Gross national expenditure (constant LCU) in Venezuela

The Gross national expenditure (constant LCU) in Venezuela was last reported at 69332713000.00 in 2010, according to a World Bank report released in 2011. The Gross national expenditure (constant LCU) in Venezuela was 69655050000.00 in 2009, according to a World Bank report, published in 2010. The Gross national expenditure (constant LCU) in Venezuela was reported at 75450886000.00 in 2008, according to the World Bank. Gross national expenditure (formerly domestic absorption) is the sum of household final consumption expenditure (formerly private consumption), general government final consumption expenditure (formerly general government consumption), and gross capital formation (formerly gross domestic investment). Data are in constant local currency.This page includes a historical data chart, news and forecasts for Gross national expenditure (constant LCU) in Venezuela. Venezuela is the fifth largest national economy in Latin America. Venezuela is highly dependent on oil revenues, which account for roughly 90% of export earnings, about 50% of the federal budget revenues, and around 30% of GDP. In recent years, President Hugo Chavez has been systematically increasing the government's control of the economy by nationalizing firms in the cement, steel, petroleum, communications, and electricity sectors.

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