Venezuela Economic Outlook
November 11, 2014Although no official GDP data have been released this year, economists believe that the country is deeply mired in recession. The steep decline in oil prices has added further pressure on the economy. Oil accounts for about 95% of Venezuelan exports and for more than half of public sector revenues. The budget for 2015 assumes a “conservative” oil price of USD 60 per barrel and economic growth of 3.0%; most analysts consider this growth assumption too optimistic.
Venezuela Economic Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
|Bond Yield||8.8||0.0 %||Oct 23|
|Exchange Rate||6.30||0.0 %||Nov 17|
|Stock Market||2,909||-0.06 %||Nov 17|
Venezuela Economic Growth
November 11, 2014The outlook for the country continues to worsen. The mix of severe U.S. dollar shortages, soaring inflation, erratic economic policies and falling oil prices have prompted panelists to predict a contraction for 2015 as well. LatinFocus Consensus Forecast panelists expect GDP to drop 0.8% in 2015, which contrasts the 0.2% growth projected last month. For this year, the panel sees GDP falling 3.0%.
See all the data and analysis available in each of our Regional and Country reports.
Venezuela Economic News
November 10, 2014
The freefall of the bolivar that is traded in the parallel market continued in recent weeks due to a severe shortage of U.S. dollars and strong purchases of the greenback by Venezuelans in an attempt to protect themselves from skyrocketing inflation.
November 1, 2014
In October, the average price of Venezuela’s mix of crude oil fell an astonishing 11.6% over the previous month to USD 78.9 per barrel, which represented the lowest price since November 2010.
October 21, 2014
Finance Minister Rodolfo Marco Torres presented the draft budget for 2015 to the unicameral National Assembly on 21 October.
October 8, 2014
The bolivar that is traded in the parallel market continued on a downward spiral in recent weeks due to a severe shortage of U.S. dollars and Venezuelans’ appetite for the greenback as they attempt to protect themselves from soaring inflation.
October 8, 2014
Annual car sales tumbled 74.9% over the same month last year and reached 1,917 units in September, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Camara Automotriz de Venezuela).