Venezuela ranked 65/197 by economy size with a GDP of $120B and 128/197 by GDP per capita at $4,218. Venezuela has $197B in government debt, with a debt-to-GDP ratio of 164.3%.
In 2024, Venezuela made up 0.11% of the world's economy, compared to 0.56% in 1960.
Venezuela GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $119,802,963,258 | 5.3% |
| 2023 | $102,376,526,556 | 4% |
| 2022 | $89,013,255,585 | 8% |
| 2021 | $56,614,976,855 | 0.96% |
| 2020 | $42,838,020,721 | -30% |
| 2019 | $73,014,084,091 | -27.7% |
| 2018 | $102,021,093,965 | -19.7% |
| 2017 | $115,883,275,163 | -15.7% |
| 2016 | $112,915,034,262 | -17% |
| 2015 | $125,449,241,571 | -6.22% |
| 2014 | $214,689,614,733 | -3.89% |
| 2013 | $258,930,655,486 | 1.34% |
| 2012 | $372,592,062,768 | 5.63% |
| 2011 | $316,482,190,800 | 4.18% |
| 2010 | $393,192,354,511 | -1.49% |
| 2009 | $329,787,628,928 | -3.2% |
| 2008 | $315,953,388,511 | 5.28% |
| 2007 | $230,364,012,576 | 8.75% |
| 2006 | $183,477,522,124 | 9.87% |
| 2005 | $145,513,489,652 | 10.3% |
| 2004 | $112,451,400,425 | 18.3% |
| 2003 | $83,620,628,582 | -7.76% |
| 2002 | $92,893,587,734 | -8.86% |
| 2001 | $122,911,036,747 | 3.39% |
| 2000 | $117,146,466,003 | 3.69% |
| 1999 | $97,972,842,462 | -5.97% |
| 1998 | $91,336,763,255 | 0.29% |
| 1997 | $85,837,678,560 | 6.37% |
| 1996 | $70,543,211,119 | -0.2% |
| 1995 | $77,389,487,770 | 3.95% |
| 1994 | $58,418,666,667 | -2.35% |
| 1993 | $60,037,460,783 | 0.28% |
| 1992 | $60,416,519,620 | 6.06% |
| 1991 | $53,453,444,787 | 9.73% |
| 1990 | $48,606,952,195 | 6.47% |
| 1989 | $43,536,709,104 | -13.9% |
| 1988 | $60,226,413,793 | 6.51% |
| 1987 | $48,029,034,483 | 4.8% |
| 1986 | $60,516,123,711 | 6.08% |
| 1985 | $61,965,466,667 | 0.87% |
| 1984 | $59,867,743,468 | 5.22% |
| 1983 | $67,556,279,070 | -9.86% |
| 1982 | $67,736,744,186 | 2.64% |
| 1981 | $66,327,441,860 | -1.29% |
| 1980 | $59,116,511,628 | -4.42% |
| 1979 | $48,310,930,233 | 0.76% |
| 1978 | $39,316,279,070 | 2.35% |
| 1977 | $36,210,697,674 | 6.27% |
| 1976 | $31,419,534,884 | 7.73% |
| 1975 | $27,464,651,163 | 2.9% |
| 1974 | $26,100,930,233 | 2.07% |
| 1973 | $17,035,581,395 | 7.11% |
| 1972 | $13,977,727,273 | 1.28% |
| 1971 | $12,986,590,909 | 1.48% |
| 1970 | $11,561,111,111 | 7.71% |
