Venezuela: value of military spending 2013-2022

Published by Statista Research Department, Jul 5, 2024
In 2022, the Venezuelan government reported approximately 4.8 million U.S. dollars worth of military expenses, more than double the expenditure of the previous year. However, the data for Venezuela remains uncertain due to very high rates of inflation and currency depreciation in the country.

Military expenditure in Venezuela from 2013 to 2022 (in million U.S. dollars)

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Source

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Release date

2023

Region

Venezuela

Survey time period

2013 to 2022

Special properties

based on 2021 constant prices and exchange rates

Supplementary notes

* The source informs that data for the indicated years remains uncertain due to very high rates of inflation and currency depreciation in the country.
The source provides the following additional information: "The figures for Venezuela include off-budget military spending from the National Development Fund FONDEN, created in 2005 and funded by contributions from the Central Bank and the state oil company PDVSA. Actual figures for FONDEN are from 2005-2015, estimates are made for 2016 and 2017 based on 5-year rolling average of the share of off-budget spending to total military spending."
There was no data available for 2020 and 2021.

Figures have been rounded.

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