Gross Domestic Product — Annual growth Standard Local Currency in Venezuela (Bolivarian Republic of)
Venezuela (Bolivarian Republic of): Gross Domestic Product — Annual growth Standard Local Currency was 62.93 % in 2024. ◆ Volatile
Gross Domestic Product — Annual growth Standard Local Currency in Venezuela (Bolivarian Republic of), 1971–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
In 2024, gross domestic product — annual growth standard local currency in Venezuela (Bolivarian Republic of) stood at 62.93 %.
The figure is down 82.1% on the previous year and up 79.9% over ten years.
Over the whole period, gross domestic product — annual growth standard local currency in Venezuela (Bolivarian Republic of) peaked at 135,575 % in 2018 and was at its lowest, -0.2933 %, in 1983.
That places Venezuela (Bolivarian Republic of) 8th out of 231 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Annual growth Standard Local Currency in Venezuela (Bolivarian Republic of), year by year
| Year | % | Change |
|---|---|---|
| 1971 | 9.84 % | — |
| 1972 | 7.46 % | -24.1% |
| 1973 | 19.44 % | +160.6% |
| 1974 | 52.33 % | +169.1% |
| 1975 | 5.34 % | -89.8% |
| 1976 | 14.49 % | +171.2% |
| 1977 | 15.19 % | +4.8% |
| 1978 | 8.79 % | -42.1% |
| 1979 | 22.73 % | +158.5% |
| 1980 | 22.22 % | -2.2% |
| 1981 | 12.46 % | -43.9% |
| 1982 | 2.1 % | -83.2% |
| 1983 | -0.2933 % | -114.0% |
| 1984 | 19.71 % | -6819.7% |
| 1985 | 10.57 % | -46.4% |
| 1986 | 5.11 % | -51.6% |
| 1987 | 42.49 % | +731.4% |
| 1988 | 25.37 % | -40.3% |
| 1989 | 70.18 % | +176.6% |
| 1990 | 53.41 % | -23.9% |
| 1991 | 33.23 % | -37.8% |
| 1992 | 36.03 % | +8.4% |
| 1993 | 32.02 % | -11.1% |
| 1994 | 59.06 % | +84.5% |
| 1995 | 57.76 % | -2.2% |
| 1996 | 115.09 % | +99.3% |
| 1997 | 47.24 % | -59.0% |
| 1998 | 19.24 % | -59.3% |
| 1999 | 18.66 % | -3.0% |
| 2000 | 34.23 % | +83.4% |
| 2001 | 11.66 % | -65.9% |
| 2002 | 21.24 % | +82.1% |
| 2003 | 24.47 % | +15.2% |
| 2004 | 58.45 % | +138.9% |
| 2005 | 42.98 % | -26.5% |
| 2006 | 29.54 % | -31.3% |
| 2007 | 25.55 % | -13.5% |
| 2008 | 37 % | +44.8% |
| 2009 | 4.38 % | -88.2% |
| 2010 | 43.77 % | +899.6% |
| 2011 | 33.5 % | -23.5% |
| 2012 | 20.48 % | -38.9% |
| 2013 | 37.32 % | +82.3% |
| 2014 | 34.97 % | -6.3% |
| 2015 | 165.14 % | +372.2% |
| 2016 | 249.51 % | +51.1% |
| 2017 | 615.15 % | +146.5% |
| 2018 | 135,575 % | +21939.2% |
| 2019 | 15,254 % | -88.7% |
| 2020 | 1,324 % | -91.3% |
| 2021 | 1,216 % | -8.2% |
| 2022 | 241.23 % | -80.2% |
| 2023 | 351.72 % | +45.8% |
| 2024 | 62.93 % | -82.1% |
Biggest year-on-year movements
Years where Gross Domestic Product — Annual growth Standard Local Currency in Venezuela (Bolivarian Republic of) changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2018 | +21939.2% | 615.15 % | 135,575 % |
| 1984 | +6819.7% | -0.2933 % | 19.71 % |
| 2010 | +899.6% | 4.38 % | 43.77 % |
| 1987 | +731.4% | 5.11 % | 42.49 % |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 17.29 % | 5.34 % | 52.33 % | 9 |
| 1980s | 20.99 % | -0.2933 % | 70.18 % | 10 |
| 1990s | 47.17 % | 18.66 % | 115.09 % | 10 |
| 2000s | 28.95 % | 4.38 % | 58.45 % | 10 |
| 2010s | 15,203 % | 20.48 % | 135,575 % | 10 |
| 2020s | 639.33 % | 62.93 % | 1,324 % | 5 |
Countries ranked near Venezuela (Bolivarian Republic of)
More economy & growth data for Venezuela (Bolivarian Republic of)
- Gross Domestic Product — Value Standard Local Currency 1.97 million million SLC (2024)
- 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$, 2015 prices -35.55 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local -35.55 % (2024)
Frequently asked questions
- What is gross domestic product — annual growth standard local currency in Venezuela (Bolivarian Republic of)?
- Gross domestic product — annual growth standard local currency in Venezuela (Bolivarian Republic of) was 62.93 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — annual growth standard local currency recorded in Venezuela (Bolivarian Republic of)?
- The highest recorded value was 135,575 % in 2018.
- What is the lowest gross domestic product — annual growth standard local currency recorded in Venezuela (Bolivarian Republic of)?
- The lowest recorded value was -0.2933 % in 1983.
- How does Venezuela (Bolivarian Republic of) rank for gross domestic product — annual growth standard local currency?
- Venezuela (Bolivarian Republic of) ranks 8th out of 231 countries with data for 2024.
- Is gross domestic product — annual growth standard local currency rising or falling in Venezuela (Bolivarian Republic of)?
- Over the last ten years it is up 79.9%. The long-run trend across the full record is volatile.
- Where does this Venezuela (Bolivarian Republic of) data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Annual growth Standard Local Currency. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).