Annual GDP growth in Venezuela (Bolivarian Republic of)
Venezuela (Bolivarian Republic of): Annual GDP growth was 5.3% in 2024. ◆ Volatile
Annual GDP growth in Venezuela (Bolivarian Republic of), 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, annual gdp growth in Venezuela (Bolivarian Republic of) stood at 5.3%.
Compared with earlier readings it is up 32.4% on the previous year and up 236.1% over ten years.
Over the whole period, annual gdp growth in Venezuela (Bolivarian Republic of) peaked at 18.3% in 2004 and was at its lowest, -30.0%, in 2020.
That places Venezuela (Bolivarian Republic of) 39th out of 228 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Venezuela (Bolivarian Republic of), year by year
| Year | % | Change |
|---|---|---|
| 2000 | 3.7% | — |
| 2001 | 3.4% | -7.9% |
| 2002 | -8.9% | -360.9% |
| 2003 | -7.8% | -12.4% |
| 2004 | 18.3% | -335.8% |
| 2005 | 10.3% | -43.6% |
| 2006 | 9.9% | -4.3% |
| 2007 | 8.8% | -11.3% |
| 2008 | 5.3% | -39.7% |
| 2009 | -3.2% | -160.7% |
| 2010 | -1.5% | -53.5% |
| 2011 | 4.2% | -380.5% |
| 2012 | 5.6% | +34.7% |
| 2013 | 1.3% | -76.1% |
| 2014 | -3.9% | -390.0% |
| 2015 | -6.2% | +59.8% |
| 2016 | -17.0% | +173.9% |
| 2017 | -15.7% | -8.0% |
| 2018 | -19.7% | +25.4% |
| 2019 | -27.7% | +40.7% |
| 2020 | -30.0% | +8.5% |
| 2021 | 1.0% | -103.2% |
| 2022 | 8.0% | +737.4% |
| 2023 | 4.0% | -50.0% |
| 2024 | 5.3% | +32.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.0% | -8.9% | 18.3% | 10 |
| 2010s | -8.0% | -27.7% | 5.6% | 10 |
| 2020s | -2.3% | -30.0% | 8.0% | 5 |
Countries ranked near Venezuela (Bolivarian Republic of)
More economy & growth data for Venezuela (Bolivarian Republic of)
- Gross Fixed Capital Formation — Share of GDP US$, 2015 prices 4.86 % (2024)
- Gross Domestic Product — Annual growth US$ per capita, 2015 prices -5.21 % (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency 161,016 million SLC (2024)
- Gross Fixed Capital Formation — Value US$ 14,501 million USD (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 0 million SLC (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices 5,131 million USD (2024)
- Gross Fixed Capital Formation — Share of GDP US$ 8.17 % (2024)
- Gross Fixed Capital Formation — Annual growth US$ -17.94 % (2024)
- Gross Fixed Capital Formation — Annual growth US$, 2015 prices -35.55 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local Currency 5.01 % (2024)
Frequently asked questions
- What is annual gdp growth in Venezuela (Bolivarian Republic of)?
- Annual gdp growth in Venezuela (Bolivarian Republic of) was 5.3% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual gdp growth recorded in Venezuela (Bolivarian Republic of)?
- The highest recorded value was 18.3% in 2004.
- What is the lowest annual gdp growth recorded in Venezuela (Bolivarian Republic of)?
- The lowest recorded value was -30.0% in 2020.
- How does Venezuela (Bolivarian Republic of) rank for annual gdp growth?
- Venezuela (Bolivarian Republic of) ranks 39th out of 228 countries with data for 2024.
- Is annual gdp growth rising or falling in Venezuela (Bolivarian Republic of)?
- Over the last ten years it is up 236.1%. The long-run trend across the full record is volatile.
- Where does this Venezuela (Bolivarian Republic of) data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual GDP growth (%). Statizoid updates them automatically from the source API.
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