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Total natural resource rents in Venezuela

Venezuela: Total natural resource rents was 11.8% in 2014. ▲ Rising

Latest (2014)
11.8%
Change on year
down 32.8%
World rank
43rd
of 211 countries
All-time high
36.5%
in 1979
All-time low
5.5%
in 1970
Years of data
45
1970–2014

Total natural resource rents in Venezuela, 1970–2014

102030401970199220141970: 5.5 % of GDP1971: 7.4 % of GDP1972: 7.2 % of GDP1973: 10.8 % of GDP1974: 33.9 % of GDP1975: 24.9 % of GDP1976: 23 % of GDP1977: 16.2 % of GDP1978: 15.8 % of GDP1979: 36.5 % of GDP1980: 34.4 % of GDP1981: 24.8 % of GDP1982: 13.1 % of GDP1983: 17.1 % of GDP1984: 19 % of GDP1985: 16.3 % of GDP1986: 8 % of GDP1987: 15.9 % of GDP1988: 10 % of GDP1989: 21 % of GDP1990: 29.3 % of GDP1991: 16.7 % of GDP1992: 15.8 % of GDP1993: 15.8 % of GDP1994: 16.2 % of GDP1995: 15.1 % of GDP1996: 23.8 % of GDP1997: 18.1 % of GDP1998: 9.1 % of GDP1999: 13.3 % of GDP2000: 20.6 % of GDP2001: 15.3 % of GDP2002: 19.5 % of GDP2003: 21.9 % of GDP2004: 23.8 % of GDP2005: 29.2 % of GDP2006: 28.1 % of GDP2007: 23.1 % of GDP2008: 23.9 % of GDP2009: 10.5 % of GDP2010: 12.4 % of GDP2011: 24.5 % of GDP2012: 18.8 % of GDP2013: 17.6 % of GDP2014: 11.8 % of GDP

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

Venezuela recorded 11.8% for total natural resource rents in 2014.

That represents a change of down 32.8% on the previous year and down 50.3% over ten years.

Over the whole period, total natural resource rents in Venezuela peaked at 36.5% in 1979 and was at its lowest, 5.5%, in 1970.

Venezuela ranks 43rd of 211 countries on this measure, in the top quarter.

The long-run direction has been consistently rising across the 45 years of available data.

Total natural resource rents in Venezuela, year by year

Year % of GDP Change
1970 5.5% —
1971 7.4% +34.6%
1972 7.2% -2.6%
1973 10.8% +49.5%
1974 33.9% +215.6%
1975 24.9% -26.7%
1976 23.0% -7.6%
1977 16.2% -29.6%
1978 15.8% -2.3%
1979 36.5% +130.5%
1980 34.4% -5.6%
1981 24.8% -28.1%
1982 13.1% -47.0%
1983 17.1% +30.4%
1984 19.0% +11.3%
1985 16.3% -14.3%
1986 8.0% -50.9%
1987 15.9% +98.9%
1988 10.0% -37.1%
1989 21.0% +109.4%
1990 29.3% +39.6%
1991 16.7% -43.0%
1992 15.8% -5.4%
1993 15.8% +0.2%
1994 16.2% +2.7%
1995 15.1% -6.7%
1996 23.8% +57.5%
1997 18.1% -24.1%
1998 9.1% -49.9%
1999 13.3% +46.4%
2000 20.6% +55.1%
2001 15.3% -25.4%
2002 19.5% +26.8%
2003 21.9% +12.5%
2004 23.8% +8.8%
2005 29.2% +22.6%
2006 28.1% -3.9%
2007 23.1% -17.7%
2008 23.9% +3.5%
2009 10.5% -55.9%
2010 12.4% +17.4%
2011 24.5% +97.7%
2012 18.8% -23.3%
2013 17.6% -6.2%
2014 11.8% -32.8%

Venezuela compared with similar countries

  • Venezuela's 11.8% is above the median for lower middle income countries, which is 4.4%, 2.7× the median. (47 countries reporting)
  • Venezuela's 11.8% is above the median for Latin America & Caribbean, which is 0.7%, 17.8× the median. (40 countries reporting)

Averages by decade

DecadeAverage LowestHighest Years
1970s 18.1% 5.5% 36.5% 10
1980s 18.0% 8.0% 34.4% 10
1990s 17.3% 9.1% 29.3% 10
2000s 21.6% 10.5% 29.2% 10
2010s 17.0% 11.8% 24.5% 5

Countries ranked near Venezuela

  1. 40 South Sudan 13.1% compare
  2. 41 Sudan 12.8% compare
  3. 42 Peru 12.7% compare
  4. 44 Kyrgyzstan 11.5% compare
  5. 45 Mauritania 11.4% compare
  6. 46 Somalia 11.2% compare

See the full ranking of 211 places →

More reference data data for Venezuela

All data for Venezuela →

Frequently asked questions

What is total natural resource rents in Venezuela?
Total natural resource rents in Venezuela was 11.8% 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 total natural resource rents recorded in Venezuela?
The highest recorded value was 36.5% in 1979.
What is the lowest total natural resource rents recorded in Venezuela?
The lowest recorded value was 5.5% in 1970.
How does Venezuela rank for total natural resource rents?
Venezuela ranks 43rd out of 211 countries with data for 2014.
Is total natural resource rents rising or falling in Venezuela?
Over the last ten years it is down 50.3%. The long-run trend across the full record is rising.
Where does this Venezuela 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 Total natural resource rents. Statizoid updates them automatically from the source API.

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Total natural resource rents in Venezuela. Statizoid, drawing on The Changing Wealth of Nations, World Bank staff estimates, via World Bank (2026) – processed by Our World in Data. Retrieved 23 September 2026, from https://reference.statizoid.com/stat/natural-resource-rents/venezuela-rb/

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About this data

Indicator
Total natural resource rents
Unit
% of GDP
Source
The Changing Wealth of Nations, World Bank staff estimates, via World Bank (2026) – processed by Our World in Data
Licence
CC BY 4.0 (Our World in Data)
Coverage
211 places, 9,209 data points, 1970–2021
Last refreshed

Natural resources rents are estimated as the difference between the price of a commodity and the average cost of producing it. Total natural resources rents are the sum of oil rents, natural gas rents, coal rents, mineral rents, and forest rents.