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YesHello, can anyone please help me update this economic overview of Venezuela to include the period between 2015 and 2021 I will really appreciate your
YesHello, can anyone please help me update this economic overview of Venezuela to include the period between 2015 and 2021 I will really appreciate your help. Thanks in advance Economic overview The natural resources in Venezuela include natural gas, petroleum, gold, diamonds, and other minerals. The Real GDP growth rate in Venezuela has been estimated to be -15.76% in 2017, -14% in 2017, and -19.67% in the year 2018. Inflation rates have been observed to rise in the current years. For instance, in 2017, it was 418.8%.2018 45,518.1% and 2019 146,101.7%. The country is compared to the world at an estimated rate of 228%.GDP is compared in various sectors; for instance, agriculture had a high rate for GDP in 2017 of 4.7%,industry 40.4%, while services had 54.9% ("REPBLICA BOLIVARIANA de VENEZUELA"). Agricultural products produced in the country are sugar cane, milk, maize, rice, bananas, potatoes, pineapples, and beef. Various industries are located in Venezuela, such as livestock, transport equipment, crude and petroleum products, chemicals, medical equipment, construction equipment, and pharmaceuticals (John 2019). Its production in the industry has grown by a rate of -2%, according to the data accumulated in 2017. The labor force in the industries has been illustrated to be 14.2 million in 2017. The rate of unemployment in Venezuela has decreased in recent years; for instance, in 2017, a rate of 27.1% and 6.9% in 2018 were displayed. The taxes and various revenues in Venezuela had displayed a rate of 44.2% in GDP in the year 2017. Public debt by the country rate has increased in recent years; for instance, in 2016, a GDP of 31.35 was illustrated, while 2027, a GDP of 38.9. This debt entailed treasury debt held by foreign entities, debts provided by subnational entities, and intergovernmental debts based on medical care, unemployment and retirements. The graph below illustrates the composition by use in 2017 and 2016 rated with the GPD in percentage. Category Government consumption Investments in fixed capital Investment in inventories GDP GDP 19.5 17.9 13.9 14.7 1.7 8 Consumption 2017 2016 Household consumption 68.5 69.7 Exports of goods and services 7 6
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