Net errors and omissions in Venezuela
Venezuela: Net errors and omissions was -2.79 billion BoP, current US$ in 2016. ◆ Volatile
Net errors and omissions in Venezuela, 1970–2016
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for net errors and omissions in Venezuela is -2.79 billion BoP, current US$, measured in 2016.
Compared with earlier readings it is down 24.1% on the previous year and down 26.4% over ten years.
Over the whole period, net errors and omissions in Venezuela peaked at 3.09 billion BoP, current US$ in 1988 and was at its lowest, -3.73 billion BoP, current US$, in 2010.
Venezuela ranks 175th of 197 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 632.00 million BoP, current US$ | -475.00 million BoP, current US$ | 2.29 billion BoP, current US$ | 10 |
| 1980s | -446.80 million BoP, current US$ | -2.38 billion BoP, current US$ | 3.09 billion BoP, current US$ | 10 |
| 1990s | -969.00 million BoP, current US$ | -1.76 billion BoP, current US$ | -281.00 million BoP, current US$ | 10 |
| 2000s | -2.39 billion BoP, current US$ | -3.60 billion BoP, current US$ | -790.00 million BoP, current US$ | 10 |
| 2010s | -2.72 billion BoP, current US$ | -3.73 billion BoP, current US$ | -1.48 billion BoP, current US$ | 7 |
Countries ranked near Venezuela
- 172 Lithuania -2.12 billion BoP, current US$ compare
- 173 Myanmar -2.49 billion BoP, current US$ compare
- 174 Indonesia -2.66 billion BoP, current US$ compare
- 176 Ecuador -2.81 billion BoP, current US$ compare
- 177 Uzbekistan -3.52 billion BoP, current US$ compare
- 178 Panama -3.54 billion BoP, current US$ compare
More economy & growth data for Venezuela
- External balance on goods and services as a percent of GDP 4.8% (2025)
- Inflation of consumer prices 254.9% (2016)
- GDP per capita 1,519 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 0.0% (2011)
- Gross domestic product (GDP) 43.31 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 1,519 constant 2015 US$ (2025)
- DEC alternative conversion factor 165.46 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 996.97 billion current LCU (2025)
- Net secondary income (Net current transfers from abroad) 6.03 billion current US$ (2025)
- Taxes less subsidies on products 0 current LCU (2011)
Frequently asked questions
- What is net errors and omissions in Venezuela?
- Net errors and omissions in Venezuela was -2.79 billion BoP, current US$ in 2016, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Venezuela?
- The highest recorded value was 3.09 billion BoP, current US$ in 1988.
- What is the lowest net errors and omissions recorded in Venezuela?
- The lowest recorded value was -3.73 billion BoP, current US$ in 2010.
- How does Venezuela rank for net errors and omissions?
- Venezuela ranks 175th out of 197 countries with data for 2016.
- Is net errors and omissions rising or falling in Venezuela?
- Over the last ten years it is down 26.4%. The long-run trend across the full record is volatile.
- Where does this Venezuela data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.