Updated on May 14, 2023
Following the economic indicators in Venezuela has become a challenging task in the last five or six years, mainly because official sources have stopped publishing or publish with significant delays. Here, we gather the most recent data from various indicators and constantly update them so that you have them at hand without having to jump from website to website. If you believe any other information is missing, you can contact us at social@economiahoy.digital.
Venezuela’s Gross Domestic Product
Third quarter of 2022: 13.22%. Source: Central Bank of Venezuela (BCV) – Last available official data
Economic Activity Index: First quarter of 2023: -8.3%. Source: Venezuelan Finance Observatory (OVF)
Average Monthly Salary in Venezuela – March 2023
On march the average salary in Venezuela is $142.7, according with Venezuelan Finance Observatory.
Minimum Monthly Wage was set in March 2022 and is Bolívares 130 (approximately $5.3 as of May 14, 2023).
What is the inflation rate in Venezuela?
In April 2023, the inflation rate in Venezuela was 3.8%, according to data from the Central Bank of Venezuela. The independent organization Venezuelan Finance Observatory estimates it to be 2.5%.
Monthly: 2.5%. Year-on-year: 571%. Source: Venezuelan Finance Observatory (OVF)
Monthly: 3.8%. Year-on-year: 436.3%%. Source: Central Bank of Venezuela (BCV).
Family Food Basket in Venezuela
October 2022
The family food basket in Venezuela costs $397.
Source: Venezuelan Finance Observatory (OVF)
Poverty in Venezuela (by income)
Poor: 81.5% of households
Extreme poor: 53.3% of households
Source: National Survey of Living Conditions
How much oil does Venezuela produce?
Venezuela’s oil production in April 2023 was 724,000 barrels per day, according to data from secondary sources disseminated by OPEC. Petróleos de Venezuela reported a production of 810,000 bpd.
Source: Organization of the Petroleum Exporting Countries (OPEC). See graph
Venezuelan Banking Data (as of March 2023) View graphs
Number of banks: 26 (20 private – 6 state-owned)
Number of branches: 2,585
Number of employees: 33,426
Bank deposits: Bolívares 65,253.5 million 🔼 Annualized 426% – ($2.661 billion dollars)
Loan portfolio: Bolívares 21,545.5 million 🔼 Annualized 1,268% – ($878.6 million dollars)