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Venezuela, RB: Trade (% of GDP)

In , Venezuela, RB's Trade (% of GDP) was 26.08.

That's down 7.2% from 2023, the highest value since .

The global average for this indicator in 2024 was 92.19 . Venezuela, RB ranks #156 globally out of 160 reporting countries. Within Latin America & Caribbean, it ranks #23 of 24.

Source: World Bank Open Data (NE.TRD.GNFS.ZS) • Data as of 2024

Trend (2005–2024)

Venezuela, RB Trade (% of GDP) trend 2008: Global financial crisis 2020: COVID-19 pandemic 2014: Oil price collapse 2022: Russia–Ukraine war begins
  • 2008 · Global financial crisis
  • 2020 · COVID-19 pandemic
  • 2014 · Oil price collapse
  • 2022 · Russia–Ukraine war begins

Highlights

Peak
64.21
Trough
26.08
1-year change
-7.2%
5-year change
-55.1%
-14.8% / yr
10-year change
-59.4%
-8.6% / yr

Historical Data — Last 10 Years

Year Trade (% of GDP)
26.0812
28.0946
27.8983
29.2263
26.0912
58.1293
54.6451
42.5829
41.3072
60.2888

About Trade (% of GDP)

Trade is the sum of exports and imports of goods and services. 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: NE.TRD.GNFS.ZS • Category: Economy

Frequently asked questions

What was Venezuela, RB's Trade (% of GDP) in 2024?
In 2024, Venezuela, RB's Trade (% of GDP) was 26.08, according to World Bank Open Data.
Is Venezuela, RB's Trade (% of GDP) rising or falling?
Venezuela, RB's Trade (% of GDP) fell 7.2% from 2023 to 2024.
How does Venezuela, RB rank globally on Trade (% of GDP)?
In 2024, Venezuela, RB ranked #156 out of 160 countries reporting Trade (% of GDP).
How does Venezuela, RB's Trade (% of GDP) compare to the world average?
The global average for Trade (% of GDP) in 2024 was 92.19, so Venezuela, RB is below the world average. Within Latin America & Caribbean, it ranks #23 of 24.
What is Trade (% of GDP) and how is it measured?
Trade is the sum of exports and imports of goods and services. 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.
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Source: World Bank Open Data (NE.TRD.GNFS.ZS), CC BY 4.0.