Venezuela: Net errors and omissions
* indicates monthly or quarterly data series
| Venezuela |
Balance of payments, net errors and omissions |
|---|---|
| Latest value | -2,794.00 |
| Year | 2016 |
| Measure | million USD |
| Data availability | 1970 - 2016 |
| Average | -1,080.21 |
| Min - Max | -3,730.00 - 3,090.00 |
| Source | The World Bank |
The latest value from 2016 is -2794 million USD, a decline from -2252 million USD in 2015. In comparison, the world average is -1277.17 million USD, based on data from 177 countries. Historically, the average for Venezuela from 1970 to 2016 is -1080.21 million USD. The minimum value, -3730 million USD, was reached in 2010 while the maximum of 3090 million USD was recorded in 1988.
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Definition: Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. Data are in current U.S. dollars.
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 |