IMD World Competitiveness Booklet 2020

COMPETITIVENESS TRENDS - OVERALL VENEZUELA

OVERALL PERFORMANCE (63 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Caracas

2016 2017 2018 2019 2020

912 2019

61

2019

Exchange Rate (per $)

45,336.100

63

63

63

63

27.53 2019 70.1 2019 7,338 2019 -26.8 2019 6.90 2018 16.03 2018 7.01 2019 23.1 2018 0.55 2016 19,906.02 2019

27

Population - market size (millions)

CHALLENGES IN 2020 Strengthen the rule of law: studies qualify the country as governed by an authoritarian regime, impacting all aspects of life. • Strengthen the rule of law: studies qualify the country as governed by an authoritarian regime, impacting all aspects of life. • Liberate the economy: the exchange mechanisms and price controls since 2003 were relaxed in 2019. However, new measures were implemented in fight against Covid-19. • Solve hyperinflation: the IMF forecasts 15,000% in 2020. • Solve the problem of basic services: in 2020, the fall in oil prices/production and Covid-19 make access difficult. • Eliminate administrative barriers: simplify procedures.

53

Gross Domestic Product (GDP) (US$ billions)

63

GDP (PPP) per capita (US$)

63

Real GDP growth (%)

63

Consumer price inflation (%)

49

Unemployment rate (%)

25

Labor force (millions)

9

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)

55

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

15

37

42

52

52

56

57

62

62 59 60

63 63

63

63 63 63

63

63 63

PEER GROUPS RANKINGS THE AMERICAS (9 countries)

POPULATIONS > 20 MILLION (29 countries)

2016 2017 2018 2019 2020

2016 2017 2018 2019 2020

28

29

29

29

29

9

9

9

9

9

116

IMD WORLD COMPETITIVENESS BOOKLET 2020