IMD World Competitiveness Booklet 2022

Venezuela Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Caracas

912 2021

63

63

63

63

2021

Exchange Rate (per $)

1,351,577.534

64

28.69 2021 25 46.5 2021 55 5,174 2021 63 -5.0 2021 63 55.50 2020 63 10.67 2021 27 -1.36 2021 41 25.5 2020 57 0.55 2016 47 2021 63

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Strengthen the regulatory framework: Investors require confidence in the law and public institutions. • Macro environment: moving from macroeconomic instability to the reconstruction economy. • Solve the problem of basic services and infrastructure for homes and industries. • Eliminate administrative barriers: simplify procedures. • Access to financing: there are good projects, companies with elements to expand their production capacity, but they do not have access to financing.

Real GDP growth (%)

Consumer price inflation (%)

1,588.51

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: National Council to Investment Promotion (CONAPRI)

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

33

39

45

48

53

57

58 62

62 63 62 63 62 62

63 63

63 63 62 60

PEER GROUPS RANKINGS THE AMERICAS (9 countries)

POPULATIONS > 20 MILLION (27 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

9

9

9

9

9

27

27

27

27

27

114 Competitiveness Country Profiles