| 1969 | $10,285,111,111 | 0.71% |
| 1968 | $10,034,444,444 | 7.34% |
| 1967 | $9,250,000,000 | 2.83% |
| 1966 | $8,781,333,333 | 1.51% |
| 1965 | $8,427,777,778 | 4.16% |
| 1964 | $8,192,413,793 | 11.1% |
| 1963 | $9,608,717,288 | 3.9% |
| 1962 | $8,814,309,884 | 8.53% |
| 1961 | $8,067,267,031 | 3.19% |
| 1960 | $7,663,938,303 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/venezuela | CC BY 
Venezuela GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $4,218 | - |
| 2023 | $3,617 | - |
| 2022 | $3,155 | - |
| 2021 | $2,005 | - |
| 2020 | $1,506 | - |
| 2019 | $2,523 | - |
| 2018 | $3,423 | - |
| 2017 | $3,791 | - |
| 2016 | $3,670 | - |
| 2015 | $4,103 | - |
| 2014 | $7,096 | - |
| 2013 | $8,656 | - |
| 2012 | $12,607 | - |
| 2011 | $10,844 | $21,241 |
| 2010 | $13,646 | $20,236 |
| 2009 | $11,597 | $20,562 |
| 2008 | $11,262 | $21,402 |
| 2007 | $8,332 | $20,236 |
| 2006 | $6,739 | $18,399 |
| 2005 | $5,432 | $16,511 |
| 2004 | $4,269 | $14,757 |
| 2003 | $3,230 | $12,359 |
| 2002 | $3,652 | $13,375 |
| 2001 | $4,920 | $14,714 |
| 2000 | $4,776 | $14,174 |
| 1999 | $4,071 | $13,623 |
| 1998 | $3,870 | $14,568 |
| 1997 | $3,711 | $14,655 |
| 1996 | $3,113 | $13,824 |
| 1995 | $3,487 | $13,890 |
| 1994 | $2,689 | $13,370 |
| 1993 | $2,825 | $13,702 |
| 1992 | $2,907 | $13,652 |
| 1991 | $2,633 | $12,880 |
| 1990 | $2,452 | $11,628 |
| 1989 | $2,250 | - |
| 1988 | $3,191 | - |
| 1987 | $2,611 | - |
| 1986 | $3,376 | - |
| 1985 | $3,549 | - |
| 1984 | $3,520 | - |
| 1983 | $4,079 | - |
| 1982 | $4,202 | - |
| 1981 | $4,228 | - |
| 1980 | $3,874 | - |
| 1979 | $3,257 | - |
| 1978 | $2,727 | - |
| 1977 | $2,585 | - |
| 1976 | $2,309 | - |
| 1975 | $2,078 | - |
| 1974 | $2,034 | - |
| 1973 | $1,367 | - |
| 1972 | $1,155 | - |
| 1971 | $1,106 | - |
| 1970 | $1,015 | - |
| 1969 | $932 | - |
| 1968 | $938 | - |
| 1967 | $893 | - |
| 1966 | $876 | - |
| 1965 | $869 | - |
| 1964 | $874 | - |
| 1963 | $1,060 | - |
| 1962 | $1,007 | - |
| 1961 | $954 | - |
| 1960 | $939 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/venezuela | CC BY
Venezuela has a GDP per capita of $4,218, ranking 128/197, a GDP per capita based on purchasing power parity (PPP) of $21,241, ranking 93/197, and a median annual after tax income of $3,792, ranking 129/197.
