The Venezuelan economy contracted 1.5% in 2021, according to the IMF projections. source: Banco Central De Venezuela

GDP Annual Growth Rate in Venezuela averaged 1.62 percent from 1998 until 2017, reaching an all time high of 36.10 percent in the first quarter of 2004 and a record low of -26.70 percent in the first quarter of 2003. This page provides - Venezuela GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela GDP Annual Growth Rate - values, historical data and charts - was last updated on August of 2022.

GDP Annual Growth Rate in Venezuela is expected to reach 1.50 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Venezuela GDP Annual Growth Rate is projected to trend around 1.50 percent in 2023, according to our econometric models.

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Venezuela GDP Annual Growth Rate



Related Last Previous Unit Reference
GDP Growth Rate -23.70 4.30 percent Mar 2019
GDP Annual Growth Rate -1.50 -30.00 percent Dec 2021
Gross Fixed Capital Formation 347.00 539.00 VEF Million Mar 2019

Venezuela GDP Annual Growth Rate
The biggest sector of Venezuela´s economy is services. Financing, insurance, real estate and business services; communication, transport and warehousing; trade, repairs, restaurants and hotels; community, personal, household and government services account for 60 percent of the GDP. Manufacturing and mining create 16 percent of the wealth and oil exploitation 12.3 percent. Construction and water and electricity distribution account for the remaining 12 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -30.00 36.10 -35.00 1998 - 2021 percent Yearly