Venezuela: Financial openness
* indicates monthly or quarterly data series
| Venezuela |
Financial openness index |
|---|---|
| Latest value | -1.931 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1970 - 2021 |
| Average | -0.284 |
| Min - Max | -1.931 - 2.299 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -1.931 index points, unchanged from -1.931 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Venezuela from 1970 to 2021 is -0.284 index points. The minimum value, -1.931 index points, was reached in 2010 while the maximum of 2.299 index points was recorded in 2000.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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 |