Venezuela has a GDP of $482B compared to $26.3B for Zambia, ranking 33/197 and 115/197 by economy size, respectively.
Venezuela has $410B in government debt (192.4% of GDP), compared to $30.3B (99% of GDP) in Zambia.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Venezuela
|
Zambia
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $7,663,938,303 | - | $698,739,721 | $3,745,698,444 |
| 1961 | $8,067,267,031 | - | $682,359,727 | $3,796,691,708 |
| 1962 | $8,814,309,884 | - | $679,279,729 | $3,702,122,212 |
| 1963 | $9,608,717,288 | - | $704,339,719 | $3,823,270,197 |
| 1964 | $8,192,413,793 | - | $822,639,671 | $4,290,246,254 |
| 1965 | $8,427,777,778 | - | $1,061,199,576 | $5,004,463,110 |
| 1966 | $8,781,333,333 | - | $1,238,999,505 | $4,725,699,011 |
| 1967 | $9,250,000,000 | - | $1,340,639,464 | $5,099,960,030 |
| 1968 | $10,034,444,444 | - | $1,573,739,371 | $5,163,624,360 |
| 1969 | $10,285,111,111 | - | $1,926,399,230 | $5,141,063,669 |
| 1970 | $11,561,111,111 | - | $1,788,779,285 | $5,387,686,297 |
| 1971 | $12,986,590,909 | - | $1,653,259,341 | $5,383,050,756 |
| 1972 | $13,977,727,273 | - | $1,872,416,680 | $5,878,768,641 |
| 1973 | $17,035,581,395 | - | $2,434,255,237 | $5,822,212,020 |
| 1974 | $26,100,930,233 | - | $2,910,981,262 | $6,196,473,040 |
| 1975 | $27,464,651,163 | - | $2,442,672,141 | $6,055,854,685 |
| 1976 | $31,419,534,884 | - | $2,742,859,263 | $6,432,587,907 |
| 1977 | $36,210,697,674 | - | $2,515,296,940 | $6,138,989,403 |
| 1978 | $39,316,279,070 | - | $2,811,032,473 | $6,172,984,907 |
| 1979 | $48,310,930,233 | - | $3,353,445,378 | $5,986,318,100 |
| 1980 | $59,116,511,628 | - | $3,884,530,854 | $6,168,040,111 |
| 1981 | $66,327,441,860 | - | $4,008,126,497 | $6,548,482,198 |
| 1982 | $67,736,744,186 | - | $3,871,117,093 | $6,364,287,628 |
| 1983 | $67,556,279,070 | - | $3,321,048,451 | $6,239,121,864 |
| 1984 | $59,867,743,468 | - | $2,719,518,933 | $6,218,106,324 |
| 1985 | $61,965,466,667 | - | $2,252,454,500 | $6,318,548,040 |
| 1986 | $60,516,123,711 | - | $1,664,413,508 | $6,364,287,628 |
| 1987 | $48,029,034,483 | - | $2,265,250,972 | $6,534,574,435 |
| 1988 | $60,226,413,793 | - | $3,728,878,149 | $6,944,994,654 |
| 1989 | $43,536,709,104 | - | $3,994,673,161 | $6,873,912,510 |
| 1990 | $48,606,952,195 | - | $3,288,381,797 | $6,840,844,039 |
| 1991 | $53,453,444,787 | - | $3,376,806,697 | $6,838,372,211 |
| 1992 | $60,416,519,620 | - | $3,182,810,841 | $6,720,005,310 |
| 1993 | $60,037,460,783 | - | $3,273,505,344 | $7,176,782,487 |
| 1994 | $58,418,666,667 | - | $3,656,806,166 | $6,557,753,280 |
| 1995 | $77,389,487,770 | - | $3,806,983,413 | $6,747,775,257 |
| 1996 | $70,543,211,119 | - | $3,597,220,962 | $7,167,388,798 |
| 1997 | $85,837,678,560 | - | $4,303,288,480 | $7,440,753,544 |
| 1998 | $91,336,763,255 | - | $3,537,741,942 | $7,412,051,124 |
| 1999 | $97,972,842,462 | - | $3,404,284,891 | $7,756,725,565 |