Venezuela GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 65 | 120 | - |
| 2023 | 69 | 130 | - |
| 2022 | 70 | 135 | - |
| 2021 | 85 | 154 | - |
| 2020 | 88 | 158 | - |
| 2019 | 71 | 139 | - |
| 2018 | 62 | 129 | - |
| 2017 | 59 | 124 | - |
| 2016 | 57 | 120 | - |
| 2015 | 56 | 111 | - |
| 2014 | 50 | 92 | - |
| 2013 | 42 | 78 | - |
| 2012 | 33 | 63 | - |
| 2011 | 35 | 67 | 57 |
| 2010 | 29 | 54 | 55 |
| 2009 | 29 | 57 | 53 |
| 2008 | 33 | 61 | 53 |
| 2007 | 38 | 66 | 54 |
| 2006 | 38 | 67 | 54 |
| 2005 | 40 | 69 | 54 |
| 2004 | 44 | 76 | 54 |
| 2003 | 47 | 79 | 59 |
| 2002 | 42 | 74 | 53 |
| 2001 | 34 | 61 | 50 |
| 2000 | 35 | 61 | 50 |
| 1999 | 37 | 65 | 50 |
| 1998 | 38 | 67 | 46 |
| 1997 | 41 | 68 | 44 |
| 1996 | 44 | 74 | 43 |
| 1995 | 41 | 69 | 41 |
| 1994 | 42 | 72 | 39 |
| 1993 | 41 | 70 | 37 |
| 1992 | 38 | 68 | 37 |
| 1991 | 38 | 70 | 38 |
| 1990 | 43 | 72 | 43 |
| 1989 | 41 | 67 | - |
| 1988 | 35 | 53 | - |
| 1987 | 37 | 56 | - |
| 1986 | 31 | 49 | - |
| 1985 | 30 | 45 | - |
| 1984 | 29 | 42 | - |
| 1983 | 26 | 41 | - |
| 1982 | 26 | 41 | - |
| 1981 | 27 | 41 | - |
| 1980 | 29 | 42 | - |
| 1979 | 29 | 40 | - |
| 1978 | 29 | 41 | - |
| 1977 | 28 | 40 | - |
| 1976 | 29 | 40 | - |
| 1975 | 30 | 41 | - |
| 1974 | 26 | 40 | - |
| 1973 | 28 | 42 | - |
| 1972 | 27 | 40 | - |
| 1971 | 26 | 37 | - |
| 1970 | 26 | 38 | - |
| 1969 | 25 | 30 | - |
| 1968 | 24 | 30 | - |
| 1967 | 25 | 30 | - |
| 1966 | 24 | 30 | - |
| 1965 | 24 | 29 | - |
| 1964 | 23 | 25 | - |
| 1963 | 21 | 22 | - |
| 1962 | 21 | 22 | - |
| 1961 | 21 | 21 | - |
| 1960 | 20 | 20 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/venezuela | CC BY
Compared with 2000, in 2024 Venezuela is ranked 65th out of 182 by GDP (down from 35th), 120th by GDP per capita (down from 61st), and 57th by GDP per capita PPP (down from 50th).
Economic indicators
Venezuela
|
Rank | |
|---|---|---|
| Gross domestic product |
$120B
2024 |
65/197 |
| GDP growth |
5.3%
2023-2024 |
32/194 |
| GDP per capita |
$4,218
2024 |
128/197 |
| GDP per capita, PPP |
$21,241
2011 |
93/197 |
| Government debt |
$197B
2024 |
42/185 |
| Debt-to-GDP ratio |
164.3%
2024 |
5/185 |
| Government debt per person |
$6,931
2024 |
69/185 |
| Average annual personal income after taxes |
$3,792
2026 |
129/197 |
| Listed domestic companies |
37
2014 |
77/103 |
| Market capitalization of domestic companies |
$3.98B
2002 |
82/100 |
| Number of billionaires |
1
2025 |
73/78 |
| Billionaire frequency |
1 in 18,421,146
2025 |
71/78 |
| Income share by richest 10% |
33.2%
2006 |
28/169 |
| Income share by poorest 10% |
1.2%
2006 |
165/169 |
