Venezuela GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Venezuela expanded 1.10 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Venezuela is reported by the Banco Central De Venezuela. From 1998 until 2013, Venezuela GDP Annual Growth Rate averaged 2.9 Percent reaching an all time high of 36.1 Percent in March of 2004 and a record low of -26.7 Percent in March of 2003. 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. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.10 2.60 36.10 -26.70 -0.40 | 2013/12 1998 - 2013 Percent Quarterly
Constant 1997 prices

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Venezuela GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
Gross Fixed Capital Formation 4681.00 2013-08-15 4759.00 7328.00 996.00 4483.96 2013-12-31 VEF Million [+]
GDP per capita 6406.87 2012-12-31 6163.97 7138.19 4322.64 6746.64 2014-06-30 USD [+]
GDP per capita PPP 11613.29 2012-12-31 11173.01 11799.43 7835.35 12242.81 2014-06-30 USD [+]
GDP Growth Rate 0.00 2013-09-30 1.70 22.70 -15.30 -0.28 2013-12-31 Percent [+]
GDP Annual Growth Rate 1.10 2013-09-30 2.60 36.10 -26.70 -0.40 2013-12-31 Percent [+]
GDP 382.42 2012-12-31 316.48 387.85 8.61 352.52 2014-06-30 USD Billion [+]
[+]


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Venezuela Core Consumer Prices at 594.30 Index Points  
Core Consumer Prices in Venezuela increased to 594.30 Index Points in December of 2013 from 582.30 Index Points in November of 2013. Core Consumer Prices in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Interest Rate at 15.59 Percent  
The benchmark interest rate in Venezuela was last recorded at 15.59 percent. Interest Rate in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Unemployment Rate at 7.20 Percent  
Unemployment Rate in Venezuela decreased to 7.20 percent in February of 2014 from 9.50 percent in January of 2014. Unemployment Rate in Venezuela is reported by the National Institute of Statistics, Venezuela.
Venezuela Balance of Trade at 10191.00 USD Million  
Venezuela recorded a trade surplus of 10191 USD Million in the third quarter of 2013. Balance of Trade in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Crude Oil Production at 2300.00 Thousands Barrels per Day  
Crude Oil Production in Venezuela remained unchanged at 2300 Thousands Barrels per Day in October of 2013 from 2300 Thousands Barrels per Day in September of 2013. Crude Oil Production in Venezuela is reported by the U.S. Energy Information Administration.
Venezuela Current Account at 4121.00 USD Million  
Venezuela recorded a Current Account surplus of 4121 USD Million in the third quarter of 2013. Current Account in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Exports at 22231.00 USD Million  
Exports in Venezuela decreased to 22231 USD Million in the third quarter of 2013 from 22386 USD Million in the second quarter of 2013. Exports in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Imports at -12040.00 USD Million  
Imports in Venezuela increased to -12040 USD Million in the third quarter of 2013 from -13257 USD Million in the second quarter of 2013. Imports in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Changes in Inventories at 1691.00 VEF Million  
Changes in Inventories in Venezuela decreased to 1691 VEF Million in the third quarter of 2013 from 1880 VEF Million in the second quarter of 2013. Changes in Inventories in Venezuela is reported by the Banco Central De Venezuela.
Venezuela Consumer Price Index (CPI) at 527.70 Index Points  
Consumer Price Index (CPI) in Venezuela increased to 527.70 Index Points in February of 2014 from 514.40 Index Points in January of 2014. Consumer Price Index (CPI) in Venezuela is reported by the Banco Central De Venezuela.
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