| 2000 | $117,146,466,003 | - | $3,600,632,111 | $8,059,030,210 |
| 2001 | $122,911,036,747 | - | $4,094,441,301 | $8,487,518,231 |
| 2002 | $92,893,587,734 | - | $4,193,850,445 | $8,869,967,014 |
| 2003 | $83,620,628,582 | - | $4,901,869,764 | $9,485,983,916 |
| 2004 | $112,451,400,425 | - | $6,221,110,219 | $10,153,075,785 |
| 2005 | $145,513,489,652 | - | $8,331,870,169 | $10,887,711,636 |
| 2006 | $183,477,522,124 | - | $12,756,858,899 | $11,748,243,096 |
| 2007 | $230,364,012,576 | - | $14,056,957,976 | $12,729,507,610 |
| 2008 | $315,953,388,511 | - | $17,910,858,638 | $13,719,086,270 |
| 2009 | $329,787,628,928 | - | $15,328,342,304 | $14,984,033,822 |
| 2010 | $393,192,354,511 | - | $20,265,559,484 | $16,527,123,088 |
| 2011 | $316,482,190,800 | - | $23,459,515,276 | $17,447,560,253 |
| 2012 | $381,286,237,848 | - | $25,503,060,420 | $18,773,117,889 |
| 2013 | $371,005,379,787 | - | $28,037,239,463 | $19,722,575,263 |
| 2014 | $482,359,318,768 | - | $27,141,023,558 | $20,648,211,567 |
| 2015 | - | - | $21,251,216,799 | $21,251,216,799 |
| 2016 | - | - | $20,958,412,538 | $22,049,221,308 |
| 2017 | - | - | $25,873,601,261 | $22,826,646,594 |
| 2018 | - | - | $26,311,507,274 | $23,747,586,257 |
| 2019 | - | - | $23,308,667,781 | $24,089,861,649 |
| 2020 | - | - | $18,137,764,931 | $23,418,945,737 |
| 2021 | - | - | $22,096,416,932 | $24,879,098,748 |
| 2022 | - | - | $29,163,782,140 | $26,175,604,214 |
| 2023 | - | - | $27,577,956,471 | $27,580,695,690 |
| 2024 | - | - | $26,325,775,287 | $28,695,824,119 |
Economic indicators
|
Venezuela
|
Zambia
|
|
|---|---|---|
| Gross domestic product |
$482B
2014 |
$26.3B
2024 |
| GDP rank |
33/197
2014 |
115/197
2024 |
| GDP growth |
30%
2013-2014 |
-4.54%
2023-2024 |
| GDP per capita |
$15,944
2014 |
$1,235
2024 |
| GDP per capita rank |
66/197
2014 |
169/197
2024 |
| GDP per capita, PPP |
$17,349
2011 |
$4,224
2024 |
| Government debt |
$410B
2014 |
$30.3B
2024 |
| Debt-to-GDP ratio |
192.4%
2025 |
99%
2025 |
| Government debt per person |
$13,536
2014 |
$1,420
2024 |
| Government debt per person rank |
44/185
2014 |
132/185
2024 |
| Average annual personal income after taxes |
$4,514
2025 |
$1,168
2025 |
| Market capitalization of domestic companies |
$3.98B
2002 |
$7.77B
2024 |
| Number of billionaires |
1
2025 |
n/a |
| Income share by richest 10% |
33.2%
2006 |
39.1%
2022 |
| Income share by poorest 10% |
1.2%
2006 |
1.5%
2022 |
| Government expenditure, % of GDP |
15.7%
2025 |
27.3%
2025 |
| Consumer prices inflation |
269.9%
2024-2025 |
14.2%
2024-2025 |
| Central bank interest rate | n/a |
14.5%
2025 |
| Unemployment rate |
7.53%
2020 |
5.86%
2023 |
| Population |
28610737
|
22402291
|
GDP per capita in Venezuela vs Zambia
Venezuela's GDP per capita is $15,944, ranking 66/197, compared to $1,235 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Venezuela ranks 106th at $17,349, while Zambia ranks 164th at $4,224.
