Venezuela: Business freedom

* indicates monthly or quarterly data series

Business freedom index (0-100)

 Latest value 31
 Year 2024
 Measure points
 Data availability 1995 - 2024
 Average 50
 Min - Max 31 - 85
 Source The Heritage Foundation
For that indicator, we provide data for Venezuela from 1995 to 2024. The average value for Venezuela during that period was 50 points with a minimum of 31 points in 2020 and a maximum of 85 points in 1995. The latest value from 2024 is 31 points. For comparison, the world average in 2024 based on 175 countries is 62 points. 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 values chart
Venezuela - Business freedom - Recent values chart

Historical chart
Venezuela - Business freedom - historical chart - 1995-2024

The Business Freedom index for Venezuela from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Venezuela in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).

 Related indicators Latest value Reference Measure
 Property rights 0 2024 points
 Freedom from corruption 6 2024 points
 Fiscal freedom 37 2024 points
 Business freedom 31 2024 points
 Labor freedom 36 2024 points
 Monetary freedom 0.00 2024 points
 Trade freedom 42 2024 points
 Investment freedom 0 2024 points
 Financial freedom 10 2024 points
 Economic freedom, overall index 28 2024 index points
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