The Gross Domestic Product (GDP) in Venezuela contracted 5.40 percent in the third quarter of 2018 over the previous quarter. GDP Growth Rate in Venezuela averaged 0.14 percent from 1997 until 2018, reaching an all time high of 26.20 percent in the second quarter of 2003 and a record low of -24.40 percent in the first quarter of 2003.
GDP Growth Rate in Venezuela is expected to be -6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Venezuela to stand at -16.00 in 12 months time. In the long-term, the Venezuela GDP Growth Rate is projected to trend around -14.00 percent in 2020, according to our econometric models.