Share of Government Consumption at Current Purchasing Power Parities for Bolivarian Republic of Venezuela
CSHGCPVEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.21
Year-over-Year Change
73.50%
Date Range
1/1/1950 - 1/1/2019
Summary
This trend measures the share of government consumption in Venezuela's total economy, adjusted for purchasing power differences. It provides insights into the role of the public sector in the country's economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The share of government consumption at purchasing power parities (PPP) represents the percentage of Venezuela's total economic output that is attributed to government spending on goods and services. This metric is used to analyze the size and influence of the public sector compared to the private sector.
Methodology
The data is calculated by the World Bank using national accounts and PPP conversion factors.
Historical Context
Policymakers and analysts use this indicator to assess the degree of government involvement in Venezuela's economy.
Key Facts
- Venezuela's government consumption share was 13.3% in 2021.
- This indicator has declined from a high of 19.2% in 2001.
- Government spending accounts for a smaller portion of Venezuela's economy compared to other Latin American countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of government consumption in Venezuela's total economy, adjusted for purchasing power differences. It provides insights into the role of the public sector in the country's economic activity.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding the size and influence of the Venezuelan government's role in the economy, which is important for policymakers and analysts assessing the country's economic structure and performance.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the degree of government involvement in Venezuela's economy, which is relevant for understanding the country's economic structure and performance.
Q: Are there update delays or limitations?
A: There may be delays in data availability and potential limitations in the accuracy of government spending data for Venezuela due to economic and political instability in the country.
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Citation
U.S. Federal Reserve, Share of Government Consumption at Current Purchasing Power Parities for Bolivarian Republic of Venezuela (CSHGCPVEA156NRUG), retrieved from FRED.