| Government expenditure, % of GDP |
17.6%
2024 |
172/195 |
| Consumer prices inflation |
49%
2023-2024 |
7/195 |
| Central bank interest rate |
58.4%
2025 |
1/106 |
| Unemployment rate |
7.53%
2020 |
58/196 |
| Population |
28661242
|
53/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 17.6% | 164.3% | -3.6% |
| 2023 | 13.1% | 138.5% | -1.25% |
| 2022 | 15.1% | 164.4% | -5.29% |
| 2021 | 13.1% | 254.2% | -5.85% |
| 2020 | 11.2% | 337% | -6.63% |
| 2019 | 21% | 206% | -10.9% |
| 2018 | 37.9% | 175.3% | -31% |
| 2017 | 21.8% | 133.6% | -13.3% |
| 2016 | 19.7% | 138.4% | -8.46% |
| 2015 | 22.9% | 129.8% | -8.06% |
| 2014 | 31.6% | 84.9% | -9.81% |
| 2013 | 36.5% | 85.4% | -10.4% |
| 2012 | 38% | 58.4% | -9.86% |
| 2011 | 39.4% | 52.5% | -8.24% |
| 2010 | 31.1% | 37.7% | -4.74% |
| 2009 | 33.3% | 27.6% | -8.69% |
| 2008 | 34.9% | 20.3% | -3.46% |
| 2007 | 35.9% | 26.4% | -2.82% |
| 2006 | 39.3% | 25.7% | -1.6% |
| 2005 | 33.5% | 34.9% | 4.09% |
| 2004 | 31.9% | 41.8% | 2.47% |
| 2003 | 32.2% | 56% | 0.17% |
| 2002 | 31% | 48.2% | -1.48% |
| 2001 | 31.9% | 30.7% | -4.59% |
| 2000 | 28.3% | 27.7% | 4.45% |
| 1999 | 26.1% | 29.6% | 0.74% |
| 1998 | 28.8% | 30.7% | -4.49% |
| 1997 | 31% | 34.8% | 2.58% |
| 1996 | 27.7% | 45.9% | 7.94% |
| 1995 | 32.9% | 45.9% | -5.86% |
| 1994 | 42.2% | 63.9% | -11.2% |
| 1993 | 27.7% | 57.7% | -2.92% |
| 1992 | 30.6% | 54.8% | -6.37% |
| 1991 | 33.9% | 62.2% | -2.28% |
| 1990 | 31.9% | 63.3% | 3.84% |
| 1989 | 32.5% | 61.8% | -0.91% |
| 1988 | 33.2% | 46.3% | -9.24% |
| 1987 | 25.1% | 58.3% | -7.47% |
| 1986 | 21.5% | 45.9% | 0.82% |
| 1985 | 20.3% | 34.1% | 6.97% |
| 1984 | 19.7% | 36.4% | 5.33% |
| 1983 | 25.3% | 21.4% | 1.24% |
| 1982 | 29% | 18.6% | -0.17% |
| 1981 | 29.6% | 18.9% | 4.74% |
| 1980 | 22% | 16.6% | 4.41% |
| 1979 | 22.3% | 19.2% | -3.07% |
| 1978 | 29.2% | 16.6% | -5.44% |
| 1977 | 30.6% | 12.7% | -4.69% |
| 1976 | 26.6% | 9.64% | 1.65% |
| 1975 | 33.8% | 8.31% | 0.88% |
| 1974 | 35.3% | 7.72% | 2.76% |
| 1973 | 20% | 9.78% | 1.98% |
| 1972 | 21.3% | 10.6% | 0.42% |
| 1971 | 19.6% | 9.64% | 0.78% |
| 1970 | 19.5% | 10.6% | -1.22% |
| 1969 | 21% | 9.91% | -2.17% |
| 1968 | 19.8% | 7.84% | -0.32% |
| 1967 | 19.8% | 6.74% | 0.51% |
| 1966 | 19.1% | 5.84% | 0.23% |
| 1965 | 18.7% | 5.46% | 0.39% |
| 1964 | 17.9% | 4.95% | 1.91% |
| 1963 | 18.7% | 6.3% | 1.92% |
| 1962 | 17.6% | 7.24% | 2.14% |
| 1961 | 11.8% | 8.79% | -1.91% |
| 1960 | 23.7% | 8.28% | -4.08% |
| 1959 | 25.5% | 2.67% | -4.98% |
| 1958 | 24.4% | 1.96% | -4.86% |
| 1957 | 16.3% | 0.08% | 6.7% |
| 1956 | 15.2% | 0.11% | 0.76% |
| 1955 | 15.2% | 0.15% | 0.38% |
