Venezuela: Military spending, percent of GDP

* indicates monthly or quarterly data series

Military spending, percent of GDP

 Latest value 0.65
 Year 2022
 Measure percent
 Data availability 1960 - 2022
 Average 1.81
 Min - Max 0.15 - 3.06
 Source Stockholm International Peace Research Institute
For that indicator, we provide data for Venezuela from 1960 to 2022. The average value for Venezuela during that period was 1.81 percent with a minimum of 0.15 percent in 2018 and a maximum of 3.06 percent in 1960. The latest value from 2022 is 0.65 percent. For comparison, the world average in 2022 based on 145 countries is 1.98 percent. 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 - Military spending, percent of GDP - Recent values chart

Historical chart
Venezuela - Military spending, percent of GDP - historical chart - 1960-2022

Definition: Military spending includes expenditure on peacekeeping, defense ministries, paramilitary forces, and military space activities. Also: military and civil personnel, including retirement pensions; operations and maintenance; procurement; military research and development; and military aid. Defense and current expenditure for past military activities, such as for veterans' benefits, demobilization, conversion, and weapon destruction, are not included.

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 Related indicators Latest value Reference Measure
 Military spending 0.00 2022 billion U.S. dollars
 Military spending, percent of GDP 0.65 2022 percent
 Armed forces 343,000 2020 people
 Armed forces, percent of labor force 3.30 2020 percent
 Arms exports 40.00 2009 million U.S. dollars
 Arms imports 79.00 2020 dollars
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