Oil Is Major Part of Venezuela's GDP Oil comprises more than 80% of Venezuela's exports and more than 17% of its gross domestic product (GDP), so high prices provide a boon to the country's economy.

Venezuelan President Nicolás Maduro announced that his country's Gross Domestic Product (GDP) grew by over 6% in the second ...

Venezuela Defies Expectations As Economy Rebounds By Matthew Smith - Jun 21, 2023, 9:00 AM CDT ...

Growth is projected to decelerate sharply and so is private consumption as the rich watch their currency lose value. In Chavez's last year at the helm, the economy grew at 5.5%, more than any ...

Venezuela is facing a resurgence of violence and economic turmoil following allegations of fraud in the recent presidential elections favoring Nicolás Maduro. These accusations have ignited ...

Venezuela’s economy has heaved during 2014 and the situation isn’t likely to improve in 2015. In early 2014 after Ford and General Motors reported combined write-offs of $710 million and ...

Venezuela this year is among the fastest growing economies in Latin America. The economy expanded at a quicker rate than last year’s third quarter, when growth stood at 4.4 percent.

CARACAS, March 24 (Reuters) - Venezuela, fighting to stop a slide into recession after a long economic boom fueled by record oil revenues, considers any economic growth at all this year "good ...

Venezuela's deepening electricity crisis may drag on the economy for several years, dashing government hopes for GDP growth, slashing fuel exports from the OPEC country, and ushering in lengthy ...

It is hard not to shed a tear for Venezuela. Latin America’s largest oil producer on Tuesday confirmed that it had pulled off the remarkable feat of contracting 1.4 per cent during a year in ...

Venezuela's partial dollarization has allowed for tenuous growth in commerce and services but is not enough to ensure recovery from years of hyperinflation, the president of business chamber ...

Venezuelan officials are reporting 5.2 percent economic growth for the third quarter as compared to the same period last year.Venezuela's Central Bank credited more supplies of imported goods and ...