Military expenditure (current LCU) in Venezuela
Venezuela: Military expenditure (current LCU) was 24,358,000,000.00 trillion current LCU in 2024. ◆ Volatile
Latest (2024)
24,358,000,000.00 trillion current LCU
Change on year
up 254.8%
World rank
1st
of 168 countries
All-time high
10,941,500,000.00 trillion current LCU
in 2023
All-time low
384,000 current LCU
in 1961
Years of data
65
1960–2024
Military expenditure in Venezuela, 1960–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current LCU.
Analysis
In 2024, military expenditure in Venezuela stood at 24,358,000,000.00 trillion current LCU. That is the highest value across all 65 years on record.
Compared with earlier readings it is up 254.8% on the previous year and up 29,180,900,000,000.0% over ten years.
Over the whole period, military expenditure in Venezuela peaked at 10,941,500,000.00 trillion current LCU in 2023 and was at its lowest, 384,000 current LCU, in 1961.
That places Venezuela 1st out of 168 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Military expenditure (current LCU) in Venezuela, year by year
| Year | current LCU | Change |
|---|---|---|
| 1960 | 785,000 current LCU | — |
| 1961 | 384,000 current LCU | -51.1% |
| 1962 | 683,000 current LCU | +77.9% |
| 1963 | 822,000 current LCU | +20.4% |
| 1964 | 872,000 current LCU | +6.1% |
| 1965 | 1.00 million current LCU | +14.7% |
| 1966 | 1.05 million current LCU | +5.0% |
| 1967 | 1.19 million current LCU | +13.3% |
| 1968 | 1.20 million current LCU | +0.8% |
| 1969 | 1.16 million current LCU | -3.3% |
| 1970 | 1.20 million current LCU | +3.4% |
| 1971 | 1.55 million current LCU | +29.2% |
| 1972 | 1.74 million current LCU | +12.3% |
| 1973 | 1.81 million current LCU | +4.0% |
| 1974 | 2.59 million current LCU | +43.1% |
| 1975 | 3.06 million current LCU | +18.1% |
| 1976 | 2.55 million current LCU | -16.7% |
| 1977 | 3.22 million current LCU | +26.3% |
| 1978 | 3.56 million current LCU | +10.6% |
| 1979 | 3.98 million current LCU | +11.8% |
| 1980 | 4.31 million current LCU | +8.3% |
| 1981 | 4.34 million current LCU | +0.7% |
| 1982 | 6.55 million current LCU | +50.9% |
| 1983 | 8.63 million current LCU | +31.8% |
| 1984 | 9.30 million current LCU | +7.8% |
| 1985 | 6.15 million current LCU | -33.9% |
| 1986 | 8.12 million current LCU | +32.0% |
| 1987 | 11.10 million current LCU | +36.7% |
| 1988 | 15.90 million current LCU | +43.2% |
| 1989 | 41.50 million current LCU | +161.0% |
| 1990 | 34.60 million current LCU | -16.6% |
| 1991 | 55.90 million current LCU | +61.6% |
| 1992 | 67.90 million current LCU | +21.5% |
| 1993 | 117.00 million current LCU | +72.3% |
| 1994 | 138.00 million current LCU | +17.9% |
| 1995 | 212.00 million current LCU | +53.6% |
| 1996 | 306.00 million current LCU | +44.3% |
| 1997 | 753.00 million current LCU | +146.1% |
| 1998 | 794.50 million current LCU | +5.5% |
| 1999 | 852.90 million current LCU | +7.4% |
| 2000 | 1.22 billion current LCU | +42.6% |
| 2001 | 1.38 billion current LCU | +13.8% |
| 2002 | 1.24 billion current LCU | -10.1% |
| 2003 | 1.59 billion current LCU | +27.6% |
| 2004 | 2.74 billion current LCU | +72.6% |
| 2005 | 5.57 billion current LCU | +103.3% |
| 2006 | 7.79 billion current LCU | +39.9% |
| 2007 | 9.34 billion current LCU | +19.9% |
| 2008 | 12.15 billion current LCU | +30.1% |
| 2009 | 8.71 billion current LCU | -28.4% |
| 2010 | 10.31 billion current LCU | +18.4% |
| 2011 | 15.35 billion current LCU | +48.9% |
| 2012 | 21.94 billion current LCU | +43.0% |
| 2013 | 37.50 billion current LCU | +70.9% |
| 2014 | 35.22 billion current LCU | -6.1% |
| 2015 | 56.72 billion current LCU | +61.1% |
| 2016 | 107.84 billion current LCU | +90.1% |
| 2017 | 4.44 trillion current LCU | +4017.1% |
