Venezuela GDP Annual Growth Rate  1998-2016 | Data | Chart | Calendar

The Venezuelan economy shrank 5.7 percent in 2015, according to central bank data, worse than a 5 percent contraction announced earlier by President Nicolas Maduro at a summit of the Latin American and Caribbean bloc CELAC held in Quito on January 27th. Private sector activities contracted 8.4 percent while public sector increased 1.1 percent. The oil sector declined 0.9 percent while non-oil output slumped 5.6 percent), namely construction (-23.8 percent), wholesale and retail trade (-11.8 percent), transportation (-6.9 percent), manufacturing (-6.8 percent) and mining (-3.6 percent). The country has been in a deep recession in the last 2 years mostly due to sharp drop in oil prices and inefficient state-led economic model. In 2014, the economy contracted 3.9 percent. GDP Annual Growth Rate in Venezuela averaged 2.28 percent from 1998 until 2015, 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. GDP Annual Growth Rate in Venezuela is reported by the Banco Central De Venezuela.

Venezuela GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-7.10 -4.00 36.10 -26.70 1998 - 2015 percent Quarterly
Constant 1997 prices
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 August of 2016.


Venezuela GDP Last Previous Highest Lowest Unit
GDP Growth Rate 6.80 0.00 22.70 -15.30 percent [+]
GDP Annual Growth Rate -7.10 -4.00 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 [+]




