Venezuela | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Venezuela including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Venezuela economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 6.80 0.4 -0.2 -1.2 -1.5 -1.5 percent [+]
Unemployment Rate 7.30 9.5 10 12 13 13.6 percent [+]
Inflation Rate 741.00 1000 1300 1600 1700 700 percent [+]
Interest Rate 21.78 22.5 22.5 22.5 25 25.75 percent [+]
Balance of Trade -782.00 -3540 -1133 -2880 -1502 -2160 USD Million [+]
Government Debt to GDP 49.80 47.44 48.69 49.95 49.28 40.85 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Stock Market 56429.94 43400 43000 41700 42100 35100 points [+]
Currency 9.99 10.09 10.19 10.49 10.39 11.99 [+]
Government Bond 10y 10.43 10.53 10.64 10.74 10.85 12.52 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 6.80 0.4 -0.2 -1.2 -1.5 -1.5 percent [+]
GDP Annual Growth Rate -18.60 -5 -4 -3.5 -3.7 -3 percent [+]
GDP 509.97 440 440 440 468 604 USD Billion [+]
Gross Fixed Capital Formation 3219.00 2480 3237 4000 3241 4780 VEF Million [+]
GDP per capita 12793.78 10000 10000 10000 12791 14000 USD [+]
GDP per capita PPP 15602.89 14000 14000 14000 15166 17100 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 7.30 9.5 10 12 13 13.6 percent [+]
Employed Persons 13089081.00 13106046 13106046 13106046 13106046 13106046 [+]
Unemployed Persons 1035238.00 1019017 1018926 1018943 1018942 1018942 [+]
Wages 1881.49 2031 2140 2249 2356 5060 VEF/Month [+]
Minimum Wages 104358.00 138848 159108 179048 198673 395153 VEF/Month [+]
Population 31.03 30.83 30.93 31.03 31.03 32.71 Million [+]
Employment Rate 92.67 92.78 92.78 92.78 92.78 92.78 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 741.00 1000 1300 1600 1700 700 percent [+]
Inflation Rate Mom 8.70 9.69 9.69 7.6 9.69 3 percent [+]
Consumer Price Index CPI 2146.10 4587 4947 5293 5400 8400 Index Points [+]
Core Consumer Prices 594.30 1116 1144 1171 1198 1432 Index Points [+]
Core Inflation Rate 60.30 120 86.65 70 87.12 25 percent [+]
Food Inflation 315.00 350 568 190 615 50 percent [+]
Cpi Transportation 1995.10 4928 5320 5681 6012 7597 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 21.78 22.5 22.5 22.5 25 25.75 percent [+]
Money Supply M0 6865477.21 9403251 11125863 12707612 14160018 24088231 VEF Million [+]
Money Supply M1 12316553.00 15990756 18571493 10000000 23318101 70800000 VEF Million [+]
Money Supply M2 12460875.59 16211344 18870299 21404225 23819003 43946676 VEF Million [+]
Money Supply M3 12460876.29 16211311 18870218 21404079 23818774 43944888 VEF Million [+]
Foreign Exchange Reserves 10402.00 7560 10760 12400 10743 12100 USD Million [+]
Banks Balance Sheet 15169233474.00 19145113678 21801814216 24199520493 26365453252 40006764025 VEF Thousand [+]
Deposit Interest Rate 15.10 14.8 14.94 14.5 14.99 12 percent [+]
Central Bank Balance Sheet 11545912411.78 14706020467 17028084254 19309784917 21551824067 43785460760 VEF Thousand [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -782.00 -3540 -1133 -2880 -1502 -2160 USD Million [+]
Exports 8483.00 8938 8818 9230 8864 11200 USD Million [+]
Imports 9576.00 10100 9490 10138 9153 13400 USD Million [+]
Current Account -5113.00 -1170 -3909 -1900 -4036 -1550 USD Million [+]
Current Account to GDP 1.40 -3 4.52 -4.3 4.46 -3.5 percent [+]
External Debt 518.00 387 407 400 402 401 USD Million [+]
Remittances 836.00 818 825 832 832 833 USD Million [+]
Gold Reserves 187.46 194 194 194 194 194 Tonnes [+]
Crude Oil Production 2235.00 2294 2293 2290 2291 2291 BBL/D/1K [+]
Foreign Direct Investment 12.00 917 916 920 914 915 USD Million [+]
Terrorism Index 2.00 2.41 2.49 2.58 2.43 1.35 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 49.80 47.44 48.69 49.95 49.28 40.85 percent [+]
Government Budget -11.50 -9.54 -10.62 -11.7 -11.56 -10.72 percent of GDP [+]
Government Spending 2747.00 3110 2751 3109 2752 3104 VEF Million [+]
Military Expenditure 2032.40 3602 3510 3419 3944 3884 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 0.81 1.57 1.57 1.57 1.57 1.57 percent [+]
Changes in Inventories 1477.00 1159 1412 -277 -34.74 268 VEF Million [+]
Steel Production 50.00 52.43 52.45 52.46 52.46 52.46 Thousand Tonnes [+]
Competitiveness Index 3.27 3.29 3.29 3.29 3.24 3.22 Points [+]
Competitiveness Rank 130.00 133 133 133 129 129 [+]
Ease of Doing Business 187.00 187 188 189 189 189 [+]
Corruption Index 17.00 17 17 18 18 17 Points [+]
Corruption Rank 166.00 161 162 164 165 166 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 57.00 57.9 58.01 57.91 57.78 57.77 [+]
Retail Sales Mom -2.22 1.27 1.27 1.27 1.27 1.27 percent [+]
Retail Sales YoY 12.55 12.7 12.7 12.7 12.7 12.7 percent [+]
Consumer Spending 10233.00 10247 10247 10247 10247 10247 VEF Million [+]
Private Sector Credit 6052997535.00 8725025098 10032560657 11313752339 11313752339 24243634853 VEF Thousand [+]
Gasoline Prices 0.60 0.6 0.6 0.6 0.6 0.6 USD/Liter [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 34.00 34 34 34 34 34 percent [+]
Personal Income Tax Rate 34.00 34 34 34 34 34 percent [+]
Sales Tax Rate 12.00 12 12 12 12 12 percent [+]
Social Security Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate For Companies 19.00 19 19 19 19 19 percent [+]
Social Security Rate For Employees 6.00 6 6 6 6 6 percent [+]