[ Nominal GDP in billions of USD ]
Year -
$119.80 billions
Venezuela GDP expanded from 1960 to 2024, increasing from $7.66 billion to $119.80 billion.The compound annual growth rate (CAGR) averaged 4.39% over the period. The economy recorded its peak level in 2010 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 89.1%, indicating the largest cyclical decline from peak levels. The country experienced 10 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2011 |
| Latest GDP | $ 119.80 Billions | $ 619.94 Int Billions |
| Growth (YoY) | 17.021% | 6.326% |
| Net Change vs Previous Year | $ 17.43 Billion | $ 36.88 Int Billion |
| % of World GDP | 0.11% | 0.64% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | 7.66 | - | - | - | - | - |
| 1961 | 8.07 | 0.4 | 5.263 % | - | - | - |
| 1962 | 8.81 | 0.75 | 9.26 % | - | - | - |
| 1963 | 9.61 | 0.79 | 9.013 % | - | - | - |
| 1964 | 8.19 | -1.42 | -14.74 % | - | - | - |
| 1965 | 8.43 | 0.24 | 2.873 % | - | - | - |
| 1966 | 8.78 | 0.35 | 4.195 % | - | - | - |
| 1967 | 9.25 | 0.47 | 5.337 % | - | - | - |
| 1968 | 10.03 | 0.78 | 8.48 % | - | - | - |
| 1969 | 10.29 | 0.25 | 2.498 % | - | - | - |
| 1970 | 11.56 | 1.28 | 12.406 % | - | - | - |
| 1971 | 12.99 | 1.43 | 12.33 % | - | - | - |
| 1972 | 13.98 | 0.99 | 7.632 % | - | - | - |
| 1973 | 17.04 | 3.06 | 21.877 % | - | - | - |
| 1974 | 26.1 | 9.07 | 53.214 % | - | - | - |
| 1975 | 27.46 | 1.36 | 5.225 % | - | - | - |
| 1976 | 31.42 | 3.95 | 14.4 % | - | - | - |
| 1977 | 36.21 | 4.79 | 15.249 % | - | - | - |
| 1978 | 39.32 | 3.11 | 8.576 % | - | - | - |
| 1979 | 48.31 | 8.99 | 22.878 % | - | - | - |
| 1980 | 59.12 | 10.81 | 22.367 % | - | - | - |
| 1981 | 66.33 | 7.21 | 12.198 % | - | - | - |
| 1982 | 67.74 | 1.41 | 2.125 % | - | - | - |
| 1983 | 67.56 | -0.18 | -0.266 % | - | - | - |
| 1984 | 59.87 | -7.69 | -11.381 % | - | - | - |
| 1985 | 61.97 | 2.1 | 3.504 % | - | - | - |
| 1986 | 60.52 | -1.45 | -2.339 % | - | - | - |
| 1987 | 48.03 | -12.49 | -20.634 % | - | - | - |
| 1988 | 60.23 | 12.2 | 25.396 % | - | - | - |
| 1989 | 43.54 | -16.69 | -27.712 % | - | - | - |
| 1990 | 48.61 | 5.07 | 11.646 % | 230.55 | - | - |
| 1991 | 53.45 | 4.85 | 9.971 % | 261.54 | 30.99 | 13.441 % |
| 1992 | 60.42 | 6.96 | 13.026 % | 283.71 | 22.17 | 8.477 % |
| 1993 | 60.04 | -0.38 | -0.627 % | 291.23 | 7.52 | 2.652 % |
| 1994 | 58.42 | -1.62 | -2.696 % | 290.46 | -0.77 | -0.264 % |
| 1995 | 77.39 | 18.97 | 32.474 % | 308.27 | 17.81 | 6.131 % |
| 1996 | 70.54 | -6.85 | -8.847 % | 313.29 | 5.02 | 1.629 % |
| 1997 | 85.84 | 15.29 | 21.681 % | 339 | 25.71 | 8.205 % |
| 1998 | 91.34 | 5.5 | 6.406 % | 343.82 | 4.82 | 1.421 % |
| 1999 | 97.97 | 6.64 | 7.266 % | 327.86 | -15.95 | -4.64 % |
| 2000 | 117.15 | 19.17 | 19.57 % | 347.65 | 19.79 | 6.035 % |
| 2001 | 122.91 | 5.77 | 4.921 % | 367.55 | 19.89 | 5.722 % |
| 2002 | 92.89 | -30.02 | -24.422 % | 340.2 | -27.34 | -7.439 % |
| 2003 | 83.62 | -9.27 | -9.982 % | 320.02 | -20.19 | -5.934 % |
| 2004 | 112.45 | 28.83 | 34.478 % | 388.72 | 68.7 | 21.468 % |
| 2005 | 145.51 | 33.06 | 29.401 % | 442.27 | 53.55 | 13.777 % |
| 2006 | 183.48 | 37.97 | 26.09 % | 500.91 | 58.65 | 13.261 % |
| 2007 | 230.36 | 46.89 | 25.554 % | 559.52 | 58.61 | 11.7 % |
| 2008 | 315.95 | 85.59 | 37.154 % | 600.4 | 40.88 | 7.306 % |
| 2009 | 329.79 | 13.84 | 4.379 % | 584.76 | -15.64 | -2.605 % |
| 2010 | 393.19 | 63.4 | 19.226 % | 583.05 | -1.71 | -0.292 % |
| 2011 | 316.48 | -76.71 | -19.51 % | 619.94 | 36.88 | 6.326 % |
| 2012 | 372.59 | 56.11 | 17.729 % | - | - | - |
| 2013 | 258.93 | -113.66 | -30.505 % | - | - | - |
| 2014 | 214.69 | -44.24 | -17.086 % | - | - | - |
| 2015 | 125.45 | -89.24 | -41.567 % | - | - | - |
| 2016 | 112.92 | -12.53 | -9.991 % | - | - | - |
| 2017 | 115.88 | 2.97 | 2.629 % | - | - | - |
| 2018 | 102.02 | -13.86 | -11.962 % | - | - | - |
| 2019 | 73.01 | -29.01 | -28.432 % | - | - | - |
| 2020 | 42.84 | -30.18 | -41.329 % | - | - | - |
| 2021 | 56.61 | 13.78 | 32.161 % | - | - | - |
| 2022 | 89.01 | 32.4 | 57.226 % | - | - | - |
| 2023 | 102.38 | 13.36 | 15.013 % | - | - | - |
| 2024 | 119.8 | 17.43 | 17.021 % | - | - | - |
Between 1960 to 2024, Venezuela experienced the following economic phases:
The most remarkable growth occurred in 2022 with an increase of 57.226%, while the largest decline was in 2015 at -41.567%.