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Ethiopia 9.60 Dec/15
Ivory Coast 9.40 Mar/16
Papua New Guinea 9.00 Dec/15
Palestine 8.00 Mar/16
India 7.90 Mar/16
Uzbekistan 7.80 Jun/16
Congo 7.70 Dec/15
Rwanda 7.30 Mar/16
Monaco 7.20 Dec/14
Bangladesh 7.05 Dec/16
Laos 7.00 Dec/15
Myanmar 7.00 Dec/15
Philippines 7.00 Jun/16
Cambodia 6.90 Dec/15
China 6.70 Jun/16
Djibouti 6.70 Dec/15
Tajikistan 6.50 Mar/16
Turkmenistan 6.50 Dec/15
Senegal 6.40 Mar/16
Dominican Republic 6.10 Mar/16
Burkina Faso 6.00 Mar/16
Romania 6.00 Jun/16
Kenya 5.90 Mar/16
Cape Verde 5.80 Mar/16
Togo 5.80 Mar/16
Benin 5.70 Mar/16
Chad 5.60 Dec/15
Vietnam 5.55 Jun/16
Bhutan 5.50 Dec/15
Sri Lanka 5.50 Mar/16
Tanzania 5.50 Mar/16
Mali 5.40 Mar/16
Sao Tome and Principe 5.30 Dec/15
Malta 5.20 Mar/16
Indonesia 5.18 Jun/16
Zambia 5.00 Dec/15
Bolivia 4.95 Mar/16
Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Mar/16
Guinea Bissau 4.90 Mar/16
Niger 4.90 Dec/15
Sudan 4.90 Dec/15
Costa Rica 4.80 Mar/16
Turkey 4.80 Mar/16
Gambia 4.70 Dec/15
Panama 4.60 Mar/16
Bahrain 4.50 Mar/16
Armenia 4.40 Mar/16
Luxembourg 4.40 Mar/16
Cuba 4.30 Dec/15
East Timor 4.30 Dec/15
Seychelles 4.30 Dec/15
Pakistan 4.24 Dec/15
Fiji 4.20 Dec/15
Gabon 4.20 Dec/15
Iceland 4.20 Mar/16
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Malaysia 4.00 Jun/16
Algeria 3.90 Dec/15
United Arab Emirates 3.90 Dec/15
Egypt 3.80 Dec/15
Kosovo 3.80 Mar/16
Mauritius 3.70 Mar/16
Mozambique 3.70 Jun/16
Peru 3.70 Jun/16
Slovakia 3.70 Jun/16
Brunei 3.60 Mar/16
Honduras 3.60 Dec/15
Namibia 3.50 Mar/16
Thailand 3.50 Jun/16
Lesotho 3.40 Dec/15
Comoros 3.20 Dec/15
South Korea 3.20 Jun/16
Spain 3.20 Jun/16
Australia 3.10 Mar/16
Germany 3.10 Jun/16
Mauritania 3.10 Dec/15
Poland 3.10 Jun/16
Sweden 3.10 Jun/16
Albania 3.00 Mar/16
Bulgaria 3.00 Jun/16
Guyana 3.00 Dec/15
Madagascar 3.00 Dec/15
Israel 2.90 Jun/16
Malawi 2.90 Dec/15
Maldives 2.90 Dec/15
Botswana 2.80 Mar/16
Guatemala 2.80 Mar/16
New Zealand 2.80 Mar/16
Croatia 2.70 Mar/16
Cyprus 2.70 Jun/16
Cameroon 2.60 Dec/15
El Salvador 2.60 Dec/15
Georgia 2.60 Mar/16
Hungary 2.60 Jun/16
Somalia 2.60 Dec/14
Colombia 2.50 Mar/16
Czech Republic 2.50 Jun/16
Mexico 2.50 Jun/16
Slovenia 2.50 Mar/16
Iraq 2.40 Dec/15
Ireland 2.30 Mar/16
Jordan 2.30 Mar/16
Netherlands 2.30 Jun/16
United Kingdom 2.20 Jun/16
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Mar/16
Latvia 2.10 Jun/16
Singapore 2.10 Jun/16
Cayman Islands 2.00 Dec/15
Macedonia 2.00 Mar/16
European Union 1.80 Jun/16
Kuwait 1.80 Dec/15
Lithuania 1.80 Jun/16
Serbia 1.80 Jun/16
Haiti 1.70 Dec/15
Hong Kong 1.70 Jun/16
Swaziland 1.70 Dec/15
Euro Area 1.60 Jun/16
Chile 1.50 Jun/16
Paraguay 1.50 Mar/16
Saudi Arabia 1.50 Mar/16
Suriname 1.50 Dec/15
Zimbabwe 1.50 Dec/15
Belgium 1.40 Jun/16
France 1.40 Jun/16
Mongolia 1.40 Jun/16
Morocco 1.40 Jun/16
Tunisia 1.40 Jun/16
Finland 1.30 Jun/16
New Caledonia 1.30 Dec/14
Ukraine 1.30 Jun/16
Austria 1.20 Jun/16
Bahamas 1.20 Dec/15
Republic of the Congo 1.20 Dec/15
United States 1.20 Jun/16
Canada 1.10 Mar/16
Montenegro 1.10 Mar/16
Qatar 1.10 Mar/16
Lebanon 1.00 Dec/15
Barbados 0.90 Dec/15
Jamaica 0.80 Mar/16
Moldova 0.80 Mar/16
Portugal 0.80 Jun/16
Nepal 0.77 Dec/15
Italy 0.70 Jun/16
Norway 0.70 Mar/16
Switzerland 0.70 Mar/16
Taiwan 0.70 Jun/16
Estonia 0.60 Jun/16
Iran 0.60 Mar/15
Argentina 0.49 Mar/16
Denmark 0.30 Mar/16
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
Guinea 0.10 Dec/15
Japan 0.10 Mar/16
Kazakhstan 0.10 Jun/16
Greece -0.10 Jun/16
South Africa -0.20 Mar/16
Nigeria -0.40 Mar/16
Uruguay -0.50 Mar/16
Puerto Rico -0.60 Dec/15
Russia -0.60 Jun/16
Liechtenstein -0.80 Dec/14
North Korea -1.10 Dec/15
Uganda -1.30 Mar/16
Belize -1.96 Mar/16
Kyrgyzstan -2.30 Jun/16
Syria -2.30 Dec/11
Trinidad and Tobago -2.30 Dec/15
Ecuador -3.00 Mar/16
Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
Burundi -4.10 Dec/15
South Sudan -5.30 Dec/15
Brazil -5.40 Mar/16
Libya -6.00 Dec/15
Venezuela -7.10 Sep/15
Equatorial Guinea -10.60 Dec/15
Macau -13.30 Mar/16
Oman -14.10 Dec/15
Sierra Leone -21.50 Dec/15
Yemen -28.10 Dec/15