Venezuela: Financial openness
* indicates monthly or quarterly data series
| Venezuela |
Financial openness index |
|---|---|
| Latest value | -1.935 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1970 - 2022 |
| Average | -0.321 |
| Min - Max | -1.935 - 2.290 |
| Source | Chinn-Ito Index |
The latest value from 2022 is -1.935 index points, unchanged from -1.935 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for Venezuela from 1970 to 2022 is -0.321 index points. The minimum value, -1.935 index points, was reached in 2010 while the maximum of 2.29 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.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 119.20 | 2018 | percent |
| Trade openness | 26.40 | 2024 | percent |
| Financial openness | -1.935 | 2022 | index points |
| Exports, percent of GDP | 16.86 | 2024 | percent |
| Exports, billion dollars | 14.85 | 2025 | billion U.S. dollars |
| Growth of exports | -4.66 | 2014 | percent |
| Imports, percent of GDP | 9.22 | 2024 | percent |
| Imports, billion dollars | 10.07 | 2025 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.36 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 1.63 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 5.00 | 2015 | million dollars (current) |
| Current account, percent of GDP | -3.43 | 2016 | percent |
| Current account, in dollars | -3.87 | 2016 | billion U.S. dollars |
| Trade balance, percent of GDP | 7.64 | 2024 | percent |
| Trade balance, in dollars | 2.87 | 2016 | billion U.S. dollars |
| Reserves | 9.79 | 2017 | billion U.S. dollars |
| Remittances, percent of GDP | 0.25 | 2016 | percent |
| Remittances | 0.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -2,794.00 | 2016 | million USD |