Venezuela Economic Outlook
April 21, 2015The economy entered recession in 2014, after recording three consecutive contractions, from Q1 to Q3. Adding to Venezuela’s woes, inflation skyrocketed last year. The sharp drop in the price for oil has put the government’s finances under pressure as oil revenues represent the vast majority of Venezuela’s dollar income. Moreover, increasing cash shortages are escalating Venezuela’s economic crisis. In response, on 10 April, the government announced additional tightening of capital controls, reducing the amount of foreign exchange available to Venezuelan travelers from USD 2,500 to USD 700.
Venezuela Economic Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
|Bond Yield||8.80||0.0 %||Apr 23|
|Exchange Rate||6.30||0.0 %||Apr 23|
|Stock Market||5,692||0.04 %||Apr 23|
Venezuela Economic Growth
April 21, 2015Venezuela’s outlook for 2015 is worsening quickly. The economy remains in a downward spiral amid recession, elevated inflation and a severe credit crunch. Against this backdrop, LatinFocus Consensus Forecast panelists shaved off 0.6 percentage points from last month’s projection and now see a 5.5% contraction in GDP for 2015. For 2016, the panel sees GDP falling 1.2%.
See all the data and analysis available in each of our Regional and Country reports.
Venezuela Economic News
Venezuela: Parallel dollar value remains low amid deteriorating economic situation and increasing capital controls
April 20, 2015
The bolivar traded in the parallel market continues to fluctuate around record lows in recent weeks amid Venezuela’s deteriorating economic situation and increasing cash shortages in the country.
April 16, 2015
In March, the average price of Venezuela’s mix of crude oil fell 1.4% over the previous month, hitting USD 47.1 per barrel.
April 10, 2015
Annual car sales rose 128.9% over the same month last year and totaled a three-month-high of 3,832 units in March, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela).
March 16, 2015
The bolivar traded in the parallel market tumbled in recent weeks following the Venezuelan government’s overhaul of the exchange rate system.
March 16, 2015
In February, the average price of Venezuela’s mix of crude oil rose a sharp 18.5% over the previous month, reaching USD 47.8 per barrel.