IMD World Competitiveness Booklet 2021

COMPETITIVENESS TRENDS - OVERALL VENEZUELA

OVERALL PERFORMANCE (64 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Caracas

2017 2018 2019 2020 2021

912 2020

63

63

63

63

2020

Exchange Rate (per $)

50,000.443

64

27.95 2020 47.3 2020 5,178 2020 -30.0 2020 55.50 2020 16.03 2018 -3.52 2020 24.6 2019 0.55 2016 2,355.15 2020

27

Population - market size (millions)

CHALLENGES IN 2021 Strengthen the regulatory framework: investors require trust in the law and public institutions. • Strengthen the regulatory framework: investors require trust in the law and public institutions. • Macro environment: to stop GDP contraction the country needs to move from macroeconomic instability to the reconstruction economy by continuing to relax the controls policy that began in 2003. • Solve hyperinflation: the IMF forecasts 5,500% in 2021. • Solve the problem of basic services and infrastructure to households and industries. • Eliminate administrative barriers: simplify procedures.

57

Gross Domestic Product (GDP) (US$ billions)

64

GDP (PPP) per capita (US$)

64

Real GDP growth (%)

64

Consumer price inflation (%)

64

Unemployment rate (%)

25

Labor force (millions)

58

Current account balance (% of GDP)

58

Direct investment stocks inward ($bn)

National Council to Investment Promotion (CONAPRI) Provided by: National Council to Investment Promotion (CONAPRI)

56

Direct investment flows inward (% of GDP)

COMPETITIVENESS LANDSCAPE

Economic Performance

Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance

Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

35

38

38

49

51 51

52

62 64

62 59 57

63

63

63

64 64

64

64

64

PEER GROUPS RANKINGS THE AMERICAS (9 countries)

POPULATIONS > 20 MILLION (29 countries)

2017 2018 2019 2020 2021

2017 2018 2019 2020 2021

29

29

29

29

29

9

9

9

9

9

115

IMD WORLD COMPETITIVENESS BOOKLET 2021