Due to political unrest, the information on these pages may not reflect current conditions in the country.
(by per capita GNI) Source: The World Bank
Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income
Level of Development
Source: United Nations
Possible values: Developed, In Transition and Developing
Venezuela is a founding member of OPEC and is one of the biggest exporters of crude oil in the world.
Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.
Top 3 Trade Partners (2013): United States, China, and Brazil
|Top Industries Source: CIA World Factbook||
Petroleum; Construction Materials; Food Processing; Textiles
Gross Domestic Product (GDP) 
|GDP, PPP (current international)||$543,891,085,574 (2014)|
|GDP Growth Rate (annual %)||-19.621% (2018)|
|GDP Per Capita, PPP (current international)||$18,102 (2014)|
GDP Country Rank 41/197 (2014)
GDP Composition %
Economic Indicators 
|Inflation, consumer prices (annual %)||254.949% (2016)|
|External debt stocks, total (DOD, current US$)||$189,305,601,068 (2020)|
|Total tax rate (% of commercial profits)||73.3% (2019)|
|Real Interest Rate (5 year average %)||-85.725% (2017)|
|Manufacturing, value added (% of GDP)||12.073% (2014)|
|Current Account Balance (BoP, current US$)||($3,870,000,000) (2016)|
Labor and Employment 
|Labor Force, Total||10,665,579 (2021)|
|Employment in Agriculture (% of total employment)||8.391% (2020)|
|Employment in Industry (% of total employment)||16.117% (2020)|
|Employment in Services (% of total employment)||75.492% (2020)|
|Unemployment Rate||6.413% (2021)|
|Imports of goods and services (current US$)||$151,446,288,629 (2014)|
|Exports of goods and services (current US$)||$80,524,231,883 (2014)|
|Total Merchandise Trade (% of GDP)||24.439% (2014)|
|FDI, net inflows (BoP, current US$)||($456,000,000) (2020)|
|Commercial Service Exports (current US$)||$1,242,000,000 (2016)|
Economic Snapshot 
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Venezuela’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.