Venezuela GDP Annual Growth Rate  1998-2017 | Data | Chart | Calendar

The Venezuelan economy shrank 18.6 percent in 2016, following a 5.7 percent decrease in 2015, according to preliminary figures. It is the worst contraction since the first quarter of 2003 as the oil sector slumped 12.7 percent and the non-oil one fell 19.5 percent. GDP Annual Growth Rate in Venezuela averaged 1.84 percent from 1998 until 2016, reaching an all time high of 36.10 percent in the first quarter of 2004 and a record low of -26.70 percent in the first quarter of 2003.

Venezuela GDP Annual Growth Rate
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Venezuela GDP Last Previous Highest Lowest Unit
GDP Growth Rate 6.80 0.00 22.70 -15.30 percent [+]
GDP Annual Growth Rate -18.60 -7.10 36.10 -26.70 percent [+]
GDP 509.97 371.34 509.97 8.61 USD Billion [+]
Gross Fixed Capital Formation 3219.00 3225.00 7328.00 996.00 VEF Million [+]
GDP per capita 12793.78 13750.21 15581.43 9729.48 USD [+]
GDP per capita PPP 15602.89 16769.33 17913.00 11865.76 USD [+]



Venezuela GDP Annual Growth Rate Notes

The biggest sector of Venezuela´s economy is services. Financing, insurance, real estate and business services; communication, transport and warehousing; trade, repairs, restaurants and hotels; community, personal, household and government services account for 60 percent of the GDP. Manufacturing and mining create 16 percent of the wealth and oil exploitation 12.3 percent. Construction and water and electricity distribution account for the remaining 12 percent of GDP. This page provides - Venezuela GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-18.60 -7.10 36.10 -26.70 1998 - 2016 percent Quarterly
Constant 1997 prices



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