Venezuela, RB: Net barter terms of trade index (2015 = 100)

Key figures

What the numbers say

In 2018, Venezuela, RB's net barter terms of trade index (2015 = 100) rose 20.9 on 2017 (from 98.3 to 119.2).

Across the 12 yearly changes before that (2006 to 2017), the average change was −0.85 and a typical year strayed about 31.53 from that (the standard deviation). This year's change was 0.7 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 33.3 in 2008 and the biggest yearly fall was 69.6 in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2009 to 2018 the straight-line trend is downward, about 7.3 a year. A straight line explains 33% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.

All 14 values

Net barter terms of trade index (2015 = 100) in nearby economies

• Antigua and Barbuda — 84 (2024)
• Argentina — 107 (2024)
• Aruba — 95.1 (2024)
• Bahamas, The — 96.5 (2024)
• Barbados — 95.7 (2024)
• Belize — 95.4 (2024)
• Bolivia — 84.9 (2024)
• Brazil — 120.8 (2024)
• British Virgin Islands — 59.5 (2024)
• Cayman Islands — 81.6 (2024)

More trade data for Venezuela, RB

• Tariff rate, applied, simple mean, manufactured products (%) — 13% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 15.25% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 13.81% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 15.71% (2022)
• Tariff rate, applied, simple mean, all products (%) — 12.74% (2022)
• Tariff rate, most favored nation, simple mean, all products (%) — 13.99% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 12.84% (2022)
• Tariff rate, most favored nation, weighted mean, all products (%)

Reading data like this

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Questions people ask

What is Venezuela, RB's net barter terms of trade index (2015 = 100)?

119.2 in 2018, according to the World Bank (World Development Indicators).

How has it changed since 2005?

It is up 9.86% from 108.5 in 2005 (0.73% a year on average, compounded). The highest value was 184.1 in 2012 and the lowest 83.9 in 2016.

Is the latest change in net barter terms of trade index (2015 = 100) unusual for Venezuela, RB?

In 2018, Venezuela, RB's net barter terms of trade index (2015 = 100) rose 20.9 on 2017 (from 98.3 to 119.2). Across the 12 yearly changes before that (2006 to 2017), the average change was −0.85 and a typical year strayed about 31.53 from that (the standard deviation). This year's change was 0.7 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: UN Conference on Trade and Development (UNCTAD).

Source

World Bank, World Development Indicators, indicator TT.PRI.MRCH.XD.WD, licensed CC BY 4.0. Original source: UN Conference on Trade and Development (UNCTAD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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