Latin America & Caribbean vs Venezuela: Oil rents
Latin America & Caribbean
1.9%
in 2021
Venezuela
11.3%
in 2014
Latin America & Caribbean rank
21st
Venezuela rank
18th
Oil rents over time
- Latin America & Caribbean
- Venezuela
How they compare
Venezuela currently reports 11.3% against 1.9% in Latin America & Caribbean, a difference of 9.4%.
That makes Venezuela's figure about 5.9 times Latin America & Caribbean's.
Across all 45 years both countries report, Venezuela has been ahead every year.
Latin America & Caribbean ranks 21st and Venezuela ranks 18th of 47 groups.
Venezuela has averaged higher in every one of the 5 decades both report.
Head to head by decade
| Decade | Latin America & Caribbean | Venezuela | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 2.4% | 17.5% | 15.1% | Venezuela |
| 1980s | 4.3% | 17.3% | 13.0% | Venezuela |
| 1990s | 2.1% | 16.6% | 14.5% | Venezuela |
| 2000s | 3.7% | 20.7% | 17.0% | Venezuela |
| 2010s | 3.4% | 16.2% | 12.8% | Venezuela |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher oil rents, Latin America & Caribbean or Venezuela?
- Venezuela, at 11.3% against 1.9% in Latin America & Caribbean as of 2014.
- What is the difference in oil rents between Latin America & Caribbean and Venezuela?
- 9.4%, with Venezuela ahead.
- How many years of comparable data are there for Latin America & Caribbean and Venezuela?
- 45 years are reported by both, from 1970 to 2014.
- How do Latin America & Caribbean and Venezuela rank globally for oil rents?
- Latin America & Caribbean ranks 21st and Venezuela ranks 18th of 47 groups.
- Where does this data come from?
- The Changing Wealth of Nations, World Bank (WB), published as Oil rents (% of GDP). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.