A door to enter the Venezuelan Central Bank. Photo: File photo.
Caracas (OrinocoTribune.com)—The Central Bank of Venezuela (BCV) has reported that the national economy grew by 8.66% in 2025 compared to 2024, following a 7.07% increase in the gross development product (GDP) during the fourth quarter of last year.
“This marks 19 consecutive quarters in which the Venezuelan economy has registered a higher level of economic activity, further strengthening its recovery process,” the institution stated in a press release published on its website and social media this Wednesday, March 4.
The monetary authority remarked on the significance of this recovery given the tightening of sanctions and aggression led by the US empire against the Venezuelan economy throughout 2025. The BCV noted that these milestones were achieved amidst “exceptional external circumstances,” characterized by financial restrictions and illegal sanctions that intensified during the final quarter of last year.
View this post on Instagram
Sanctions and military buildup
In February 2025, the US regime tightened its illegal blockade by revoking OFAC licenses previously issued during the last administration. This economic pressure was accompanied by an unprecedented US military buildup around Venezuela beginning in August, conducted under the pretext of combating drug trafficking. The situation escalated in December with the illegal confiscation of tankers carrying Venezuelan oil, a move designed to asphyxiate the nation’s primary revenue stream.
“The dynamism of economic activities that has been recorded since the second quarter of 2021,” the BCV added, “is an indicator that the Venezuelan economy is strengthening, advancing with poise, resilience, and confidence.”
Sector-specific growth
The BCV reported that oil activity grew by 13.4%, while non-oil activity expanded by 5.3% in the fourth quarter of 2025. Within the non-oil sector, the most significant growth rates were recorded in the following areas:
• Construction: 19.27%
• Mining: 19.25%
• Accommodation and food services: 8.17%
• Trade and vehicle repair: 7.21%
• Transport and storage: 6.95%
• Manufacturing: 6.05%
• Financial and insurance activities: 5.85%
• Education, health, and training services: 5.33%
• Agriculture: 5.10%
The institution emphasized that while oil contributes significant resources, activities such as construction, manufacturing, and agriculture generate strong internal linkages. By strengthening these value chains, the country ensures the sustainability of its economic growth.
Venezuelan Fishing Sector Grows by 23% in First Months of 2026
Devaluation and inflation
While the BCV has not published official inflation data in recent months, private economic firms estimate the rate was approximately 480% for 2025. This figure remains a significant challenge for the recovery process, despite the dual monetary environment where the US dollar has served as a reference for prices and payments since 2019.
The widening gap between the official exchange rate and the parallel market rate continues to place a heavy burden on consumer prices. In 2025, the official exchange rate began at 52.02 bolivars per US dollar and ended the year at 301.37 bolivars, representing a depreciation of 479.33%.
As of Wednesday, March 4, the official BCV exchange rate stands at 425.67 bolivars per US dollar, while the parallel market rate closed at 626.38 bolivars, based on USDT prices on the Binance P2P platform. This indicates that the US dollar on the parallel market is 47.15% more expensive than the official rate, a spread that incentivizes the use of black market references in retail transactions and maintains upward pressure on inflation.
Special for Orinoco Tribune by staff
OT/JRE/AU
