |
| Interest Rate | 55.78 % | Jul/23 |
| Money Supply M0 | 25.12 VEF Million | 0.025 USD Billion | Aug/23 |
| Money Supply M1 | 44992 VEF Million | 44.992 USD Billion | Aug/23 |
| Money Supply M2 | 45073 VEF Million | 45.073 USD Billion | Aug/23 |
| Money Supply M3 | 45073 VEF Million | 45.073 USD Billion | Aug/23 |
| Central Bank Balance Sheet | 976148544 VEF Thousand | 976.149 B USD | Aug/23 |
| Deposit Interest Rate | 36 % | Oct/23 |
| Foreign Direct Investment | 105 USD Million | 0.105 B USD | 1Q/19 |
| Private Sector Credit | 150278 VEF Thousand | 1.503 B USD | Aug/23 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 13000000 VEF/Month | 13000000 USD/Month | Jan/23 |
| Unemployment Rate | 6.4 % | Dec/18 |
| Employed Persons | 15011108 Person | 15.011 Million Person | Dec/18 |
| Employment Rate | 93.65 % | Dec/18 |
| Unemployed Persons | 1018421 Persons | 1.018 Million Persons | Dec/18 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 34 % | 2023 |
| Personal Income Tax Rate | 34 % | 2023 |
| Sales Tax Rate | 16 % | 2023 |
| Social Security Rate | 23 % | 2023 |
| Social Security Rate For Companies | 17 % | 2023 |
| Social Security Rate For Employees | 6 % | 2023 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 820 BBL/D/1K | Aug/23 |
| Industrial Production | -20.6 % | Jan/19 |
| Steel Production | 2 Thousand Tonnes | Dec/20 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 14 index points | 2022 |
| Corruption Rank | 177 place | 2022 |
| Ease of Doing Business | 188 place | 2019 |
| Competitiveness Index | 41.83 Index Points | 2019 |
| Competitiveness Rank | 133 | 2019 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | 66 index points | 2Q/20 |
| Retail Sales MoM | -29.6 % | Jan/19 |
| Retail Sales YoY | -53.5 % | Jan/19 |
| Consumer Spending | 3819 VEF Million | 3.819 B USD | 1Q/19 |