| 1954 | 14.8% | 0.19% | 1.84% |
| 1953 | 15.3% | 0.33% | 0.03% |
| 1952 | 18.8% | 0.05% | -0.5% |
| 1951 | 16.6% | 0.11% | -0.24% |
| 1950 | 16% | 0.12% | -0.23% |
| 1949 | 16.9% | 0.2% | 0.15% |
| 1948 | 12.9% | 0.21% | 1.27% |
| 1947 | 12.7% | 0.37% | 0.09% |
| 1946 | 12.9% | 0.53% | -0.9% |
| 1945 | 11.2% | 0.57% | 2.9% |
| 1944 | 9.93% | 0.7% | 1.85% |
| 1943 | 10.8% | 0.29% | -0.27% |
| 1942 | 12.5% | 0.04% | 0.2% |
| 1941 | 12.6% | 0.04% | 0.01% |
| 1940 | 14.2% | 0.11% | -1.07% |
| 1939 | 13.6% | 0.11% | -0.78% |
| 1938 | 12% | 0.11% | 0.68% |
| 1937 | 13% | 0.13% | 0.73% |
| 1936 | 13.2% | 0.15% | -0.52% |
| 1935 | 11.8% | 1.03% | -2.23% |
| 1934 | 9.93% | 1.21% | 1.34% |
| 1933 | 8.83% | 1.31% | 1.03% |
| 1932 | 8.2% | 1.24% | 0.51% |
| 1931 | 9.04% | 1.43% | 1.02% |
| 1930 | 10.5% | 2.05% | -2.03% |
| 1929 | 10.5% | 2.59% | -0.34% |
| 1928 | 11.6% | 3.63% | -0.68% |
| 1927 | 7.78% | 4.22% | 1.55% |
| 1926 | 8.62% | 4.4% | 0.14% |
| 1925 | 9.75% | 5.86% | 0.54% |
| 1924 | 8.59% | 7.85% | 0.37% |
| 1923 | 7.64% | 9.92% | 1.32% |
| 1922 | 7.09% | 11.9% | 1.57% |
| 1921 | 7.87% | 12.4% | -0.97% |
| 1920 | 8.58% | 11.3% | -1.75% |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1920–1997, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).
GeoRank.org/economy/venezuela | CC BY
This chart shows Venezuela's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, Venezuela recorded a fiscal deficit in 34 of them, with an average annual deficit equal to 3.43% of GDP. In 2024, government spending reached $21.1B (17.6% of GDP), with a deficit of 3.6%.
The national debt reached $197B, ranking 42nd out of 185 countries by total size, with a debt-to-GDP ratio of 164.3%, ranking 5th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 49% |
| 2023 | 338% |
| 2022 | 186.5% |
| 2021 | 1,589% |
| 2020 | 2,355% |
| 2019 | 19,906% |
| 2018 | 65,374% |
| 2017 | 438% |
| 2016 | 254.9% |
| 2015 | 121.7% |
| 2014 | 62.2% |
| 2013 | 40.6% |
| 2012 | 21.1% |
| 2011 | 26.1% |
| 2010 | 28.2% |
| 2009 | 26% |
| 2008 | 31.4% |
| 2007 | 18.7% |
| 2006 | 13.7% |
| 2005 | 16% |
| 2004 | 21.7% |
| 2003 | 31.1% |
| 2002 | 22.4% |
| 2001 | 12.5% |
| 2000 | 16.2% |
| 1999 | 23.6% |
| 1998 | 35.8% |
| 1997 | 50% |
| 1996 | 99.9% |
| 1995 | 59.9% |
| 1994 | 60.8% |
| 1993 | 38.1% |
| 1992 | 31.4% |
| 1991 | 34.2% |
| 1990 | 40.7% |
| 1989 | 84.5% |
| 1988 | 29.5% |
| 1987 | 28.1% |
| 1986 | 11.5% |
| 1985 | 11.4% |
| 1984 | 12.2% |
| 1983 | 6.2% |
| 1982 | 9.6% |
| 1981 | 16.2% |
| 1980 | 21.4% |
Data sources: International Monetary Fund (IMF) | World Economic Outlook (1980–2024, retrieved 2026-02-20).
