Venezuela - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Venezuela including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Venezuela economy.


Overview Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 7.30 30 30 30 25 20 percent
Inflation Rate 13379.00 5000 4000 3000 800 50 percent
Interest Rate 21.70 22 22.5 20 20 19 percent
Balance of Trade -782.00 -4501 -4702 -5000 248 -4900 USD Million
Government Debt to GDP 23.00 35 35 35 40 50 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Stock Market 29351.58
points
4137 3249 2552 2004 763
Currency 78651.56
49416 49416 49416 49416 49416
Government Bond 10y 10.43
percent
10.66 10.91 11.15 11.4 12.47
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Annual Growth Rate -13.20
percent
-14.5 -14.5 -14 -14 -13.5
GDP 344.33
USD Billion
400 400 400 500 604
Gross Fixed Capital Formation 3219.00
VEF Million
2752 2752 2777 2768 2042
GDP per capita 12793.78
USD
7000 6500 6500 6200 6000
GDP per capita PPP 15602.89
USD
10500 15332 10000 9500 9000
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 7.30
percent
30 30 30 25 20
Employed Persons 13089081.00
12000000 13011896 12000000 12994951 12400000
Unemployed Persons 1035238.00
1600000 1153974 1600000 1170268 1350000
Minimum Wages 1307646.00
VEF/Month
797510 797510 797510 850000 1000000
Population 31.43
Million
31.7 31.33 30.83 31.53 32.98
Employment Rate 92.67
percent
91.62 91.53 91.43 91.34 90.55
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 13379.00
percent
5000 4000 3000 800 50
Inflation Rate Mom 80.00
percent
70.5 50 50 140 45
Consumer Price Index CPI 2146.10
Index Points
109451 87990 3392984 19315 10178952
Core Consumer Prices 594.30
Index Points
1842 1486 1667 781 3967
Core Inflation Rate 60.30
percent
210 150 120 31.43 40
Food Inflation 315.00
percent
310 250 150 120 45
CPI Transportation 1995.10
Index Points
101750 81799 3154253 17956 9462759
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 21.70
percent
22 22.5 20 20 19
Money Supply M0 194287175.21
VEF Million
263583144 337441234 403692492 461517315 471248047
Money Supply M1 422459404.11
VEF Million
513290026 783692193 20200000 1416228493 70800000
Money Supply M2 423771713.05
VEF Million
502772907 750966119 1015318181 1296364465 4068802027
Money Supply M3 423771713.74
VEF Million
520021575 799015930 1111753530 1456971916 4814735481
Foreign Exchange Reserves 9924.00
USD Million
10025 10011 9830 9946 12100
Banks Balance Sheet 22835507059.00
VEF Thousand
62454856339 32255473944 45640301709 13393885220 60606340348
Deposit Interest Rate 15.10
percent
16 16 16 16.59 18
Central Bank Balance Sheet 27271857586.00
VEF Thousand
64213657734 96106041502 -41226506114 -73482079526 5030700293
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -782.00
USD Million
-4501 -4702 -5000 248 -4900
Exports 8483.00
USD Million
5000 4660 6700 9509 7500
Imports 9576.00
USD Million
9500 9362 11700 9262 12400
Current Account -5113.00
USD Million
828 1028 -2000 1321 -1550
Current Account to GDP -2.40
percent
-3.2 -3.2 -3.2 -3.8 -3.5
External Debt 28.00
USD Million
400 259 410 265 421
Gold Reserves 184.90
Tonnes
189 196 203 211 270
Crude Oil Production 1509.00
BBL/D/1K
1808 1878 2101 2042 2000
Terrorism Index 3.63
2.6 2.6 2.6 1.77 2.5
Foreign Direct Investment 12.00
USD Million
659 650 657 652 655
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 23.00
percent
35 35 35 40 50
Government Budget -20.00
percent of GDP
-17.36 -16.44 -15.52 -15.9 -17.14
Government Spending 2747.00
VEF Million
2349 2349 2370 2362 1742
Military Expenditure 260.70
USD Million
6362 6799 7236 8570 10273
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Industrial Production 0.81
percent
2.29 2.29 -0.57 2.29 0
Changes in Inventories 1477.00
VEF Million
434 830 886 611 676
Internet Speed 1827.10
KBps
1765 1754 1740 1730 1629
IP Addresses 2571911.00
IP
2515797 2505425 2495366 2485593 2395162
Steel Production 45.00
Thousand Tonnes
37.21 35.2 35.01 35 35
Competitiveness Index 3.23
Points
3.25 3.25 3.25 3.22 3.25
Competitiveness Rank 127.00
124 124 124 123 111
Ease of Doing Business 188.00
187 187 187 187 181
Corruption Index 18.00
Points
18 18 19 19 19
Corruption Rank 169.00
167 169 170 170 165
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 57.00
Index Points
55 53 48 50 51
Retail Sales Mom -2.22
percent
1.28 1.28 1.28 1.28 1.28
Retail Sales YoY 12.55
percent
8.8 8.79 8.79 8.78 8.78
Consumer Spending 10233.00
VEF Million
8749 8749 8827 8800 6490
Private Sector Credit 54502835906.00
VEF Thousand
78207825287 96392320000 6501587168 17429886382 14399087230
Gasoline Prices 8.71
USD/Liter
0.58 0.55 0.52 0.49 0.34
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 34.00
percent
34 34 34 34 34
Personal Income Tax Rate 34.00
percent
34 34 34 34 34
Sales Tax Rate 12.00
percent
12 12 12 12 12
Social Security Rate 24.50
percent
24.5 24.5 24.5 24 25
Social Security Rate For Companies 19.00
percent
19 19 19 18.82 19
Social Security Rate For Employees 5.50
percent
5.52 5.52 5.52 5.75 5.97
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 55.96
mm
218 256 131 52.26 168
Temperature 26.52
celsius
25.34 24.9 24.99 25.18 25.65