Browse a full set of economic indicators


Includes historical data for the Venezuela’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Economy Devastated By Government Mismanagement

Venezuela is home to some of the world’s largest proven oil reserves, along with significant quantities of coal, iron and gold. Once a leading global oil exporter, Venezuela’s economy suffered due to poor economic management under the governments of presidents Hugo Chávez and Nicolás Maduro.

Today, Venezuela faces significant challenges, including hyperinflation, widespread shortages of goods, pervasive corruption, and high crime rates. Unprecedented levels of unemployment, poverty and inequality have driven millions of Venezuelans to seek opportunities abroad. Entrepreneurial activities are hindered by extensive government control, legal framework deficiencies, and inconsistent enforcement of regulations. Additionally, the economy remains undiversified, and the allocation of oil revenues lacks transparency and strategic planning.

Macroeconomy & Sovereign Data

Type of Government Federal presidential republic
Capital Caracas
Sovereign Ratings S&P: Rating withdrawn
Moody’s: Rating withdrawn
Fitch: Rating withdrawn
Total Population 24.5 million
Median Age 28.4
Adult Per Capita Income (PPP) 13,036.25
Total GDP (2023) 102.3 billion

Venezuela GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 11.2 billion (2023)
Leading Exports Crude Petroleum
Refined Petroleum
Industrial Alcohols
Total Imports USD 9.1 billion (2022)
Leading Imports Refined Petroleum
Soybean Meal
Source: World Integrated Trade Solution

Venezuela Leading Companies

Banco Nacional de Venezuela (BNV) Financials
Banco Provincial Financials
Petróleos de Venezuela (PDVSA) Oil & Gas Exploration & Production
Siderúrgica del Orinoco (SIDOR) Metals & Mining, Iron & Steel Producers
Compañía Anónima Nacional Teléfonos de Venezuela Telecommunication Services
Corporación Eléctrica Nacional Utilities
Empresas Polar Conglomerates, Consumer Staples Distribution & Retail

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000