Venezuela: Trade openness
* indicates monthly or quarterly data series
| Venezuela |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 48.09 |
| Year | 2014 |
| Measure | percent |
| Data availability | 1960 - 2014 |
| Average | 49.82 |
| Min - Max | 35.71 - 62.15 |
| Source | The World Bank |
The latest value from 2014 is 48.09 percent, a decline from 54.28 percent in 2013. In comparison, the world average is 92.17 percent, based on data from 173 countries. Historically, the average for Venezuela from 1960 to 2014 is 49.82 percent. The minimum value, 35.71 percent, was reached in 1983 while the maximum of 62.15 percent was recorded in 1977.
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Definition: Exports plus imports as percent of GDP.
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 |