| 2018 | 3,489.54 trillion current LCU | +78493.2% |
| 2019 | 5,391,340.00 trillion current LCU | +154400.0% |
| 2020 | 81,449,000.00 trillion current LCU | +1410.7% |
| 2021 | 431,282,000.00 trillion current LCU | +429.5% |
| 2022 | 3,083,840,000.00 trillion current LCU | +615.0% |
| 2023 | 10,941,500,000.00 trillion current LCU | +254.8% |
| 2024 | 24,358,000,000.00 trillion current LCU | +122.6% |
Venezuela compared with similar countries
- Venezuela's 24,358,000,000.00 trillion current LCU is above the median for lower middle income countries, which is 121.21 billion current LCU, 90270071818.4× the median. (40 countries reporting)
- Venezuela's 24,358,000,000.00 trillion current LCU is above the median for Latin America & Caribbean, which is 12.18 billion current LCU, 898460755211.2× the median. (24 countries reporting)
Biggest year-on-year movements
Years where Military expenditure (current LCU) in Venezuela changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2019 | +154400.0% | 3,489.54 trillion current LCU | 5,391,340.00 trillion current LCU |
| 2018 | +78493.2% | 4.44 trillion current LCU | 3,489.54 trillion current LCU |
| 2017 | +4017.1% | 107.84 billion current LCU | 4.44 trillion current LCU |
| 2020 | +1410.7% | 5,391,340.00 trillion current LCU | 81,449,000.00 trillion current LCU |
| 2022 | +615.0% | 431,282,000.00 trillion current LCU | 3,083,840,000.00 trillion current LCU |
| 2021 | +429.5% | 81,449,000.00 trillion current LCU | 431,282,000.00 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 914,600 current LCU | 384,000 current LCU | 1.20 million current LCU | 10 |
| 1970s | 2.53 million current LCU | 1.20 million current LCU | 3.98 million current LCU | 10 |
| 1980s | 11.59 million current LCU | 4.31 million current LCU | 41.50 million current LCU | 10 |
| 1990s | 333.18 million current LCU | 34.60 million current LCU | 852.90 million current LCU | 10 |
| 2000s | 5.17 billion current LCU | 1.22 billion current LCU | 12.15 billion current LCU | 10 |
| 2010s | 539,483.43 trillion current LCU | 10.31 billion current LCU | 5,391,340.00 trillion current LCU | 10 |
| 2020s | 7,779,214,200.00 trillion current LCU | 81,449,000.00 trillion current LCU | 24,358,000,000.00 trillion current LCU | 5 |
Countries ranked near Venezuela
More public sector data for Venezuela
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 98.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 3.46 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.001 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), annual growth rate -23.39 % change on previous year (2016)
Frequently asked questions
- What is military expenditure in Venezuela?
- Military expenditure in Venezuela was 24,358,000,000.00 trillion current LCU in 2024, according to SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI).
- What is the highest military expenditure recorded in Venezuela?
- The highest recorded value was 10,941,500,000.00 trillion current LCU in 2023.
- What is the lowest military expenditure recorded in Venezuela?
- The lowest recorded value was 384,000 current LCU in 1961.
- How does Venezuela rank for military expenditure?
- Venezuela ranks 1st out of 168 countries with data for 2024.
- Is military expenditure rising or falling in Venezuela?
- Over the last ten years it is up 29,180,900,000,000.0%. The long-run trend across the full record is volatile.
- Where does this Venezuela data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (current LCU). Statizoid updates them automatically from the source API.
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About this data
Military expenditure in local currency at current prices (by calendar year)