Venezuelan President Nicolás Maduro speaks at the meeting of the Communal Coffee Plan 2025 in Lara state, July 17, 2025. Photo: Globovisión.
Venezuela’s Gross Domestic Product (GDP) grew over 6% in the second quarter (April-June) of 2025. This was announced by President Nicolás Maduro during the meeting of the Communal Coffee Plan 2025 in the state of Lara, on Thursday, July 17.
The president highlighted that this growth reflects an increase in “work and production” in the country. He further noted that this figure continues its trend of economic expansion. “Venezuela continues the path of growth. In total, we have had 17 continuous quarters of growth,” he said.
He added that during the first quarter (January-March), Venezuela recorded a 9% growth. “In the second quarter, the coup-mongers tried an economic war, again. I said that we were going to face it, that we were going to defeat it, and we are doing it,” he commented.
President Maduro added that in 2024, the Venezuelan economy grew 9%, compared to 5.5% in 2023, and “in 2022, we grew 15 points. This year, the first quarter GDP grew 9%, and in the second quarter it is above 6%. Thus, the averages indicate that we will close the year with good news for the economy of the people of Venezuela.”
“It is always positive to see how the country’s economy is growing. This is excellent news for the Venezuelan economy. Let’s move forward, always with the people, to achieve even greater production and growth,” he remarked.
Venezuela Increases Oil Production in June, OPEC Monthly Report (+PDVSA)
Details of GDP growth
At the 81st Annual Assembly of the business owners’ federation Fedecámaras on Thursday, July 17, Venezuelan Vice President Delcy Rodríguez stated that the Venezuelan economy is making steady progress. She presented a detailed report of the country’s economic growth.
Vice President Rodríguez emphasized the importance of collaboration between the government and the business sector. “There are four essential points of agreement and common points where together we have pushed forward,” she said, adding that in the last two years, the government held 40 high-level meetings with the business sector. In these meetings, joint issues were addressed. “It would have been impossible to achieve the union that we currently have without these meetings, which is so essential for the productive growth of the country, and I highlight that,” said the vice president.
“The US blockade is illegitimate and unjust and must end, you know the impact it has had on investments,” she commented. She added that after the suspension of some licenses, doomsday voices predicted chaos, but “from that day until today, we have increased oil production, thanks to the work of the industry, its workers, and our alliances.”
She further reported that the mining sector, apart from the oil sector, recorded the highest growth compared to 2024. The growth in gold production by Venezuelan state-owned plants reached an impressive 158%, while in the private sector it reached 52%.
“Venezuela’s gold, so desired, which a century and a half ago motivated the British theft of the Essequibo, is in a process of growth, which is very important to support our international reserves,” said Rodríguez.
In coal, the country experienced 186.5% growth, and 24.4% in iron. “There we have international investments, while the metallurgical sector is projecting 165% growth for the whole year,” she reported. Agribusiness have also shown significant growth: chicken 14%, pork 4%, milk 11%, eggs 2%, and vegetables 7%, in relation to the same period of 2024. “Today, we can say that there is a full supply of food items in Venezuela, thanks to the government’s assistance and support policies for the productive sectors,” she added.
Similarly, the fishing sector grew 6%, and the pharmaceutical sector reached a remarkable 83.6%. The credit portfolio increased by 21.8%, reaching an equivalent of $2.4 billion to support essential sectors.
(RedRadioVE, RedRadioVE) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/SC/SF