GeoRank.org/economy/venezuela | CC BY
Over the past 20 years, Venezuela has had an average annual inflation rate of 4,545%. In 2024, inflation was 49%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Venezuela
|
Rank | |
|---|---|---|
|
Current account balance
|
-$3.87B
2016 |
161/190 |
| Current account balance, % of GDP |
-3.43%
2016 |
122/190 |
| Goods imports |
$16.3B
2016 |
86/189 |
| Goods exports |
$27.4B
2016 |
71/189 |
| Service imports |
$9.47B
2016 |
71/189 |
| Service exports |
$1.28B
2016 |
126/189 |
| Imports of goods and services, % of GDP |
9.22%
2024 |
180/181 |
| Exports of goods and services, % of GDP |
16.9%
2024 |
158/193 |
Venezuela top 10 trading partners
Venezuela's biggest trading partner accounting for 23.8% of all exports and imports is the United States, with a trade balance between the two of -$9.94B: Venezuela exports $550M worth of goods and services to the United States and imports $10.5B.
Below is the list of the top 10 trade partners of Venezuela.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$11B | 23.8% | $550M | $10.5B | Chemicals & pharma | Machinery & equipment |
| 2 |
China
|
$7.9B | 17.1% | $254M | $7.65B | Raw materials & minerals | Machinery & equipment |
| 3 |
Brazil
|
$4.68B | 10.1% | $173M | $4.5B | Raw materials & minerals | Animal & marine products |
| 4 |
Colombia
|
$2.49B | 5.38% | $236M | $2.26B | Chemicals & pharma | Animal & marine products |
| 5 |
Mexico
|
$2.27B | 4.91% | $42.1M | $2.23B | Metals | Chemicals & pharma |
| 6 |
Argentina
|
$1.95B | 4.2% | $34.3M | $1.91B | Raw materials & minerals | Animal & marine products |
| 7 |
Germany
|
$1.31B | 2.84% | $20M | $1.29B | Metals | Chemicals & pharma |
| 8 |
Italy
|
$1.18B | 2.55% | $34.9M | $1.14B | Metals | Machinery & equipment |
| 9 |
Spain
|
$1.06B | 2.28% | $38.1M | $1.02B | Raw materials & minerals | Machinery & equipment |
| 10 |
Ecuador
|
$1B | 2.16% | $13.6M | $988M | Metals | Processed food, beverages & tobacco |
Top 10 exports
|
Venezuela
|
Rank | |
|---|---|---|
| Raw materials & minerals | $86.5B | 13/193 |
| Chemicals & pharma | $738M | 77/193 |
| Transport & tourism services | $461M | 136/188 |
| Metals | $448M | 90/192 |
| Machinery & equipment | $182M | 116/193 |
| Animal & marine products | $39.1M | 128/192 |
| Business & finance services | $27.6M | 151/188 |
| Processed food, beverages & tobacco | $25.8M | 151/192 |
| Textiles & consumer goods | $20.3M | 140/193 |
| IT & IP services | $16.5M | 146/183 |
Top 10 imports
|
Venezuela
|
Rank | |
|---|---|---|
| Machinery & equipment | $14.9B | 58/193 |
| Chemicals & pharma | $8.09B | 49/193 |
| Metals | $4.02B | 55/193 |
| Animal & marine products | $3.73B | 29/193 |
| Transport & tourism services | $3.69B | 75/188 |
| Textiles & consumer goods | $3.49B | 59/193 |
| Processed food, beverages & tobacco | $3.47B | 57/193 |
| Raw agricultural goods | $2.57B | 49/193 |
| Raw materials & minerals | $2.13B | 117/193 |
| Miscellaneous | $1.47B | 32/193 |
