Bound rate, simple mean, primary products (%) in Venezuela
Venezuela: Bound rate, simple mean, primary products (%) was 45.0% in 2022. ▬ Flat
Bound rate, simple mean, primary products in Venezuela, 1995–2022
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
The most recent figure for bound rate, simple mean, primary products in Venezuela is 45.0%, measured in 2022.
The figure is down 0.5% over ten years.
Over the whole period, bound rate, simple mean, primary products in Venezuela peaked at 45.6% in 1997 and was at its lowest, 44.8%, in 2014.
That places Venezuela 51st out of 157 countries with data for 2022, putting it in the middle of the range.
Bound rate, simple mean, primary products (%) in Venezuela, year by year
| Year | % | Change |
|---|---|---|
| 1995 | 45.3% | — |
| 1997 | 45.6% | +0.7% |
| 1998 | 45.6% | +0.0% |
| 1999 | 45.6% | +0.0% |
| 2000 | 45.6% | +0.0% |
| 2001 | 45.6% | +0.0% |
| 2002 | 45.6% | +0.0% |
| 2003 | 45.6% | +0.0% |
| 2004 | 45.6% | +0.0% |
| 2005 | 45.6% | +0.0% |
| 2006 | 45.2% | -0.9% |
| 2007 | 45.2% | +0.0% |
| 2008 | 45.2% | +0.0% |
| 2009 | 45.2% | +0.0% |
| 2010 | 45.2% | +0.0% |
| 2011 | 45.2% | +0.0% |
| 2012 | 45.2% | +0.0% |
| 2013 | 45.2% | +0.0% |
| 2014 | 44.8% | -0.8% |
| 2015 | 44.8% | +0.0% |
| 2016 | 44.8% | +0.0% |
| 2017 | 45.0% | +0.3% |
| 2018 | 45.0% | +0.0% |
| 2019 | 45.0% | +0.0% |
| 2020 | 45.0% | +0.0% |
| 2021 | 45.0% | +0.0% |
| 2022 | 45.0% | +0.0% |
Venezuela compared with similar countries
- Venezuela's 45.0% is below the median for lower middle income countries, which is 46.0%, 98% of the median. (39 countries reporting)
- Venezuela's 45.0% is above the median for Latin America & Caribbean, which is 41.8%, 1.1× the median. (32 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 45.5% | 45.3% | 45.6% | 4 |
| 2000s | 45.5% | 45.2% | 45.6% | 10 |
| 2010s | 45.0% | 44.8% | 45.2% | 10 |
| 2020s | 45.0% | 45.0% | 45.0% | 3 |
Countries ranked near Venezuela
- 48 Morocco 47.4% compare
- 49 Vanuatu 46.0% compare
- 50 Djibouti 45.2% compare
- 52 Sierra Leone 44.8% compare
- 53 Guinea-Bissau 44.6% compare
- 54 Costa Rica 43.8% compare
More private sector data for Venezuela
- Merchandise trade 22.5% (2025)
- Food imports 18.4% (2013)
- Manufactures imports 70.7% (2013)
- Merchandise imports 13.80 billion current US$ (2025)
- Commercial service imports 5.95 billion current US$ (2025)
- Food exports 0.0% (2013)
- Manufactures exports 1.8% (2013)
- Merchandise exports 8.60 billion current US$ (2025)
- Commercial service exports 1.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 301.58 current US$ per person (2025)
Frequently asked questions
- What is bound rate, simple mean, primary products in Venezuela?
- Bound rate, simple mean, primary products in Venezuela was 45.0% in 2022, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, primary products recorded in Venezuela?
- The highest recorded value was 45.6% in 1997.
- What is the lowest bound rate, simple mean, primary products recorded in Venezuela?
- The lowest recorded value was 44.8% in 2014.
- How does Venezuela rank for bound rate, simple mean, primary products?
- Venezuela ranks 51st out of 157 countries with data for 2022.
- Is bound rate, simple mean, primary products rising or falling in Venezuela?
- Over the last ten years it is down 0.5%. The long-run trend across the full record is flat.
- Where does this Venezuela data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, primary products (%). Statizoid updates them automatically from the source API.
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About this data
Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).