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By 2023, the economic situation of Venezuela improved, with the economy growing by 15% and extreme poverty rates decreasing, thanks to a liberalized economy and more access to the United States dollar. However, inequality is high, with wealthy Venezuelans making more than 70 times the poorest ones. [44]
Choose a region: Venezuela. With 102 billion U.S. dollars, Venezuela ranks 10th in the largest economies of Latin America. Nonetheless, if the course of the economy remained constant since its ...
After years of a roller-coaster economy, Venezuela has settled into a new, disorienting normality fueled by U.S. dollars. But the survey also found that the wealthiest Venezuelans were 70 times...
GDP (current US$) - Venezuela, RB. World Bank national accounts data, and OECD National Accounts data files. License : CC BY-4.0. LineBarMap. Also Show Share Details.
The Venezuelan economy is based primarily on the production and exploitation of petroleum. From the late 1940s to 1970 the country was the world’s largest petroleum exporter, and it was long one of the principal exporters of oil to the United States.
Background. Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830, the others being Ecuador and New Granada (Colombia). For most of the first half of the 20th century, military strongmen ruled Venezuela and promoted the oil industry while allowing some social reforms.
Want to get insight on the economic outlook for Venezuela in the coming years? FocusEconomics collects projections out to 2034 on 47 economic indicators for Venezuela from a panel of 20 analysts at the leading national, regional and global forecast institutions.
Venezuela, RB Global Economic Prospects examines trends for the world economy and how they affect developing countries. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets.
Access Venezuela’s economy facts, statistics, project information, development research from experts and latest news. Latest news and information from the World Bank and its development work in Venezuela.
Venezuela gdp for 2012 was $381.29B, a 20.48% increase from 2011. Venezuela gdp for 2011 was $316.48B, a 19.51% decline from 2010. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.