| Year | Current $ | |||
|---|---|---|---|---|
|
Venezuela
|
Zambia
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $939 | - | $221.6 | - |
| 1961 | $954 | - | $209.7 | - |
| 1962 | $1,007 | - | $202.3 | - |
| 1963 | $1,060 | - | $203.2 | - |
| 1964 | $874 | - | $230 | - |
| 1965 | $869 | - | $287.4 | - |
| 1966 | $876 | - | $325 | - |
| 1967 | $893 | - | $341 | - |
| 1968 | $938 | - | $387 | - |
| 1969 | $932 | - | $459 | - |
| 1970 | $1,015 | - | $414 | - |
| 1971 | $1,106 | - | $372 | - |
| 1972 | $1,155 | - | $410 | - |
| 1973 | $1,367 | - | $518 | - |
| 1974 | $2,034 | - | $601 | - |
| 1975 | $2,078 | - | $490 | - |
| 1976 | $2,309 | - | $533 | - |
| 1977 | $2,585 | - | $474 | - |
| 1978 | $2,727 | - | $514 | - |
| 1979 | $3,257 | - | $595 | - |
| 1980 | $3,874 | - | $669 | - |
| 1981 | $4,228 | - | $670 | - |
| 1982 | $4,202 | - | $627 | - |
| 1983 | $4,079 | - | $520 | - |
| 1984 | $3,520 | - | $413 | - |
| 1985 | $3,549 | - | $332 | - |
| 1986 | $3,376 | - | $238.2 | - |
| 1987 | $2,611 | - | $315 | - |
| 1988 | $3,191 | - | $504 | - |
| 1989 | $2,250 | - | $526 | - |
| 1990 | $2,452 | $9,497 | $422 | $1,522 |
| 1991 | $2,633 | $10,520 | $423 | $1,534 |
| 1992 | $2,907 | $11,151 | $389 | $1,505 |
| 1993 | $2,825 | $11,191 | $391 | $1,607 |
| 1994 | $2,689 | $10,920 | $426 | $1,464 |
| 1995 | $3,487 | $11,345 | $433 | $1,501 |
| 1996 | $3,113 | $11,291 | $400 | $1,585 |
| 1997 | $3,711 | $11,970 | $466 | $1,631 |
| 1998 | $3,870 | $11,898 | $373 | $1,601 |
| 1999 | $4,071 | $11,127 | $350 | $1,654 |
| 2000 | $4,776 | $11,577 | $359 | $1,709 |
| 2001 | $4,920 | $12,018 | $397 | $1,785 |
| 2002 | $3,652 | $10,924 | $394 | $1,837 |
| 2003 | $3,230 | $10,095 | $446 | $1,942 |
| 2004 | $4,269 | $12,053 | $549 | $2,068 |
| 2005 | $5,432 | $13,486 | $711 | $2,213 |
| 2006 | $6,739 | $15,028 | $1,052 | $2,378 |
| 2007 | $8,332 | $16,528 | $1,119 | $2,555 |
| 2008 | $11,262 | $17,480 | $1,376 | $2,708 |
| 2009 | $11,597 | $16,795 | $1,136 | $2,872 |
| 2010 | $13,646 | $16,528 | $1,451 | $3,098 |
| 2011 | $10,844 | $17,349 | $1,625 | $3,228 |
| 2012 | $12,901 | - | $1,710 | $3,324 |
| 2013 | $12,403 | - | $1,821 | $3,477 |
| 2014 | $15,944 | - | $1,707 | $3,441 |
| 2015 | - | - | $1,296 | $3,337 |
| 2016 | - | - | $1,239 | $3,313 |
| 2017 | - | - | $1,483 | $3,392 |
| 2018 | - | - | $1,464 | $3,442 |
| 2019 | - | - | $1,259 | $3,361 |
| 2020 | - | - | $952 | $3,157 |
| 2021 | - | - | $1,127 | $3,503 |
| 2022 | - | - | $1,447 | $3,841 |
| 2023 | - | - | $1,331 | $4,077 |
| 2024 | - | - | $1,235 | $4,224 |
Spending and national debt comparison
In 2024, Venezuela's government spending was $152B, accounting for 15.7% of its GDP, while Zambia's spent $6.71B, or 27.3% of GDP.
