Explicit fossil fuel subsidies as a share of GDP in Venezuela
Venezuela: Explicit fossil fuel subsidies as a share of GDP was 6.0% in 2024. ◆ Volatile
Explicit fossil fuel subsidies as a share of GDP in Venezuela, 2010–2024
Source: United Nations Environment Programme – with minor processing by Our World in Data. Measured in %.
Analysis
The most recent figure for explicit fossil fuel subsidies as a share of gdp in Venezuela is 6.0%, measured in 2024.
Compared with earlier readings it is down 45.9% on the previous year and up 258.4% over ten years.
Over the whole period, explicit fossil fuel subsidies as a share of gdp in Venezuela peaked at 15.7% in 2022 and was at its lowest, 1.6%, in 2016.
That places Venezuela 10th out of 194 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Explicit fossil fuel subsidies as a share of GDP in Venezuela, year by year
| Year | % | Change |
|---|---|---|
| 2010 | 6.2% | — |
| 2011 | 7.6% | +21.5% |
| 2012 | 8.4% | +10.9% |
| 2013 | 9.2% | +10.0% |
| 2014 | 7.8% | -15.4% |
| 2015 | 1.7% | -78.8% |
| 2016 | 1.6% | -3.0% |
| 2017 | 2.6% | +59.6% |
| 2018 | 4.4% | +72.0% |
| 2019 | 7.6% | +71.3% |
| 2020 | 5.8% | -23.1% |
| 2021 | 10.0% | +71.1% |
| 2022 | 15.7% | +58.0% |
| 2023 | 11.0% | -30.1% |
| 2024 | 6.0% | -45.9% |
Venezuela compared with similar countries
- Venezuela's 6.0% is above the median for lower middle income countries, which is 0.0%, 148.8× the median. (47 countries reporting)
- Venezuela's 6.0% is above the median for Latin America & Caribbean, which is 0.0%, 198.3× the median. (34 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.7% | 1.6% | 9.2% | 10 |
| 2020s | 9.7% | 5.8% | 15.7% | 5 |
Countries ranked near Venezuela
More energy & mining data for Venezuela
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, annual growth rate -1.48 % change on previous year (2025)
- Coal consumption, per capita 0 terawatt-hours per person (2025)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per capita 0 terawatt-hours per person (2025)
- Coal production, per capita 0 terawatt-hours per person (2025)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2025)
- Fuel imports 0.8% (2013)
Frequently asked questions
- What is explicit fossil fuel subsidies as a share of gdp in Venezuela?
- Explicit fossil fuel subsidies as a share of gdp in Venezuela was 6.0% in 2024, according to United Nations Environment Programme – with minor processing by Our World in Data.
- What is the highest explicit fossil fuel subsidies as a share of gdp recorded in Venezuela?
- The highest recorded value was 15.7% in 2022.
- What is the lowest explicit fossil fuel subsidies as a share of gdp recorded in Venezuela?
- The lowest recorded value was 1.6% in 2016.
- How does Venezuela rank for explicit fossil fuel subsidies as a share of gdp?
- Venezuela ranks 10th out of 194 countries with data for 2024.
- Is explicit fossil fuel subsidies as a share of gdp rising or falling in Venezuela?
- Over the last ten years it is up 258.4%. The long-run trend across the full record is volatile.
- Where does this Venezuela data come from?
- The figures come from United Nations Environment Programme – with minor processing by Our World in Data, published as part of Explicit fossil fuel subsidies as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Fossil-fuel subsidies (consumption and production) as a proportion of total GDP (%).