Oil rents in Venezuela, Bolivarian Republic of
Venezuela, Bolivarian Republic of: Oil rents was 11.3% in 2014. ▲ Rising
Oil rents in Venezuela, Bolivarian Republic of, 1970–2014
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
The most recent figure for oil rents in Venezuela, Bolivarian Republic of is 11.3%, measured in 2014.
That represents a change of down 32.6% on the previous year and down 51.0% over ten years.
Over the whole period, oil rents 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 201 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 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 in Venezuela, Bolivarian Republic of?
- Oil rents in Venezuela, Bolivarian Republic of was 11.3% in 2014, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Venezuela, Bolivarian Republic of?
- The highest recorded value was 35.9% in 1979.
- What is the lowest oil rents 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?
- Venezuela, Bolivarian Republic of ranks 18th out of 201 countries with data for 2014.
- Is oil rents 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 (WB), published as part of Oil rents (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.