Nominal GDP for Venezuela was estimated to be Bs195.2bn in 2021, down from Bs14.7bn in 2020. The Venezuelan population was estimated at 27.6m in 2021 according to the IMF, while the United States is Venezuela’s biggest trading partner.

Variables Surveyed for Venezuela

Variables covered in our monthly analysis of Venezuela include:

  • Gross Domestic Product
  • Private Consumption
  • Gross Fixed Investment
  • Manufacturing Production
  • Consumer Prices
  • Nominal Wages
  • Central Government Budget Balance
  • Merchandise Exports
  • Merchandise Imports
  • Trade Balance
  • Current Account Balance
  • Interest Rates
  • Foreign Currency Reserves
  • Bolivar Currency Forecasts
  • Country Risk Indicators
  • Monthly Inflation Forecasts

Consensus Forecasts for Venezuela

Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters”  including the IMF and the ECLAC. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Latin American Conensus Forecasts, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Venezuela on topics such as:

Main Data Sources for Venezuela

  • Instituto Nacional de Estadística: The Instituto Nacional de Estadística is the main public statistical body of the Venezuelan Government, being the central entity of the National Statistical System and is in charge of the systematization and publication of statistical data in the Venezuelan territory.
  • Central Bank of Venezuela: The Central Bank of Venezuela maintains a fixed exchange rate for the Venezuelan bolívar and since 1996 is the governing agent of the Venezuelan Clearing House System.

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.