General Information

The country is a leading oil producer, a sector which generates 95% of the country's exports.  

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 210,085

millions

3.8%

 

USD 6,684

 

Economic Statistics (years 2014 - forecast 2019)

National Accounts 2014 2015 2016 2017 f.2018 f.2019
             
GDP growth (%) -3.9% -6.2% -16.5% -14.0% -15.8% -6.0%
Nominal GDP (USD millions) 212,347 242,596 236,116 210,085 100,845 92,417
GDP per Head (USD) 7,030 7,923 7,610 6,684 3,168 2,868
Inflation (%) 64.7% 159.7% 302.6% 2818.4% 12874.6% 12874.6%
Fiscal Balance (% GDP) -16.5% -17.6% -17.8% -31.8% -30.2% -30.9%
General Govt. gross debt (% GDP) 63.5% 31.9% 31.3% 34.9% 162.0% 172.1%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 34.2%   US   37.5%
India 16.9%   China   21.4%
China  15.7%   Mexico   14.3%
Netherlands Antilles 8.1%   Colombia   5.7%
           
By products     By products  
Fuels and mining prod. 98.1%   Manufactures 62.9%
Manufactures 1.8%   Agricultural products 18.7%
Agricultural products 0.1%   Fuels and mining prod. 1.7%
   
Balance of Payments (USD millions) 2014 2015 2016 2017 f.2018 f.2019
             
Exports of Goods 74,672 37,232 27,399 31,560 30,167 31,519
Exports growth (%) -15.9% -50.1% -26.4% 11.7% -4.4% 4.5%
Imports of Goods 47,223 33,276 16,338 11,202 10,370 12,289
Imports growth (%) -17.4% -29.5% -50.9% -14.0% -7.4% 18.5%
Foreign Trade (% GDP) 57% 29% 19% 20% 40% 47%
             
Current Account Balance 4,919 -16,051 -3,870 2,017 2,720 3,050
% GDP 1.2% -3.4% -0.7% 0.4% 2.7% 3.3%
Foreign Direct Investment 320 3,764 1,587 2,562 2,000 2,200
% GDP 0.1% 0.8% 0.3% 0.5% 2.0% 2.4%
   

 

Disclaimer

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