Finance of Venezuela

The minimum monthly wage in Venezuela is 4 USD. Venezuela has a government debt of 49% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Venezuela is 56.2%. The currency of Venezuela is Venezuelan bolivar soberano. There are several plural forms of the name 'Venezuelan bolivar soberano'. These are bolivars, bolivares. The symbol used for this currency is Bs.S., and it is abbreviated as VEF. The Venezuelan bolivar soberano is divided into centimo; there are 100 in one bolivar soberano. Each year, consumers spend around $241,705 million. The ratio of consumer spending to GDP in Venezuela is 0.07%, and the ratio of consumer spending to the world consumer market is 56%. The corporate tax in Venezuela is set at 34%. Personal income tax ranges from 6% to 34%, depending on your specific situation and income level. VAT in Venezuela is 12%. In 2013, Venezuela received 48.1 million USD in foreign aid.In 2014, the foreign aid amounted to 44.8 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Venezuela is $540,898 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Venezuela was last recorded at $16,704,064. PPP in Venezuela is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Venezuela is 371,339 billion. Based on this statistic, Venezuela is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Venezuela. The Gross Domestic Product (GDP) per capita in Venezuela was last recorded at $11,467,727. The average citizen in Venezuela has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Venezuela averaged -3% in 2014. According to this percentage, Venezuela is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment.