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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 7.30 30 30 40 40 36 percent
Inflation Rate 200000.00 400000 600000 300000 250000 4500 percent
Interest Rate 20.56 21 21 22 22 20 percent
Balance of Trade -782.00 -3540 -3600 -3050 -2950 -2750 USD Million
Government Debt to GDP 23.00 35 35 40 40 50 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Stock Market 308679.88
points		 317530 284381 254705 228114 146769
Currency 248520.90
 248521 248521 248521 248521 248521
Government Bond 10y 10.43
percent		 10.43 10.43 10.43 10.43 10.43
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Annual Growth Rate -13.20
percent		 -16 -17.5 -19 -19 -17
GDP 482.40
USD Billion		 400 400 280 280 300
Gross Fixed Capital Formation 3219.00
VEF Million		 2704 2656 2607 2607 1763
GDP per capita 13709.04
USD		 6500 6500 6200 6200 6000
GDP per capita PPP 16745.02
USD		 10000 10000 9000 9000 7500
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 7.30
percent		 30 30 40 40 36
Employed Persons 13089081.00
 1200000 1200000 1000000 1000000 1000000
Unemployed Persons 1035238.00
 5000000 6500000 8000000 8500000 9500000
Minimum Wages 180000000.00
VEF/Month		 180000000 180000000 190000000 190000000 190000000
Population 31.43
Million		 31.74 31.74 31.95 31.95 32
Employment Rate 92.67
percent		 80 80 75 75 70
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 200000.00
percent		 400000 600000 300000 250000 4500
Inflation Rate Mom 200.00
percent		 220 240 150 125 80
Consumer Price Index CPI 2146.10
Index Points		 8000 8000 9000 9000 9900
Core Consumer Prices 594.30
Index Points		 1486 1307 1115 1116 3112
Core Inflation Rate 60.30
percent		 150 120 87.65 87.73 40
Food Inflation 315.00
percent		 250 250 370 370 420
CPI Transportation 1995.10
Index Points		 81799 61848 17956 15961 185544
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 20.56
percent		 21 21 22 22 20
Money Supply M0 20050.42
VEF Million		 1905897395 2771182687 3604352147 4405976252 10925275795
Money Supply M1 36188.13
VEF Million		 1245982864 20200000 1238466545 1234725547 70800000
Money Supply M2 36277.11
VEF Million		 3370630399 4863238569 6260157449 7567174002 16796784465
Money Supply M3 36277.11
VEF Million		 3370630354 4863238481 6260157326 7567173851 16796784293
Foreign Exchange Reserves 8343.00
USD Million		 8500 8400 8300 8300 8100
Banks Balance Sheet 22835507059.00
VEF Thousand		 26141945667 45640301709 26146509781 26146540043 60606340348
Deposit Interest Rate 14.70
percent		 14.89 14.89 15.89 15.89 13.89
Central Bank Balance Sheet 110328931.56
VEF Thousand		 19052157829 24403089157 22887950131 20245694057 20177802912
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -782.00
USD Million		 -3540 -3600 -3050 -2950 -2750
Exports 8483.00
USD Million		 4660 4400 4350 4300 4250
Imports 9576.00
USD Million		 8200 8000 7400 7250 7000
Current Account -5113.00
USD Million		 -9000 -8800 -8600 -8600 -8600
Current Account to GDP 2.00
percent		 2.1 2.1 2 2 2
External Debt 0.00
USD Million		 247 410 248 250 421
Gold Reserves 150.00
Tonnes		 135 134 131 133 132
Crude Oil Production 1448.00
BBL/D/1K		 1500 1370 1400 1450 1700
Terrorism Index 3.63
 3.9 3.9 4.2 4.2 4
Foreign Direct Investment -558.00
USD Million		 -2000 -2500 -2700 -2800 -3000
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 23.00
percent		 35 35 40 40 50
Government Budget -20.00
percent of GDP		 -30 -30 -45 -45 -40
Government Spending 2747.00
VEF Million		 2307 2266 2225 2225 1505
Military Expenditure 260.70
USD Million		 270 270 265 265 275
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Industrial Production 0.81
percent		 -4 -4 -6 -5.7 -6.6
Changes in Inventories 1477.00
VEF Million		 300 -55.94 -17.01 821 380
Internet Speed 1827.10
KBps		 1836 1825 1810 1831 1823
IP Addresses 2571911.00
IP		 2579064 2576762 2577760 2577791 2577772
Steel Production 60.00
Thousand Tonnes		 50.02 47.42 47.18 47.16 47.16
Competitiveness Index 3.23
Points		 3.23 3.23 3.16 3.16 3
Competitiveness Rank 127.00
 127 127 124 124 122
Ease of Doing Business 188.00
 187 187 185 185 185
Corruption Index 18.00
Points		 18 18 16 16 17
Corruption Rank 169.00
 170 170 173 173 174
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 67.00
Index Points		 53 48 45 45 42
Retail Sales Mom -2.22
percent		 1.27 1.27 1.27 1.27 1.27
Retail Sales YoY 12.55
percent		 12.7 12.7 12.7 12.7 12.7
Consumer Spending 10233.00
VEF Million		 8596 8442 8289 8289 5606
Private Sector Credit 54502835906.00
VEF Thousand		 96392320000 6501587168 17429886382 27633793615 14399087230
Gasoline Prices 0.00
USD/Liter		 0 0 0 0 0
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 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 24.5 24.5
Social Security Rate For Companies 19.00
percent		 19 19 19 19 19
Social Security Rate For Employees 5.50
percent		 5.5 5.5 5.5 5.5 5.5
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 55.96
mm		 256 131 52.26 166 168
Temperature 26.52
celsius		 24.9 24.99 25.18 26.6 25.65