Debt-to-GDP ratio is 192.4% in Venezuela and 99% in Zambia, ranking 4/185 and 25/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Venezuela
|
Zambia
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1960 | 23.7% | 8.28% | - | - |
| 1961 | 11.8% | 8.79% | - | - |
| 1962 | 17.6% | 7.24% | - | - |
| 1963 | 18.7% | 6.3% | - | - |
| 1964 | 17.9% | 4.95% | - | - |
| 1965 | 18.7% | 5.46% | - | - |
| 1966 | 19.1% | 5.84% | - | - |
| 1967 | 19.8% | 6.74% | - | - |
| 1968 | 19.8% | 7.84% | - | - |
| 1969 | 21% | 9.91% | - | - |
| 1970 | 19.5% | 10.6% | - | - |
| 1971 | 19.6% | 9.64% | - | - |
| 1972 | 21.3% | 10.6% | - | - |
| 1973 | 20% | 9.78% | - | - |
| 1974 | 35.3% | 7.72% | - | - |
| 1975 | 33.8% | 8.31% | - | - |
| 1976 | 26.6% | 9.64% | - | - |
| 1977 | 30.6% | 12.7% | - | - |
| 1978 | 29.2% | 16.6% | - | - |
| 1979 | 22.3% | 19.2% | - | - |
| 1980 | 22% | 16.6% | - | - |
| 1981 | 29.6% | 18.9% | - | - |
| 1982 | 29% | 18.6% | - | - |
| 1983 | 25.3% | 21.4% | - | - |
| 1984 | 19.7% | 36.4% | - | - |
| 1985 | 20.3% | 34.1% | - | - |
| 1986 | 21.5% | 45.9% | - | - |
| 1987 | 25.1% | 58.3% | - | - |
| 1988 | 33.2% | 46.3% | - | - |
| 1989 | 32.5% | 61.8% | - | - |
| 1990 | 31.9% | 63.3% | - | - |
| 1991 | 33.9% | 62.2% | - | - |
| 1992 | 30.6% | 54.8% | - | - |
| 1993 | 27.7% | 57.7% | - | - |
| 1994 | 42.2% | 63.9% | - | - |
| 1995 | 32.9% | 45.9% | - | - |
| 1996 | 27.7% | 45.9% | - | - |
| 1997 | 31% | 34.8% | - | - |
| 1998 | 28.8% | 30.7% | - | - |
| 1999 | 26.1% | 29.6% | - | - |
| 2000 | 28.3% | 27.7% | 21.4% | 261% |
| 2001 | 31.9% | 30.7% | 28% | 210.2% |
| 2002 | 31% | 48.2% | 27.6% | 180.2% |
| 2003 | 32.2% | 56% | 27.3% | 159.5% |
| 2004 | 31.9% | 41.8% | 23.3% | 129.9% |
| 2005 | 33.5% | 34.9% | 22.5% | 75.7% |
| 2006 | 39.3% | 25.7% | 19.7% | 25% |
| 2007 | 35.9% | 26.4% | 19.9% | 21.9% |
| 2008 | 34.9% | 20.3% | 19.5% | 19.2% |
| 2009 | 33.3% | 27.6% | 17.8% | 20.5% |
| 2010 | 31.1% | 37.7% | 18.1% | 18.9% |
| 2011 | 39.4% | 52.5% | 19.5% | 20.8% |
| 2012 | 38% | 58.4% | 21.9% | 24.9% |
| 2013 | 36.5% | 85.4% | 24% | 25.9% |
| 2014 | 31.6% | 84.9% | 24.3% | 33.9% |
| 2015 | 22.9% | 129.8% | 27.6% | 61.9% |
| 2016 | 19.7% | 138.4% | 23.9% | 61.2% |
| 2017 | 21.8% | 133.6% | 25% | 66.6% |
| 2018 | 37.9% | 175.3% | 27.7% | 81.2% |
| 2019 | 21% | 206% | 29.8% | 103.3% |
| 2020 | 11.2% | 337% | 34% | 140% |
| 2021 | 13.1% | 254.2% | 30.5% | 111% |
| 2022 | 15.1% | 164.4% | 28.2% | 99.5% |
| 2023 | 13.2% | 138.5% | 27.4% | 129.1% |
| 2024 | 17.6% | 164.3% | 25.5% | 114.9% |
| 2025 | 15.7% | 192.4% | 27.3% | 99% |
Government deficit by year
In 2014, Venezuela's government deficit, the difference between spending and revenue, was -$47.3B, equivalent to -9.81% of GDP. This compares to Zambia's deficit of -$1.47B, or -5.43% of GDP.
