Photographer: Ronaldo Schemidt/AFP/Getty Images. Venezuela surpassed Saudi Arabia for the first time in proven oil reserves, in a ranking published by OPEC after the organization started including heavy grades of oil from the Orinoco region. The Trading Economics Application Programming Interface (API) provides direct access to our data. Not Seasonally Adjusted, Exchange Rate to U.S. Dollar for Venezuela, Purchasing Power Parity over GDP for Venezuela, Cash surplus/deficit (% of GDP) for Venezuela, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Venezuela, Gross Domestic Product Per Capita for Bolivarian Republic of Venezuela, Population, Total for Bolivarian Republic of Venezuela, Life Expectancy at Birth, Total for the Bolivarian Republic of Venezuela, Crude Birth Rate for the Bolivarian Republic of Venezuela, Youth Unemployment Rate for the Bolivarian Republic of Venezuela, Total Factor Productivity at Constant National Prices for Bolivarian Republic of Venezuela, Infant Mortality Rate for the Bolivarian Republic of Venezuela, Net migration for the Bolivarian Republic of Venezuela, Life Insurance Premium Volume to GDP for Bolivarian Republic of Venezuela, Stock Market Capitalization to GDP for Bolivarian Republic of Venezuela, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Venezuela, Capital Stock at Constant National Prices for Bolivarian Republic of Venezuela, Index of Human Capital per Person for Bolivarian Republic of Venezuela, Gross National Income for Bolivarian Republic of Venezuela, U.S. Imports of Goods by Customs Basis from Venezuela, Remittance Inflows to GDP for Bolivarian Republic of Venezuela, Liquid Liabilities (Broad Money) for Bolivarian Republic of Venezuela, Employment to Population Ratio for the Bolivarian Republic of Venezuela, Literacy Rate, Adult Total for the Bolivarian Republic of Venezuela, U.S. Exports of Goods by F.A.S. Venezuelans wait in line to enter a government-run grocery store.

Chavez, who came to power in the wake of an oil crash that decimated Venezuela’s traditional parties, ramped up political patronage to a degree the country had never seen when crude prices suddenly began to soar again. That same year, the GDP of the state of Connecticut was about $279.7 billion. The government pegged the local currency to the dollar and set price controls for basic goods in an attempt to contain capital flight and inflation following the two-month strike. Chavismo has left the country mired in poverty and hyperinflation and led to the near collapse of its all-important oil industry. Venezuela: Inflation eases to near two-year low in December amid rapid dollarization of the economy. During Chavez’s first months in office, when low oil prices made his government reliant on international capital markets, he often displayed pragmatism and political moderation. Hugo Chavez led the first attempt and, while in prison, inspired the second attempt months later. Photographer: Federico Parra/AFP/Getty Images, Voters wait outside a polling station. The GDP figure in 2014 was €159,840 $212,347 million, Venezuela is number 50 in the ranking of GDP of the 196 countries that we publish. People write messages of support on the RCTV building on May 24. Students demonstrate against Chavez’s proposed constitutional reform. Maduro’s iron-fisted rule has allowed him to remain in charge of what’s become a failed state. February 4, 2020 It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Photographer: Luis Robayo/AFP/Getty Images, Venezuelan migrants who crossed from Colombia walk along the Pan-American Highway in Ecuador on their way to Peru.

(2014-06-10), Number of Years, Annual, Not Seasonally Adjusted, Births per 1,000 People, Annual, Not Seasonally Adjusted, Index 2011=1, Annual, Not Seasonally Adjusted, Number per 1,000 Live Births, Annual, Not Seasonally Adjusted, 2005 International Dollars per Person, Annual, Not Seasonally Adjusted, Millions of Dollars, Monthly, Not Seasonally Adjusted, Millions of 2000 Dollars, Annual, Not Seasonally Adjusted, Percent of People Ages 15 and Above, Annual, Not Seasonally Adjusted, Index 2010=100, Monthly, Not Seasonally Adjusted, PPP of Consumption over Exchange Rate, Annual, Not Seasonally Adjusted, Births per Woman, Annual, Not Seasonally Adjusted, Percent of Working-Age Population, Annual, Not Seasonally Adjusted, Percent Change at Annual Rate, Annual, Not Seasonally Adjusted, 1=Most Business-friendly Regulations, Annual, Not Seasonally Adjusted, Index USA = 1, Annual, Not Seasonally Adjusted, Births per 1,000 Women Ages 15-19, Annual, Not Seasonally Adjusted, Inflation, consumer prices for the Bolivarian Republic of Venezuela, Real GDP at Constant National Prices for Bolivarian Republic of Venezuela, GINI Index for the Bolivarian Republic of Venezuela, Constant GDP per capita for the Bolivarian Republic of Venezuela, Gross Domestic Product for Bolivarian Republic of Venezuela, Consumer Price Index for Bolivarian Republic of Venezuela, Index 2010=100,
An anti-government protester walks near a bus that was set on fire by opponents of Venezuela’s President Nicolas Maduro during clashes between rebel and loyalist soldiers in Caracas, Venezuela, on Tuesday, April 30, 2019. Maduro blamed opposition leaders for the attack and claimed that "hired assassins" had been trained in Colombia and offered $50 million to kill him. Here we show you the progression of the GDP in Venezuela. Though unsuccessful, the events thrust Chavez into the spotlight. Perez was impeached in 1993 for embezzling from a presidential discretionary fund. It would also need to restore the rule of law for businesses to feel comfortable investing in the reeling economy. Photographer: Juan Barreto/AFP/Getty Images. CSV XML EXCEL.

