Total factor productivity in Venezuela
Venezuela: Total factor productivity was 2.95 in 2014. ▼ Falling
Total factor productivity in Venezuela, 1954–2014
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
Analysis
In 2014, total factor productivity in Venezuela stood at 2.95.
Compared with earlier readings it is down 5.2% on the previous year and down 0.3% over ten years.
Over the whole period, total factor productivity in Venezuela peaked at 7.5 in 1970 and was at its lowest, 2.61, in 2003.
Venezuela ranks 1st of 120 countries on this measure, in the top 10%.
The long-run direction has been consistently falling across the 61 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 5.86 | 5.52 | 6.11 | 6 |
| 1960s | 6.51 | 5.61 | 7.09 | 10 |
| 1970s | 6.42 | 5.16 | 7.5 | 10 |
| 1980s | 3.99 | 3.51 | 4.57 | 10 |
| 1990s | 3.6 | 3.16 | 3.92 | 10 |
| 2000s | 3.12 | 2.61 | 3.4 | 10 |
| 2010s | 3.07 | 2.95 | 3.17 | 5 |
Countries ranked near Venezuela
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 total factor productivity in Venezuela?
- Total factor productivity in Venezuela was 2.95 in 2014, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest total factor productivity recorded in Venezuela?
- The highest recorded value was 7.5 in 1970.
- What is the lowest total factor productivity recorded in Venezuela?
- The lowest recorded value was 2.61 in 2003.
- How does Venezuela rank for total factor productivity?
- Venezuela ranks 1st out of 120 countries with data for 2014.
- Is total factor productivity rising or falling in Venezuela?
- Over the last ten years it is down 0.3%. The long-run trend across the full record is falling.
- Where does this Venezuela data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Total factor productivity. Statizoid updates them automatically from the source API.
Download this data
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About this data
This is the level of total factor productivity, relative to each country's value in 2021 (which is set to 1). This data is adjusted for inflation and differences in living costs between countries.