Economic freedom indices
|
Venezuela
|
Rank | |
|---|---|---|
| Economic freedom | 27.3 | 194/197 |
| Property rights | 0 | 182/182 |
| Government integrity | 6.9 | 179/182 |
| Judicial effectiveness | 5.1 | 175/182 |
| Tax burden | 73.4 | 129/182 |
| Government spending | 93 | 12/180 |
| Fiscal health | 29.1 | 147/181 |
| Business freedom | 31.1 | 174/182 |
| Labor freedom | 35.5 | 175/182 |
| Monetary freedom | 0 | 179/180 |
| Trade freedom | 43.2 | 178/181 |
| Investment freedom | 0 | 181/181 |
| Financial freedom | 10 | 178/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 27.3 | 5.1 | 73.4 | 93 | 29.1 |
| 2025 | 27.6 | 4.1 | 75.9 | 93.8 | 29.1 |
| 2024 | 28.1 | 3.3 | 75.9 | 96.6 | 36.5 |
| 2023 | 25.8 | 6.5 | 74.8 | 95 | 12 |
| 2022 | 24.8 | 4.6 | 74.1 | 78.3 | 0 |
| 2021 | 24.7 | 15.4 | 71.1 | 61.5 | 0 |
| 2020 | 25.2 | 12.6 | 72.8 | 66.3 | 0 |
| 2019 | 25.9 | 13.1 | 74.7 | 58.1 | 17.6 |
| 2018 | 25.2 | 13.8 | 72.5 | 57.3 | 18.4 |
| 2017 | 27 | 10.3 | 72.5 | 51.5 | 15.2 |
| 2016 | 33.7 | - | 74.9 | 56.7 | - |
| 2015 | 34.3 | - | 75 | 52 | - |
| 2014 | 36.3 | - | 75.3 | 51.8 | - |
| 2013 | 36.1 | - | 75.6 | 50.6 | - |
| 2012 | 38.1 | - | 74.8 | 67.3 | - |
| 2011 | 37.6 | - | 75 | 65.3 | - |
| 2010 | 37.1 | - | 74 | 61.8 | - |
| 2009 | 39.9 | - | 70.6 | 69.3 | - |
| 2008 | 44.7 | - | 74.5 | 79.7 | - |
| 2007 | 47.9 | - | 75.6 | 79.9 | - |
| 2006 | 44.6 | - | 75.6 | 76.8 | - |
| 2005 | 45.2 | - | 75.8 | 80.2 | - |
| 2004 | 46.7 | - | 75.6 | 79.2 | - |
| 2003 | 54.8 | - | 75 | 86.3 | - |
| 2002 | 54.7 | - | 75 | 89.2 | - |
| 2001 | 54.6 | - | 75.5 | 88 | - |
| 2000 | 57.4 | - | 74 | 86.8 | - |
| 1999 | 56.1 | - | 75.1 | 77.1 | - |
| 1998 | 54 | - | 75.4 | 67.9 | - |
| 1997 | 52.8 | - | 75 | 47.1 | - |
| 1996 | 54.5 | - | 75.2 | 76.1 | - |
| 1995 | 59.8 | - | 80 | 76.1 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/venezuela | CC BY
Venezuela is ranked 172/174 for economic freedom with a score of 27.3, compared to 151/162 and a score of 44.6 in 2006.
Other economic metrics
|
Venezuela
|
Rank | |
|---|---|---|
| Services, % of GDP |
51.7%
2014 |
122/191 |
| Industry, % of GDP |
37.2%
2014 |
24/194 |
| Agriculture, forestry, and fishing, % of GDP |
5.03%
2014 |
108/193 |
|
GNI, Atlas method
|
$109B
2024 |
66/194 |
| GNI per capita, PPP |
$20,800
2011 |
89/191 |
| Total reserves including gold |
$9.79B
2017 |
77/177 |
|
Net foreign direct investment
|
-$27M
2016 |
59/189 |
|
Net inflows of foreign direct investment
|
$1.63B
2024 |
81/193 |
|
Net outflows of foreign direct investment
|
$2.6B
2024 |
41/193 |
| Poverty at national poverty lines |
33.1%
2015 |
54/176 |
|
Gross capital formation, % of GDP
|
4.9%
2024 |
175/178 |
Compare Venezuela vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/venezuela | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1920–1997, retrieved 2026-02-20)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2013–2020, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.