Venezuelan President Nicolás Maduro announced on his program Maduro+ this Monday that the country’s economy grew by 7.71 percent during the first half of the year.

RELATED:

Venezuelan Pharmaceutical Market Grows 23.4% in First Half of 2025

President Maduro read a bulletin issued by the Central Bank of Venezuela with consolidated figures for the first six months of 2025, highlighting that the hydrocarbon sector – which grew by 14.99% – was the primary driver of this growth, recovering through its own efforts.

Maduro emphasized that Venezuela, with or without Chevron, continues to grow significantly and advance through its own efforts. He noted that in oil fields where Chevron operations remained in limbo, production has been maintained through domestic efforts and workers’ dedication.

According to the Central Bank report read by the President, the mining sector showed strong and stable growth of 11.23%, while accommodation and food services grew by 8.25%. The commerce sector, described as one of the economy’s main engines, expanded by 7.19%. Information and telecommunications grew 7.13%, with manufacturing increasing by 6.24%.

Maduro characterized this growth as indicative of a new, diversified economy that is breaking away from oil dependence in practice – producing both for domestic supply and beginning to manufacture for export. The agricultural sector showed overall growth of 4.6%, with livestock production increasing 7%. Particularly notable was poultry growth at 14%, with the President highlighting Venezuela’s transition from importing chicken from Colombia, Brazil and Argentina to domestic organic production. Egg production rose 2%, cow milk production increased 2%, and goat milk production surged 11%.

During his July 24 teleSUR appearance, Maduro reported first quarter growth reaching 9%, though the economy experienced slight contraction between April and June due to tightened U.S. sanctions. Overall growth still exceeded 6% across employment, economic expansion and production.

“The economy has demonstrated remarkable resilience after near-collapse,” Maduro stated. “We now operate on two fundamental principles: producing to meet domestic needs through national output, and generating wealth through non-oil exports.” The President described building a new, robust and balanced economic model based on productivity, acknowledging Venezuela’s unique challenges as a blockaded nation without access to external financing. He affirmed success in redirecting the economy despite the blockade while ensuring internal market stability through purchasing power and consistent supply.

IN THIS ARTICLE