Where does Venezuela rank in the world by GDP?

Where does Venezuela rank in the world by GDP?

The GDP figure in 2018 was $98,400 million, Venezuela is number 66 in the ranking of GDP of the 196 countries that we publish.

What is the economic growth rate of Venezuela?

In the long-term, the Venezuela GDP Growth Rate is projected to trend around -20.00 percent in 2021 and -14.00 percent in 2022, according to our econometric models. Venezuela is a state-controlled economy and the fifth biggest in Latin America.

Does Venezuela have a good GDP?

This downward trend is predicted to continue until 2022. Venezuela is famously the country with the largest oil reserves. However, mismanagement of the economy has led to several economic problems….

Characteristic Gross domestic product in billion U.S. dollars
2022* 43.55
2021* 44.89
2020* 47.26
2019* 63.96

What is the GDP per capita of Venezuela 2017?

684,960.377 USD
Venezuela Gross Domestic Product (GDP) per Capita reached 684,960.377 USD in Dec 2017, compared with 101,700.215 USD in Dec 2016. Venezuela GDP Per Capita data is updated yearly, available from Dec 1960 to Dec 2017, with an average number of 3,262.854 USD.

Where does Venezuela rank in the world?

Venezuela is 147th in the overall Prosperity Index rankings. Since 2011, Venezuela has moved down the rankings table by 37 places.

What is Venezuela’s rank in GDP growth rate?

Economy of Venezuela

Population 28,515,529 (2019)
GDP $42.530 billion (nominal, 2021 est.) $144.737 billion (PPP, 2020 est.)
GDP rank 88th (nominal, 2021) 79th (PPP, 2021)
GDP growth −35.0% (2019e) −30.0% (2020e) −10.0% (2021e) −5.0% (2022e)

What is the GDP of Venezuela 2020?

47.26 billion US dollars
Venezuela (Bolivarian Republic of) GDP was at level of 47.26 billion US dollars in 2020, down from 63.96 billion US dollars previous year, this is a change of 26.12%.

Is Venezuela a rich or poor country?

Three in four Venezuelans live in extreme poverty According to a study by a team of researchers in 2021 76.6% of Venezuelans live on less than $1.90 a day, the international standard for extreme poverty.

What is the current inflation rate in Venezuela?

Inflation Rate in Venezuela decreased to 1197.50 percent in November from 1575.30 percent in October of 2021. Inflation Rate in Venezuela averaged 3758.27 percent from 1973 until 2021, reaching an all time high of 344509.50 percent in February of 2019 and a record low of 3.22 percent in February of 1973. This page provides – Venezuela Inflation Rate – actual values, historical data, forecast

What is the per capita GDP of Venezuela?

Venezuela (Bolivarian Republic of) – Gross domestic product per capita based on purchasing-power-parity in current prices. 5,178 (international dollars) in 2020. In 2020, GDP per capita based on PPP for Venezuela (Bolivarian Republic of) was 5,178 international dollars. GDP per capita based on PPP of Venezuela (Bolivarian Republic of) fell gradually from 12,109 international dollars in 2001 to 5,178 international dollars in 2020.

What is the current economic situation in Venezuela?

Venezuela has been in the grip of an economic crisis for years now with hyperinflation one of the main problems. Business news website Bloomberg has been tracking the price of a cup of coffee in the Venezuelan capital, Caracas, to show how prices have increased.

Why does inflation increase with GDP growth?

Inflation generally increases when the gross domestic product (GDP) growth rate is above 2.5 percent due to several factors, such as demand for goods overstretching supply and higher wages in an ultra-competitive job market, according to Investopedia. When inflation starts to rise, consumers tend to spend more money before prices go higher.