Over the past 15 years, Venezuela recorded a fiscal deficit in 11 of those years, while Zambia ran a deficit in 13 years. On average, Venezuela posted an annual deficit equal to -3.63% of GDP, compared to deficit of -1.7% of GDP for Zambia.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Venezuela
|
Zambia
|
|
| 1920 | -1.75% | - |
| 1921 | -0.97% | - |
| 1922 | 1.57% | - |
| 1923 | 1.32% | - |
| 1924 | 0.37% | - |
| 1925 | 0.54% | - |
| 1926 | 0.14% | - |
| 1927 | 1.55% | - |
| 1928 | -0.68% | - |
| 1929 | -0.34% | - |
| 1930 | -2.03% | - |
| 1931 | 1.02% | - |
| 1932 | 0.51% | - |
| 1933 | 1.03% | - |
| 1934 | 1.34% | - |
| 1935 | -2.23% | - |
| 1936 | -0.52% | - |
| 1937 | 0.73% | - |
| 1938 | 0.68% | - |
| 1939 | -0.78% | - |
| 1940 | -1.07% | - |
| 1941 | 0.01% | - |
| 1942 | 0.2% | - |
| 1943 | -0.27% | - |
| 1944 | 1.85% | - |
| 1945 | 2.9% | - |
| 1946 | -0.9% | - |
| 1947 | 0.09% | - |
| 1948 | 1.27% | - |
| 1949 | 0.15% | - |
| 1950 | -0.23% | - |
| 1951 | -0.24% | - |
| 1952 | -0.5% | - |
| 1953 | 0.03% | - |
| 1954 | 1.84% | - |
| 1955 | 0.38% | - |
| 1956 | 0.76% | - |
| 1957 | 6.7% | - |
| 1958 | -4.86% | - |
| 1959 | -4.98% | - |
| 1960 | -4.08% | - |
| 1961 | -1.91% | - |
| 1962 | 2.14% | - |
| 1963 | 1.92% | - |
| 1964 | 1.91% | - |
| 1965 | 0.39% | - |
| 1966 | 0.23% | - |
| 1967 | 0.51% | - |
| 1968 | -0.32% | - |
| 1969 | -2.17% | - |
| 1970 | -1.22% | - |
| 1971 | 0.78% | - |
| 1972 | 0.42% | - |
| 1973 | 1.98% | - |
| 1974 | 2.76% | - |
| 1975 | 0.88% | - |
| 1976 | 1.65% | - |
| 1977 | -4.69% | - |
| 1978 | -5.44% | - |
| 1979 | -3.07% | - |
| 1980 | 4.41% | - |
| 1981 | 4.74% | - |
| 1982 | -0.17% | - |
| 1983 | 1.24% | - |
| 1984 | 5.33% | - |
| 1985 | 6.97% | - |
| 1986 | 0.82% | - |
| 1987 | -7.47% | - |
| 1988 | -9.24% | - |
| 1989 | -0.91% | - |
| 1990 | 3.84% | - |
| 1991 | -2.28% | - |
| 1992 | -6.37% | - |
| 1993 | -2.92% | - |
| 1994 | -11.2% | - |
| 1995 | -5.86% | - |
| 1996 | 7.94% | - |
| 1997 | 2.58% | - |
| 1998 | -4.49% | - |
| 1999 | 0.74% | - |
| 2000 | 4.45% | 1.16% |
| 2001 | -4.59% | -5.89% |
| 2002 | -1.48% | -4.5% |
| 2003 | 0.17% | -5.31% |
| 2004 | 2.47% | -2.51% |
| 2005 | 4.09% | -2.37% |
| 2006 | -1.6% | 16.9% |
| 2007 | -2.82% | -1.04% |
| 2008 | -3.46% | -0.67% |
| 2009 | -8.69% | -2.06% |
| 2010 | -4.74% | -2.43% |
| 2011 | -8.24% | -1.78% |
