Current account balance in Venezuela, Bolivarian Republic of
Venezuela, Bolivarian Republic of: Current account balance was -3.4% in 2016. ◆ Volatile
Current account balance in Venezuela, Bolivarian Republic of, 1970–2016
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2016, current account balance in Venezuela, Bolivarian Republic of stood at -3.4%.
That represents a change of up 73.3% on the previous year and down 123.8% over ten years.
Over the whole period, current account balance in Venezuela, Bolivarian Republic of peaked at 22.1% in 1974 and was at its lowest, -14.6%, in 1978.
Venezuela, Bolivarian Republic of ranks 125th of 200 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Venezuela, Bolivarian Republic of, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | -0.9% | — |
| 1971 | -0.1% | -90.6% |
| 1972 | -0.7% | +753.1% |
| 1973 | 5.1% | -812.5% |
| 1974 | 22.1% | +328.7% |
| 1975 | 7.9% | -64.2% |
| 1976 | 0.8% | -89.8% |
| 1977 | -8.8% | -1186.0% |
| 1978 | -14.6% | +66.2% |
| 1979 | 0.7% | -105.0% |
| 1980 | 8.0% | +1003.9% |
| 1981 | 6.0% | -24.6% |
| 1982 | -6.3% | -203.9% |
| 1983 | 6.6% | -204.5% |
| 1984 | 7.8% | +18.6% |
| 1985 | 5.4% | -30.9% |
| 1986 | -3.7% | -169.1% |
| 1987 | -2.9% | -22.0% |
| 1988 | -9.6% | +233.3% |
| 1989 | 5.0% | -151.5% |
| 1990 | 17.0% | +243.1% |
| 1991 | 3.2% | -80.9% |
| 1992 | -6.2% | -291.1% |
| 1993 | -3.3% | -46.5% |
| 1994 | 4.3% | -231.0% |
| 1995 | 2.6% | -40.2% |
| 1996 | 12.6% | +385.6% |
| 1997 | 4.3% | -65.6% |
| 1998 | -4.9% | -211.6% |
| 1999 | 2.2% | -144.4% |
| 2000 | 10.1% | +369.4% |
| 2001 | 1.6% | -84.1% |
| 2002 | 8.2% | +407.0% |
| 2003 | 14.1% | +72.4% |
| 2004 | 13.8% | -2.2% |
| 2005 | 17.5% | +26.7% |
| 2006 | 14.4% | -17.5% |
| 2007 | 5.8% | -59.5% |
| 2008 | 9.9% | +69.5% |
| 2009 | 0.1% | -98.7% |
| 2010 | 1.4% | +991.9% |
| 2011 | 5.2% | +263.5% |
| 2012 | 0.7% | -86.5% |
| 2013 | 1.8% | +156.1% |
| 2014 | 2.3% | +28.6% |
| 2015 | -12.8% | -659.7% |
| 2016 | -3.4% | -73.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.2% | -14.6% | 22.1% | 10 |
| 1980s | 1.6% | -9.6% | 8.0% | 10 |
| 1990s | 3.2% | -6.2% | 17.0% | 10 |
| 2000s | 9.6% | 0.1% | 17.5% | 10 |
| 2010s | -0.7% | -12.8% | 5.2% | 7 |
Countries ranked near Venezuela, Bolivarian Republic of
- 122 Cameroon -3.3% compare
- 123 Philippines -3.3% compare
- 124 Latvia -3.4% compare
- 126 Iceland -3.5% compare
- 127 El Salvador -3.5% compare
- 128 New Zealand -3.6% compare
More economy & growth data for Venezuela, Bolivarian Republic of
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.36 Percent per annum (2025)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.19 Percent per annum (2025)
- Gross capital formation (current US$), annual growth rate 0.7182 % change on previous year (2025)
- Gross capital formation (current US$), per unit of GDP 0.0593 current US$ per US$ of GDP (2025)
- Gross capital formation (current US$), per capita 207.15 current US$ per person (2025)
- Gross capital formation (current LCU), annual growth rate 304.81 % change on previous year (2025)
- Gross capital formation (current LCU), per unit of GDP 9.81 current LCU per US$ of GDP (2025)
- Gross capital formation (current LCU), per capita 34,274 current LCU per person (2025)
- Gross capital formation (constant 2015 US$), annual growth rate -3.39 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.0284 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance in Venezuela, Bolivarian Republic of?
- Current account balance in Venezuela, Bolivarian Republic of was -3.4% in 2016, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Venezuela, Bolivarian Republic of?
- The highest recorded value was 22.1% in 1974.
- What is the lowest current account balance recorded in Venezuela, Bolivarian Republic of?
- The lowest recorded value was -14.6% in 1978.
- How does Venezuela, Bolivarian Republic of rank for current account balance?
- Venezuela, Bolivarian Republic of ranks 125th out of 200 countries with data for 2016.
- Is current account balance rising or falling in Venezuela, Bolivarian Republic of?
- Over the last ten years it is down 123.8%. The long-run trend across the full record is volatile.
- Where does this Venezuela, Bolivarian Republic of data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.