Hundreds, if not thousands, died in the rioting, crippling Perez’s political capital and inspiring Chavez to plot an overthrow. Photographer: Dmitry Kostyukov/AFP/Getty Images. Nicolas Maduro addresses a campaign rally in San Juan de los Morros. to The absolute value of GDP in Venezuela dropped €16,653 $22,054 million with respect to 2013. Venezuela’s biggest business federation of labor unions called a general strike in April to support the oil company’s autonomy. Photographer: Carlos Becerra/Anadolu Agency/Getty Images.

Chavez announced that Cuban doctors had removed a cancerous tumor from his body just a week after government officials denied reports that he had cancer. Venezuela’s oil industry had never fully recovered from the extended oil strike; for years, the country had been producing below its official production quota. This happened at a time when members of the military were becoming uncomfortable with Chavez’s growing ties to Cuba.

Sporadic power outages in the capital and other major cities were increasing just as the worst drought in 50 years was curbing output at the nation’s biggest hydroelectric dam, aggravating the crisis. Dollars, Annual, Not Seasonally Adjusted, 2010 U.S. Juan Guaido sings the national anthem during a rally in Caracas on Jan. 23. Photographer: Luis Camacho/AFP/Getty Images. The coup and the oil strike also pushed Chavez farther from the U.S. and closer to Washington’s political rivals, including Cuba and Iran. DataBank.

Two coup attempts in 1992 further weakened Perez and set the stage for his impeachment a year later. With assistance from Allison McCartney, Paul Murray, Alex McIntyre and Lauren Leatherby, Yearly average, WTI crude, USD/barrel from, Pct of population below poverty line, from, Photographer: Gerard Sioen/Gamma-Rapho via Getty Images, Oil derricks on Lake Maracaibo. Read more. Photographer: Paula Bronstein/Getty Images.

Venezuela gdp per capita for 2011 was $10,955, a … Chavez began campaigning against Henrique Capriles at a time that polls showed the two contenders in a dead heat. Years later, when oil prices were on a tear, Chavez started offering oil to Caribbean nations at preferential terms under a program known as Petrocaribe to gain influence in the region. Photographer: David Rochkind/Getty Images, The Mercal food market is inaugurated on April 23, 2003. People wait in line to withdraw money from an ATM in Caracas on Nov. 14, 2017.

GDP per capita in Venezuela averaged 13344.54 USD from 1960 until 2014, reaching an all time high of 15739.38 USD in 1977 and a record low of 9830.74 USD in 2003. Economic Indicators for Venezuela including actual values, historical data, and latest data updates for the Venezuela economy. Photographer: Leo Ramierz/AFP/Getty Images. The bad news: Things can still get worse.

Lopez remained under arrest, blocking him from participating in any elections, which drew criticism from the international community and undermined support for Maduro’s increasingly autocratic administration. While international observers including the Carter Center endorsed the results as fair, opposition leaders claimed fraud and went on to boycott elections for governors and mayors later that year, giving Chavez’s party near-total control of state governments. Maduro defeated Capriles by the narrowest margin for a Venezuelan presidential election since 1968 and inherited a country crippled by galloping inflation and shortages of consumer goods. Venezuela gdp for 2014 was $482.36B, a 30.01% increase from 2013. Russia offered Venezuela $1 billion in credit to purchase weapons in a sign of its growing influence in Caracas.

Photographer: Miguel Gutierrez/AFP/Getty Images, A hotel in Caracas's electricity is shut off after it fails to reduce its energy consumption. Photographer: Juan Barreto/AFP/Getty Images, President William Lara of the Venezuelan National Assembly takes the oath of office, along with the new, 165-member National Assembly. In 2014, the share of agriculture in … The brain drain of educated professionals would need to go into reverse to staff everything from hospitals to oil rigs.

Juan Guaido sings the national anthem during a rally in Caracas on Jan. 23.

The spending was ultimately unsustainable and poverty returned with a vengeance after oil prices crashed in 2014. The last Article IV Executive Board Consultation was on September 13, 2004. Dollars, Annual, Not Seasonally Adjusted 1960 to 2014 (2019-07-01) Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Venezuela Chavez and NYSE Chairman Richard Grasso ring the closing bell. On 17 March, a nationwide quarantine was declared by the government to fight the Covid-19 health crisis. With Venezuela’s oil-dependent economy in a tailspin, the newly elected administration of Carlos Andres Perez implemented IMF-backed austerity measures that included the removal of gasoline subsidies that were long considered a birthright in the oil-rich country. He quickly focused on other parts of the economy: Venezuela wound up nationalizing more than 1,000 companies during Chavez's 14 years in office.

Chavez fired his electricity minister amid a mounting crisis in the country’s highly subsidized power industry, which had been suffering blackouts. But starting in 2014, the South American nation began suffering a startling collapse. Photographer: Leo Ramirez/AFP/Getty Images, Chavez jokes with Sean Penn during Penn's visit to the Miraflores presidential palace in 2012. A burnt aid truck near the border in Cucuta, Colombia on Feb. 23, 2019. 1960-2014 Data | 2019-2020 Forecast | Historical | Chart | News. A Chavez billboard is displayed at a petrochemical plant. Photographer: Dmitry Kostyukov/AFP/Getty Images, Chavez shakes hands with Russian Prime Minister Vladimir Putin in Moscow.
Photographer: Pedro Ruiz/Gamma-Rapho via Getty Images, Castro visits Venezuela on his 75th birthday.


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