According to the Central Bank of Venezuela, the country’s GDP increased by 7.14% in the second quarter of 2026 compared with the same period last year. The main driver of growth was the oil industry: its activity rose by 9.1%, indicating a sustained acceleration in operations in the sector that is crucial to the economy. Non-oil activity also showed positive momentum, growing by 5.79%, supported by foreign-currency sales to manufacturing companies and closer interaction among various segments of the economy. Growth is taking place amid expanded access for private and international capital to the oil, mining, and electricity sectors, as well as cooperation between Caracas and Washington that began after January. Venezuela has thus extended its streak to 21 consecutive quarters of year-on-year growth.
Full version: Venezuelan GDP Increased 7.14% in the Second Quarter of 2026