Venezuela - Nominal Gross Domestic Product

Venezuela: Nominal Gross Domestic Product

Mnemonic GDP.IVEN
Unit Thousands of VEF, NSA
Adjustments Not Seasonally Adjusted
Annual 615.15 %
Data 2017 200,891,849,368
2016 28,090,730,263

Series Information

Source Central Bank of Venezuela
Release GDP-Annual
Frequency Annual
Start Date 12/31/1995
End Date 12/31/2017

Venezuela: GDP

Reference Last Previous Units Frequency
Real Gross Domestic Product 2019 Q1 5,982,351 7,845,115 Ths. 1997 VEF, NSA Quarterly
Government Consumption 2017 18,077,206,605 2,610,599,070 Thousands of VEF, NSA Annual
Investment 2017 33,071,068,901 3,787,309,326 Thousands of VEF, NSA Annual
Nominal Gross Domestic Product 2017 200,891,849,368 28,090,730,263 Thousands of VEF, NSA Annual
Private Consumption 2017 201,817,032,211 24,095,152,430 Thousands of VEF, NSA Annual
Real Government Consumption 2017 8,977,651 9,675,443 Thousands of 1997 VEF, NSA Annual
Real Investment 2017 3,935,437 7,189,951 Thousands of 1997 VEF, NSA Annual
Real Private Consumption 2017 27,036,763 32,252,440 Thousands of 1997 VEF, NSA Annual
Nominal Fixed Investment (gross fixed capital formation) 2014 655,432,046,000 498,972,934,000 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2014 16,462,970,000 19,814,193,000 NCU 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.