Venezuela: Trade balance, percent of GDP

* indicates monthly or quarterly data series
 Venezuela

Trade balance as percent of GDP

 Latest value -14.70
 Year 2014
 Measure percent
 Data availability 1960 - 2014
 Average 6.49
 Min - Max -14.70 - 24.40
 Source The World Bank
The latest value from 2014 is -14.7 percent, a decline from -4.75 percent in 2013. In comparison, the world average is -5.16 percent, based on data from 173 countries. Historically, the average for Venezuela from 1960 to 2014 is 6.49 percent. The minimum value, -14.7 percent, was reached in 2014 while the maximum of 24.4 percent was recorded in 1974. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Venezuela - Trade balance, percent of GDP - Recent values chart

Historical series
Venezuela - Trade balance, percent of GDP - historical chart - 1960-2014




The trade balance for Venezuela and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

All articles



 Related indicators Latest Reference Measure
 Terms of trade 101.49 2021 percent
 Trade openness 48.09 2014 percent
 Financial openness -1.931 2021 index points
 Exports, percent of GDP 16.69 2014 percent
 Exports, billion dollars 80.52 2014 billion U.S. dollars
 Growth of exports -4.66 2014 percent
 Imports, percent of GDP 31.40 2014 percent
 Imports, billion dollars 151.45 2014 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 0.24 2014 percent
 Foreign Direct Investment, billion dollars 0.94 2022 billion U.S. dollars
 Portfolio investment inflows, equities 5.00 2015 million dollars (current)
 Current account, percent of GDP 8.44 2018 percent
 Current account, in dollars -3.87 2016 billion U.S. dollars
 Trade balance, percent of GDP -14.70 2014 percent
 Trade balance, in dollars 2.87 2016 billion U.S. dollars
 Reserves 9.79 2017 billion U.S. dollars
 Remittances, percent of GDP 0.03 2014 percent
 Remittances 279.00 2016 million U.S. dollars
 Net errors and omissions -2,794.00 2016 million USD
 External debt 33.74 2014 percent
 Short-term external debt 30.42 2021 percent
 Short-term debt to reserves 451.25 2017 percent
 Foreign exchange reserves 10.87 9/2024 billion
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