| 2012 | -9.86% | -3.16% |
| 2013 | -10.4% | -6.4% |
| 2014 | -9.81% | -5.43% |
| 2015 | -8.06% | -8.88% |
| 2016 | -8.46% | -5.69% |
| 2017 | -13.3% | -7.5% |
| 2018 | -31% | -8.31% |
| 2019 | -10.9% | -9.41% |
| 2020 | -6.63% | -13.8% |
| 2021 | -5.85% | -8.13% |
| 2022 | -5.29% | -7.82% |
| 2023 | -1.21% | -5.48% |
| 2024 | -3.58% | -3.32% |
| 2025 | -5.51% | -4.92% |
Inflation comparison by year
Over the past 30 years, Venezuela has recorded an average annual inflation rate of 3,049%, compared with 15.2% in Zambia. In 2025, inflation was 269.9% in Venezuela and 14.2% in Zambia.
| Year | Inflation | ||
|---|---|---|---|
|
Venezuela
|
Zambia
|
Venezuela
|
Zambia
|
| 1996 | 99.9% | 38.6% | |
| 1997 | 50% | 21.4% | |
| 1998 | 35.8% | 22.7% | |
| 1999 | 23.6% | 23.9% | |
| 2000 | 16.2% | 24.1% | |
| 2001 | 12.5% | 21.4% | |
| 2002 | 22.4% | 22.2% | |
| 2003 | 31.1% | 21.4% | |
| 2004 | 21.7% | 18% | |
| 2005 | 16% | 18.3% | |
| 2006 | 13.7% | 9% | |
| 2007 | 18.7% | 10.7% | |
| 2008 | 31.4% | 12.4% | |
| 2009 | 26% | 13.4% | |
| 2010 | 28.2% | 8.5% | |
| 2011 | 26.1% | 8.7% | |
| 2012 | 21.1% | 6.6% | |
| 2013 | 40.6% | 7% | |
| 2014 | 62.2% | 7.8% | |
| 2015 | 121.7% | 10.1% | |
| 2016 | 254.9% | 17.9% | |
| 2017 | 438% | 6.6% | |
| 2018 | 65,374% | 7.5% | |
| 2019 | 19,906% | 9.2% | |
| 2020 | 2,355% | 15.7% | |
| 2021 | 1,589% | 22% | |
| 2022 | 186.5% | 11% | |
| 2023 | 338% | 10.9% | |
| 2024 | 49% | 15% | |
| 2025 | 269.9% | 14.2% | |
Balance of trade
|
Venezuela
|
Zambia
|
|
|---|---|---|
Current account balance
|
-$3.87B
2016 |
-$583M
2023 |
| Current account balance ranking |
158/189
2016 |
105/189
2023 |
| Current account balance, % of GDP |
+1.02%
2014 |
-2.11%
2023 |
| Goods imports |
$16.3B
2016 |
$9.15B
2023 |
| Goods exports |
$27.4B
2016 |
$10.5B
2023 |
| Service imports |
$9.47B
2016 |
$1.71B
2023 |
| Service exports |
$1.28B
2016 |
$933M
2023 |
| Imports of goods and services, % of GDP |
31.4%
2014 |
37.4%
2023 |
| Exports of goods and services, % of GDP |
16.7%
2014 |
40.8%
2023 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Venezuela
|
Zambia
|
|
|---|---|---|
| Economic freedom | 27.6 | 50.9 |
| Economic freedom ranking | 194/197 | 162/197 |
| Property rights | 0.7 | 45.8 |
| Government integrity | 6.7 | 36.7 |
| Judicial effectiveness | 4.1 | 45.3 |
