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 298,400

millions

1.9%

 

USD 9,384

 

Economic Statistics (years 2015 - forecast 2020)

National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) -6.1% -13.3% -13.2% -15.3% -5.8% -4.9%
Nominal GDP (USD millions) 443,200 385,300 319,900 298,400 68,500 80,700
GDP per Head (USD) 14,579 12,469 10,220 9,384 2,127 2,475
Inflation (%) 180.9% 274.4% 2581.8% 715130.2% 1161.2% 1028.6%
Fiscal Balance (% GDP) -20.7% -24.3% -19.2% -15.5% -8.6% -7.8%
General Govt. gross debt (% GDP) 50.7% 39.2% 23.7% 61.2% 77.6% 47.7%
   

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) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 37,232 27,399 32,119 33,482 25,820 27,473
Exports growth (%) -50.1% -26.4% 17.2% 4.2% -22.9% 6.4%
Imports of Goods 33,276 16,338 10,994 11,215 14,104 17,388
Imports growth (%) -29.5% -50.9% -32.7% 2.0% 25.8% 23.3%
Foreign Trade (% GDP) 16% 11% 13% 15% 58% 56%
             
Current Account Balance -16,051 -3,870 7,249 14,014 2,693 2,978
% GDP -3.6% -1.0% 2.3% 4.7% 3.9% 3.7%
Foreign Direct Investment 2,956 1,587 2,562 2,000 3,000 4,000
% GDP 0.7% 0.4% 0.8% 0.7% 4.4% 5.0%
   

 

Disclaimer

This presentation has been prepared by Banco Latinoamericano de Comercio Exterior, S.A. (“BLADEX”) for information purposes only.

Although the information contained in this presentation has been obtained from sources which BLADEX believes to be reliable, it has not been independently verified and no representation or warranty, express or implied, is made and no responsibility is or will be accepted by BLADEX as to or in relation to the accuracy, reliability or completeness of any such information.

 The information and opinions contained in this presentation are not intended to be the sole basis upon determinations as to the advisability of any transaction contemplated herein. Accordingly, recipient(s) hereof should make their own judgment and assessment of the information contained in this presentation. Any views expressed herein reflect the judgment of BLADEX as of the date of this presentation and may be subject to change without notice whether or not BLADEX becomes aware of any information, or whether specific to a transaction or in general (including changes in prevailing capital markets conditions), which may have a material impact on any such views. BLADEX will not be responsible for any consequences resulting from the use of this presentation or reliance upon any view or statement contained herein or for any omission.

This presentation may not be reproduced (in whole or in part) or summarized or distributed without the prior written permission of BLADEX.

BLADEX does not provide any tax, legal, economic or accounting advice and you should seek independent professional advice as appropriate. Accordingly, any discussions of tax, legal, economic or accounting matters contained in this presentation (including any attachments) are not written or intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under any applicable laws or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.