Gross Domestic Product — Value US$ in Venezuela (Bolivarian Republic of)
Venezuela (Bolivarian Republic of): Gross Domestic Product — Value US$ was 177,478 million USD in 2024. ◆ Volatile
Gross Domestic Product — Value US$ in Venezuela (Bolivarian Republic of), 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
The most recent figure for gross domestic product — value us$ in Venezuela (Bolivarian Republic of) is 177,478 million USD, measured in 2024.
Compared with earlier readings it is up 27.3% on the previous year and down 51.1% over ten years.
Over the whole period, gross domestic product — value us$ in Venezuela (Bolivarian Republic of) peaked at 393,806 million USD in 2010 and was at its lowest, 13,864 million USD, in 1970.
That places Venezuela (Bolivarian Republic of) 67th out of 236 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value US$ in Venezuela (Bolivarian Republic of), year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 13,864 million USD | — |
| 1971 | 15,227 million USD | +9.8% |
| 1972 | 16,744 million USD | +10.0% |
| 1973 | 20,000 million USD | +19.4% |
| 1974 | 30,465 million USD | +52.3% |
| 1975 | 32,093 million USD | +5.3% |
| 1976 | 36,744 million USD | +14.5% |
| 1977 | 42,326 million USD | +15.2% |
| 1978 | 46,046 million USD | +8.8% |
| 1979 | 56,512 million USD | +22.7% |
| 1980 | 69,070 million USD | +22.2% |
| 1981 | 77,674 million USD | +12.5% |
| 1982 | 79,302 million USD | +2.1% |
| 1983 | 79,070 million USD | -0.3% |
| 1984 | 58,005 million USD | -26.6% |
| 1985 | 60,000 million USD | +3.4% |
| 1986 | 58,516 million USD | -2.5% |
| 1987 | 46,483 million USD | -20.6% |
| 1988 | 58,276 million USD | +25.4% |
| 1989 | 41,451 million USD | -28.9% |
| 1990 | 47,045 million USD | +13.5% |
| 1991 | 51,720 million USD | +9.9% |
| 1992 | 58,464 million USD | +13.0% |
| 1993 | 58,101 million USD | -0.6% |
| 1994 | 57,164 million USD | -1.6% |
| 1995 | 74,892 million USD | +31.0% |
| 1996 | 68,257 million USD | -8.9% |
| 1997 | 85,837 million USD | +25.8% |
| 1998 | 91,337 million USD | +6.4% |
| 1999 | 97,974 million USD | +7.3% |
| 2000 | 117,147 million USD | +19.6% |
| 2001 | 122,912 million USD | +4.9% |
| 2002 | 92,889 million USD | -24.4% |
| 2003 | 83,529 million USD | -10.1% |
| 2004 | 112,451 million USD | +34.6% |
| 2005 | 145,514 million USD | +29.4% |
| 2006 | 183,477 million USD | +26.1% |
| 2007 | 230,364 million USD | +25.6% |
| 2008 | 315,600 million USD | +37.0% |
| 2009 | 329,419 million USD | +4.4% |
| 2010 | 393,806 million USD | +19.5% |
| 2011 | 316,483 million USD | -19.6% |
| 2012 | 381,286 million USD | +20.5% |
| 2013 | 371,338 million USD | -2.6% |
| 2014 | 363,090 million USD | -2.2% |
| 2015 | 343,661 million USD | -5.4% |
| 2016 | 287,808 million USD | -16.3% |
| 2017 | 247,051 million USD | -14.2% |
| 2018 | 203,127 million USD | -17.8% |
| 2019 | 149,256 million USD | -26.5% |
| 2020 | 105,879 million USD | -29.1% |
| 2021 | 111,816 million USD | +5.6% |
| 2022 | 129,374 million USD | +15.7% |
| 2023 | 139,395 million USD | +7.7% |
| 2024 | 177,478 million USD | +27.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31,002 million USD | 13,864 million USD | 56,512 million USD | 10 |
| 1980s | 62,785 million USD | 41,451 million USD | 79,302 million USD | 10 |
| 1990s | 69,079 million USD | 47,045 million USD | 97,974 million USD | 10 |
| 2000s | 173,330 million USD | 83,529 million USD | 329,419 million USD | 10 |
| 2010s | 305,691 million USD | 149,256 million USD | 393,806 million USD | 10 |
| 2020s | 132,788 million USD | 105,879 million USD | 177,478 million USD | 5 |
Countries ranked near Venezuela (Bolivarian Republic of)
More economy & growth data for Venezuela (Bolivarian Republic of)
- Gross Domestic Product — Value US$, annual growth rate 27.32 % change on previous year (2024)
- Gross Domestic Product — Value Standard Local Currency 1.97 million million SLC (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices, annual growth -35.55 % change on previous year (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 -50 % change on previous year (2024)
- Gross Fixed Capital Formation — Value US$, annual growth rate -17.94 % change on previous year (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, annual 5.01 % change on previous year (2024)
- Gross Domestic Product — Value US$, 2015 prices, annual growth rate -4.86 % change on previous year (2024)
- Gross Domestic Product — Value Standard Local Currency, 2015 prices -3.85 % change on previous year (2024)
- Gross Fixed Capital Formation Deflator — Value US$, 2015 prices 27.34 % change on previous year (2024)
- GDP Deflator — Value Standard Local Currency, 2015 prices, annual 71.24 % change on previous year (2024)
Frequently asked questions
- What is gross domestic product — value us$ in Venezuela (Bolivarian Republic of)?
- Gross domestic product — value us$ in Venezuela (Bolivarian Republic of) was 177,478 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$ recorded in Venezuela (Bolivarian Republic of)?
- The highest recorded value was 393,806 million USD in 2010.
- What is the lowest gross domestic product — value us$ recorded in Venezuela (Bolivarian Republic of)?
- The lowest recorded value was 13,864 million USD in 1970.
- How does Venezuela (Bolivarian Republic of) rank for gross domestic product — value us$?
- Venezuela (Bolivarian Republic of) ranks 67th out of 236 countries with data for 2024.
- Is gross domestic product — value us$ rising or falling in Venezuela (Bolivarian Republic of)?
- Over the last ten years it is down 51.1%. The long-run trend across the full record is volatile.
- Where does this Venezuela (Bolivarian Republic of) data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$. 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).