General Information

Growing exporter driven by the development of hydrocarbons (56%), as well as the chemical industry at 27%.
(Source: Central Statistical Office)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 21,624

millions

USD 0.4%

 

USD 15,769

 

Economic Statistics (years 2014 - forecast 2019)

National Accounts 2014 2015 2016 2017 f.2018 f.2019
             
GDP growth (%) -0.3% 1.5% -6.0% -2.6% 0.6% 1.1%
Nominal GDP (USD millions) 27,200 24,402 22,296 21,624 22,155 22,533
GDP per Head (USD) 20,081 17,942 16,334 15,769 16,078 16,281
Inflation (%) 8.4% 1.6% 3.1% 1.3% 2.4% 2.9%
Fiscal Balance (% GDP) -5.4% -8.3% -12.4% -11.1% -9.3% -8.2%
General Govt. gross debt (% GDP) 25.4% 27.9% 37.5% 41.3% 41.7% 44.7%
   

Trade Statistics

 

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 34.8%   US   23.8%
Argentina 9.0%   Russia   15.3%
Taiwan 4.3%   Colombia   11.1%
Chile 3.6%   Gabon    10.5%
           
By products     By products  
Fuels and mining prod. 70.7%   Manufactures 51.3%
Manufactures 26.5%   Fuels and mining prod. 37.2%
Agricultural products 2.7%   Agricultural products 11.3%
   
Balance of Payments (USD millions) 2014 2015 2016 2017 f.2018 f.2019
             
Exports of Goods 14,965 11,131 8,245 9,437 10,815 11,439
Exports growth (%) -14.9% -25.6% -25.9% 14.5% 14.6% 5.8%
Imports of Goods 8,558 8,602 9,373 9,959 10,578 10,821
Imports growth (%) -14.4% 0.5% 9.0% 6.3% 6.2% 2.3%
Foreign Trade (% GDP) 86% 81% 79% 90% 97% 99%
             
Current Account Balance 4,006 940 -2,554 -2,055 -1,679 -1,281
% GDP 15.3% 4.0% -11.7% -10.0% -7.6% -5.7%
Foreign Direct Investment 665 383 -59 750 850 900
% GDP 2.5% 1.6% -0.3% 3.6% 3.8% 4.0%
   

 

Disclaimer

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