Venezuela, RB: Merchandise trade (% of GDP)
In , Venezuela, RB's Merchandise trade (% of GDP) was 24.39.
That's up 33.2% from 2023, the highest value since .
The global average for this indicator in 2024 was 64.89 . Venezuela, RB ranks #184 globally out of 197 reporting countries. Within Latin America & Caribbean, it ranks #34 of 36.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 56.31
- Trough
- 16.73
- 1-year change
- +33.2%
- 5-year change
- -22.8%
- -5.1% / yr
- 10-year change
- -55.6%
- -7.8% / yr
Historical Data — Last 10 Years
| Year | Merchandise trade (% of GDP) |
|---|---|
| 24.3900 | |
| 18.3099 | |
| 16.7278 | |
| 19.8357 | |
| 27.0787 | |
| 31.6103 | |
| 45.2357 | |
| 36.7007 | |
| 37.4051 | |
| 56.3088 |
About Merchandise trade (% of GDP)
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: TG.VAL.TOTL.GD.ZS • Category: Trade & Finance
Frequently asked questions
- What was Venezuela, RB's Merchandise trade (% of GDP) in 2024?
- In 2024, Venezuela, RB's Merchandise trade (% of GDP) was 24.39, according to World Bank Open Data.
- Is Venezuela, RB's Merchandise trade (% of GDP) rising or falling?
- Venezuela, RB's Merchandise trade (% of GDP) rose 33.2% from 2023 to 2024.
- How does Venezuela, RB rank globally on Merchandise trade (% of GDP)?
- In 2024, Venezuela, RB ranked #184 out of 197 countries reporting Merchandise trade (% of GDP).
- How does Venezuela, RB's Merchandise trade (% of GDP) compare to the world average?
- The global average for Merchandise trade (% of GDP) in 2024 was 64.89, so Venezuela, RB is below the world average. Within Latin America & Caribbean, it ranks #34 of 36.
- What is Merchandise trade (% of GDP) and how is it measured?
- General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS), CC BY 4.0.