| Tax burden | 75.9 | 74.7 |
| Government spending | 93.8 | 75 |
| Fiscal health | 29.1 | 0 |
| Business freedom | 32.5 | 45.9 |
| Labor freedom | 35.9 | 48.7 |
| Monetary freedom | 0 | 68.2 |
| Trade freedom | 42.2 | 65.8 |
| Investment freedom | 0 | 55 |
| Financial freedom | 10 | 50 |
Economic freedom by year comparison
The Economic Freedom Index for Venezuela is 27.6, ranking 194/197, compared to 50.9 for Zambia, ranking 162/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Venezuela
|
Zambia
|
|
| 1995 | 59.8 | 55.1 |
| 1996 | 54.5 | 59.6 |
| 1997 | 52.8 | 62.1 |
| 1998 | 54 | 62.7 |
| 1999 | 56.1 | 64.2 |
| 2000 | 57.4 | 62.8 |
| 2001 | 54.6 | 59.5 |
| 2002 | 54.7 | 59.6 |
| 2003 | 54.8 | 55.3 |
| 2004 | 46.7 | 54.9 |
| 2005 | 45.2 | 55 |
| 2006 | 44.6 | 56.8 |
| 2007 | 47.9 | 56.2 |
| 2008 | 44.7 | 56.2 |
| 2009 | 39.9 | 56.6 |
| 2010 | 37.1 | 58 |
| 2011 | 37.6 | 59.7 |
| 2012 | 38.1 | 58.3 |
| 2013 | 36.1 | 58.7 |
| 2014 | 36.3 | 60.4 |
| 2015 | 34.3 | 58.7 |
| 2016 | 33.7 | 58.8 |
| 2017 | 27 | 55.8 |
| 2018 | 25.2 | 54.3 |
| 2019 | 25.9 | 53.6 |
| 2020 | 25.2 | 53.5 |
| 2021 | 24.7 | 50.4 |
| 2022 | 24.8 | 48.7 |
| 2023 | 25.8 | 47.8 |
| 2024 | 28.1 | 48.4 |
| 2025 | 27.6 | 50.9 |
More economic indicators
|
Venezuela
|
Zambia
|
|
|---|---|---|
| Services, % of GDP |
51.7%
2014 |
55.1%
2024 |
| Industry, % of GDP |
37.2%
2014 |
37.5%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
5.03%
2014 |
1.8%
2024 |
|
GNI, Atlas method
|
$393B
2014 |
$27B
2024 |
| GNI per capita, PPP |
$16,910
2011 |
$3,950
2024 |
| Total reserves including gold |
$9.79B
2017 |
$4.09B
2024 |
| Total reserves ranking |
77/177
2017 |
106/177
2024 |
|
Net foreign direct investment
|
-$27M
2016 |
$31.1M
2023 |
|
Net inflows of foreign direct investment
|
$1.63B
2024 |
$1.24B
2024 |
|
Net outflows of foreign direct investment
|
$2.6B
2024 |
-$170M
2024 |
|
Servicing debt to the IMF, % of GNI
|
n/a |
3.61%
2023 |
| Poverty at national poverty lines |
33.1%
2015 |
60%
2022 |
|
Gross capital formation, % of GDP
|
24.8%
2014 |
31.4%
2023 |
GDP per capita map
GDP per capita
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Economy comparisons
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.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
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.