Wednesday, April 30, 2025

Venezuela Economy 4-30-25

In 2024, Venezuela's nominal GDP was estimated at $102.328 billion. 

In 2024, Venezuela's population is estimated to be around 34.1 million people.

Since 2016, the population of Venezuela has dropped from 30,765,720 to 28,516,896.

Year     Population

2016     30,765,720

2017     30,565,323

2018     29,807,592

2019     28,938,098

2020     28.444,077

2021     28,237,826

2022     28,213,017

2023     28.300,854

2024     28,405,543

2025     28,516,896

https://www.worldometers.info/world-population/venezuela-population/

In 2024, Venezuela's nominal GDP per capita was estimated to be $3,867.

Venezuela's oil exports have seen a significant decline and subsequent recovery in recent years. After reaching a low of 438,173 barrels per day in 2022, exports increased to 550,168 barrels per day in December 2023. This recovery is partly due to increased sales to Asia and the easing of some US sanctions in 2023, according to Reuters

https://www.google.com/search?q=venezuela+oil+exports+2020+to+present

In Venezuela, the debt-to-nominal GDP ratio was 329.1% in 2020, 146% in 2023, and is projected to be 135% by the end of 2025. The debt-to-GDP ratio has been volatile, reaching a peak in 2020 and then declining before potentially stabilizing, according to Trading Economics and Statista. 

https://www.google.com/search?q=vwnizuela+debt+to+nominal+gdp+2020+to+2025

In January 2025, the United States was Venezuela's largest trading partner, with exports of $632 million and imports of $374 million. Other key trading partners for Venezuela include China, Spain, Brazil, and Turkey. Venezuela's main exports to the US are crude petroleum, petroleum coke, and coffee, while its main imports from the US are refined petroleum, soybean meal, and soybean oil. 

https://www.google.com/search?q=venezuela+trading+partners+2025

Comments

The March 2025 EO imposed 25% Tariffs on countries doing business with Cuba.

Norb Leahy, Dunwoody GA Tea Party Leader

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