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Venezuela Current Account to GDP Ratio

Venezuela's current account to GDP increased to 4.1% in 2024 from 3.1% in 2023. This rise is driven by recovering oil prices and production which increased export revenues. Venezuela's economy heavily relies on petroleum exports. Venezuela's record low current account to GDP was -12.8% in 2015 and record high was 8.4% in 2018.

Yearly Historical Data (2015-2024)

(in %)
Year Current Account to GDP Ratio
2024 4.1%
2023 3.1%
2022 3.6%
2021 -1.2%
2020 -3.5%
2019 5.9%
2018 8.4%
2017 7.5%
2016 -3.4%
2015 -12.8%
Venezuela Current Account to GDP Ratio : Definition
Venezuela's current account to GDP ratio measures the sum of its trade balance, net income and net transfers relative to its total economic size (GDP). It is calculated by dividing the current account balance by Venezuela's nominal GDP. This ratio shows the external sector's position compared to the overall economy, significantly shaped by oil exports.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 164% 138% Dec'24
Interest Rate 58.95% 59.06% Sep'25