Venezuela’s Gross Domestic Product (GDP) showed an annual growth of 6.65% during the second quarter of 2025, according to official data from the Central Bank of Venezuela (BCV). This result continues the positive trend established for seventeen consecutive quarters, although it reflects a slowdown compared to the 9.32% observed in the first quarter of the year.
The oil sector, historically a pillar of the economy, recorded an annual growth of 12.27%, notably lower than the 18.23% achieved between January and March 2025. This drop of nearly 6 percentage points stands in contrast to the dynamism of the non-oil sector, which advanced by 4.41% in the second quarter, led by:
– Finance and insurance: +13.96%
– Mining: +7.90%
– Trade and vehicle repair: +7.72%
– Accommodation and food services: +7.44%
– Information and communications: +8.64%
Quarterly comparison and historical trend
When comparing both quarters of 2025, we observe:
– A moderation in consolidated growth (from 9.32% to 6.65%).
– Mining cut its expansion in half (13.46% in Q1 vs. 7.90% in Q2).
– Manufacturing (5.13%) and educational/health services (4.55%) maintained stable rates.
From a historical perspective, the GDP has accumulated four years of continuous growth, but with a clear downward trend since the peaks of 2022 (24.23% in Q2-2022). The last five quarters fluctuate between 6.65% and 9.32%, solidifying a phase of stabilization.
General context
Despite the petroleum slowdown, the economy demonstrates resilience, with advances in 11 of the 12 non-oil sectors measured by the BCV. The performance of the first half of 2025 (average: 7.99%) slightly exceeds the annual growth of 2024 (8.54%), supported by financial services, trade, and communications.
The data confirms the progressive diversification of the productive base, although the recovery pace still hinges on the evolution of the energy sector.