Venezuela Economic Outlook
June 14, 2016Years of economic mismanagement and the slump in oil prices have pushed the country into a severe crisis. While oil prices have been slowly recovering for the past months and hit their highest level since October in May, oil prices remain too low to shore up public finances or mend the economy. In May, car sales tallied another sharp contraction while the Dicom exchange rate depreciated sharply. To honor its debt commitment, the government has liquidated additional gold reserves and reached a debt agreement with China that will exacerbate shortages of consumer goods by limiting dollar supply used for imports buying. The dire situation has intensified street protests and looting as well as the ongoing political standoff. International actors have stepped in to diffuse the growing crisis, but prospects of a mediated solution are elusive.
Venezuela Economy Data
5 years of Venezuela economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||5.50||0.0 %||May 19|
|Exchange Rate||10.00||0.0 %||Jun 30|
|Stock Market||12,851||0.15 %||Jun 30|
Venezuela Economic Growth
June 14, 2016The country’s growth prospects remain bleak. Runaway inflation and structural macroeconomic imbalances are likely to keep the economy mired in a deep recession this year and next. FocusEconomics panelists see the economy contracting 8.3% this year, which is down 0.5 percentage points from last month’s projection. Next year, the panel sees GDP dropping 2.2%.
Venezuela Economic News
June 10, 2016
The political and economic crisis in Venezuela continues to deepen after President Nicolás Maduro stepped up his effort to block the recall referendum launched by the opposition.
June 9, 2016
Car sales recorded a massive 83.5% contraction over the same month of the previous year and totaled 253 units in May, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela).
May 13, 2016
In April, the average price of Venezuela’s mix of crude oil rose a healthy 6.3% over the previous month, reaching USD 31.6 per barrel.
May 11, 2016
After crossing the 1,200 VEF per USD threshold in the parallel market and hitting an all-time low on 10 March—the same day that the new two-tier exchange rate system was introduced—the bolivar appreciated marginally and stabilized.
May 6, 2016
Car sales recorded a massive 83.9% contraction over the same month of the previous year and totaled 279 units in April, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela).