Venezuela - Nominal Gross Domestic Product





Venezuela: Nominal Gross Domestic Product

Mnemonic GDP.IVEN
Unit Thousands of VEF, NSA
Adjustments Not Seasonally Adjusted
Annual 34.97 %
Data 2014 3,031,242,431
2013 2,245,843,966

Series Information

Source Central Bank of Venezuela
Release GDP-Annual
Frequency Annual
Start Date 12/31/1995
End Date 12/31/2014

Venezuela: GDP

Reference Last Previous Units Frequency
Real Gross Domestic Product 2015 Q3 14,303,628 13,902,903 Ths. 1997 VEF, NSA Quarterly
Government Consumption 2014 442,663,056 278,233,589 Thousands of VEF, NSA Annual
Investment 2014 655,459,625 498,992,513 Thousands of VEF, NSA Annual
Nominal Fixed Investment (gross fixed capital formation) 2014 655,432,046,000 498,972,934,000 NCU Annual
Nominal Gross Domestic Product 2014 3,031,242,431 2,245,843,966 Thousands of VEF, NSA Annual
Private Consumption 2014 2,282,210,369 1,461,820,519 Thousands of VEF, NSA Annual
Real Fixed Investment (gross fixed capital formation) 2014 16,462,970,000 19,814,193,000 NCU Annual
Real Government Consumption 2014 11,717,868 11,643,284 Thousands of 1997 VEF, NSA Annual
Real Investment 2014 16,463,844 19,815,245 Thousands of 1997 VEF, NSA Annual
Real Private Consumption 2014 43,911,357 45,439,149 Thousands of 1997 VEF, NSA Annual

Release Information

Due to the source not updating data in all of 2014, we have decided that we will now check for new data once a month. 

The national accounts of Venezuela cover the economic activities of all resident units. This includes legal production activities within territorial boundaries. Also included are indirect estimates of some informal activities such as: crafts, nonorganized passenger transportation, real estate services, and own account services. Formal and informal trade is estimated on the basis of coefficients for trade and transport margins obtained in the 1987 survey of margins and distribution channels. Direct estimates of unincorporated family businesses are not included. National accounts cover all money transactions. Imports are adjusted for seized contraband and mining output for the illegal production of gold and diamonds.

Samples for estimating the production and output of certain nonfinancial private sector activities include data on economic units located in the major cities of the country: Caracas Metropolitan Area, Maracay, Valencia, Puerto La Cruz, Barcelona, Ciudad Bolívar, Puerto Ordaz, Barquisimeto, Maracaibo, and their surrounding areas. In some cases, approximations are calculated for the rest of the country.

Data is subject to revisions.

Current publications use the International Standard Industrial Classifications and cover the following activities: Agriculture; Crude oil and natural gas; Mining; Manufacturing industry; Oil refining; Electricity; Water supply, Construction; Business, restaurants, and hotels; Transportation, storage, and communications; Financial institutions, Insurance; Real estate; Business services; Community, social, and personal services; Producers of general government services and Producers of private nonprofit services.