Venezuela’s Gross Domestic Product expanded by 6.65 percent during the second quarter of this year, marking the seventeenth consecutive quarter of economic recovery, according to official reports from the Central Bank. The financial institution’s press release highlighted particularly strong performance in the petroleum sector with 12.27 percent growth, while non-petroleum economic activities grew by 4.41 percent.

The non-oil sector demonstrated robust growth across multiple industries, with financial and insurance services leading at 13.96 percent expansion. Significant increases were also recorded in mining (7.90 percent), vehicle sales and repair services (7.72 percent), hospitality and food services (7.44 percent), and information/communications technology (8.64 percent). Manufacturing output rose by 5.13 percent, while education, healthcare, entertainment and related services showed combined growth of 4.51 percent alongside real estate and professional service sectors.

Central Bank officials emphasized this represents the seventeenth straight quarter of economic expansion since Q2 2021, demonstrating Venezuela’s economic resilience despite facing international financial instability and what authorities describe as «over one thousand unilateral aggressive measures» documented by the Venezuelan Anti-Blockade Observatory.

The report struck an optimistic tone, stating the Bolivarian Republic continues strengthening its economy «with determination, resilience and growing confidence in the recovery process.» This assessment follows President Nicolás Maduro’s recent prediction of nine percent annual GDP growth, citing consistent economic expansion across key sectors including agriculture, manufacturing, technology, natural gas and petroleum industries – which collectively drove Venezuela’s nine percent GDP growth in 2024 according to Central Bank data.