Oil rents as a share of GDP in Venezuela, Bolivarian Republic of
Venezuela, Bolivarian Republic of: Oil rents as a share of GDP was 11.3% in 2014. ▲ Rising
Oil rents as a share of GDP in Venezuela, Bolivarian Republic of, 1970–2014
Source: The Changing Wealth of Nations, World Bank staff estimates, via World Bank (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for oil rents as a share of gdp in Venezuela, Bolivarian Republic of is 11.3%, measured in 2014.
The figure is down 32.6% on the previous year and down 51.0% over ten years.
Over the whole period, oil rents as a share of gdp in Venezuela, Bolivarian Republic of peaked at 35.9% in 1979 and was at its lowest, 4.8%, in 1970.
Venezuela, Bolivarian Republic of ranks 18th of 199 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 45 years of available data.
Oil rents as a share of GDP in Venezuela, Bolivarian Republic of, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 4.8% | — |
| 1971 | 6.8% | +41.4% |
| 1972 | 6.7% | -1.4% |
| 1973 | 10.3% | +53.7% |
| 1974 | 33.3% | +224.1% |
| 1975 | 24.0% | -27.9% |
| 1976 | 22.2% | -7.8% |
| 1977 | 15.7% | -28.9% |
| 1978 | 15.5% | -1.8% |
| 1979 | 35.9% | +132.2% |
| 1980 | 33.6% | -6.5% |
| 1981 | 24.2% | -28.0% |
| 1982 | 12.7% | -47.4% |
| 1983 | 16.5% | +30.1% |
| 1984 | 18.3% | +10.7% |
| 1985 | 15.6% | -14.8% |
| 1986 | 7.4% | -52.8% |
| 1987 | 15.2% | +106.8% |
| 1988 | 9.5% | -37.6% |
| 1989 | 20.0% | +110.8% |
| 1990 | 28.1% | +40.1% |
| 1991 | 15.6% | -44.3% |
| 1992 | 14.9% | -4.4% |
| 1993 | 15.0% | +0.2% |
| 1994 | 15.4% | +2.8% |
| 1995 | 14.6% | -5.4% |
| 1996 | 23.1% | +58.5% |
| 1997 | 17.5% | -24.1% |
| 1998 | 8.6% | -51.0% |
| 1999 | 12.8% | +49.8% |
| 2000 | 20.0% | +55.8% |
| 2001 | 14.8% | -26.0% |
| 2002 | 18.7% | +26.6% |
| 2003 | 21.2% | +13.0% |
| 2004 | 23.1% | +9.0% |
| 2005 | 28.1% | +21.5% |
| 2006 | 26.8% | -4.4% |
| 2007 | 21.6% | -19.4% |
| 2008 | 22.7% | +4.9% |
| 2009 | 10.0% | -56.1% |
| 2010 | 11.7% | +17.4% |
| 2011 | 23.1% | +97.9% |
| 2012 | 17.9% | -22.5% |
| 2013 | 16.8% | -6.5% |
| 2014 | 11.3% | -32.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 17.5% | 4.8% | 35.9% | 10 |
| 1980s | 17.3% | 7.4% | 33.6% | 10 |
| 1990s | 16.6% | 8.6% | 28.1% | 10 |
| 2000s | 20.7% | 10.0% | 28.1% | 10 |
| 2010s | 16.2% | 11.3% | 23.1% | 5 |
Countries ranked near Venezuela, Bolivarian Republic of
- 15 Equatorial Guinea 14.9% compare
- 16 Kazakhstan 14.8% compare
- 17 Algeria 14.5% compare
- 19 Bahrain 10.9% compare
- 20 South Sudan 10.4% compare
- 21 Brunei Darussalam 10.4% compare
More energy & mining data for Venezuela, Bolivarian Republic of
- 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 oil rents as a share of gdp in Venezuela, Bolivarian Republic of?
- Oil rents as a share of gdp in Venezuela, Bolivarian Republic of was 11.3% in 2014, according to The Changing Wealth of Nations, World Bank staff estimates, via World Bank (2026) – processed by Our World in Data.
- What is the highest oil rents as a share of gdp recorded in Venezuela, Bolivarian Republic of?
- The highest recorded value was 35.9% in 1979.
- What is the lowest oil rents as a share of gdp recorded in Venezuela, Bolivarian Republic of?
- The lowest recorded value was 4.8% in 1970.
- How does Venezuela, Bolivarian Republic of rank for oil rents as a share of gdp?
- Venezuela, Bolivarian Republic of ranks 18th out of 199 countries with data for 2014.
- Is oil rents as a share of gdp rising or falling in Venezuela, Bolivarian Republic of?
- Over the last ten years it is down 51.0%. The long-run trend across the full record is rising.
- Where does this Venezuela, Bolivarian Republic of data come from?
- The figures come from The Changing Wealth of Nations, World Bank staff estimates, via World Bank (2026) – processed by Our World in Data, published as part of Oil rents as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Economic profits generated from oil extraction, measured as the difference between production value and costs, expressed as a percentage of gross domestic product.