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 Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 7.30 35 37 37 40 44 percent
Inflation Rate 833997.00 1000000 800000 250000 200000 4500 percent
Interest Rate 21.90 21 22 22 22 20 percent
Balance of Trade -782.00 -5000 -3050 -2950 -2940 -4900 USD Million
Government Debt to GDP 23.00 35 40 40 40 50 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Stock Market 569.13
points		 341310 304944 272475 243482 155195
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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate -13.20
percent		 -17.5 -14 -12.5 -10 -4
GDP 482.40
USD Billion		 400 280 280 280 300
Gross Fixed Capital Formation 3219.00
VEF Million		 2656 2768 2817 2897 2345
GDP per capita 13709.04
USD		 6500 6200 6200 6200 6000
GDP per capita PPP 16745.02
USD		 10000 9000 9000 9000 7500
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 7.30
percent		 35 37 37 40 44
Employed Persons 13089081.00
 1200000 1000000 1000000 1000000 750000
Unemployed Persons 1035238.00
 6500000 8000000 8500000 9000000 9500000
Minimum Wages 180000000.00
VEF/Month		 180000000 190000000 190000000 190000000 190000000
Population 31.43
Million		 31.74 31.95 31.95 31.95 32
Employment Rate 92.67
percent		 80 75 70 70 60
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 833997.00
percent		 1000000 800000 250000 200000 4500
Inflation Rate Mom 148.00
percent		 240 150 125 100 80
Consumer Price Index CPI 2146.10
Index Points		 8000 9000 9000 9000 9900
Core Consumer Prices 594.30
Index Points		 1307 1115 1116 2790 3112
Core Inflation Rate 60.30
percent		 120 87.65 87.73 87.79 40
Food Inflation 315.00
percent		 400000 200000 160000 140000 1000
CPI Transportation 1995.10
Index Points		 61848 17956 15961 285825196 185544
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 21.90
percent		 21 22 22 22 20
Money Supply M0 75728.81
VEF Million		 78959511 86175036 83655346 83319963 83420034
Money Supply M1 65523.23
VEF Million		 20200000 158798578 161276231 161726629 70800000
Money Supply M2 65821.31
VEF Million		 146247128 159954017 162442271 162893972 162994157
Money Supply M3 65821.31
VEF Million		 146102119 159799881 162287120 162738753 162838955
Foreign Exchange Reserves 8451.00
USD Million		 8400 8300 8300 8200 8100
Banks Balance Sheet 52286523885.00
VEF Thousand		 45640301709 28396519384 73093972406 21551157866 60606340348
Deposit Interest Rate 14.70
percent		 13.8 14.8 14.8 14.8 12.8
Central Bank Balance Sheet 2957639097.00
VEF Thousand		 5601367719 6343254134 5826070587 6021755188 5954327386
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -782.00
USD Million		 -5000 -3050 -2950 -2940 -4900
Exports 8483.00
USD Million		 4400 4350 4300 4360 4250
Imports 9576.00
USD Million		 8000 7400 7250 7300 7000
Current Account -5113.00
USD Million		 -8800 -8600 -8600 -8500 -8600
Current Account to GDP 2.00
percent		 2.1 2 2 2 2
External Debt 0.00
USD Million		 410 52.3 52.59 51.32 421
Gold Reserves 164.20
Tonnes		 174 172 175 173 174
Crude Oil Production 1434.00
BBL/D/1K		 1370 1300 1250 1180 1500
Terrorism Index 3.63
 3.9 4.2 4.2 4.2 4
Foreign Direct Investment -558.00
USD Million		 -2500 -2700 -2800 -2800 -3000
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 23.00
percent		 35 40 40 40 50
Government Budget -20.00
percent of GDP		 -30 -45 -45 -45 -40
Government Spending 2747.00
VEF Million		 2266 2362 2404 2472 2002
Military Expenditure 260.70
USD Million		 270 265 265 265 275
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production 0.81
percent		 -4 -6 -5.7 -6.5 -6.6
Changes in Inventories 1477.00
VEF Million		 -55.94 -17.01 821 450 380
Internet Speed 1827.10
KBps		 1825 1810 1831 1825 1823
IP Addresses 2571911.00
IP		 2576762 2577760 2577791 2577625 2577772
Steel Production 10.00
Thousand Tonnes		 27.97 30.17 30.32 30.33 30.33
Competitiveness Index 43.17
Points		 44.17 44.17 44.17 44.17 49.17
Competitiveness Rank 127.00
 127 127 127 127 127
Ease of Doing Business 188.00
 189 185 185 185 188
Corruption Index 18.00
Points		 18 18 18 18 18
Corruption Rank 169.00
 169 169 169 169 169
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 67.00
Index Points		 48 45 45 44 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		 8442 8800 8954 9210 7456
Private Sector Credit 19664362238.00
VEF Thousand		 6501587168 18425399053 22158683741 2800000000 31338296035
Gasoline Prices 0.00
USD/Liter		 0 0 0 0 0
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 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 Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 55.96
mm		 131 52.26 166 165 168
Temperature 26.52
celsius		 24.99 25.18 26.6 26.59 25.65



Venezuela - Economic Forecasts - 2018-2020 Outlook