Venezuela's economy saw a year-over-year growth of 9.3% in the first quarter of 2025, according to the country's central bank. This marks a slight increase compared to the 9.1% growth rate recorded in the same period last year.
The central bank's report, released on Thursday, also highlighted a significant 18.23% rise in Venezuela's oil activity during the first quarter, reflecting a continued recovery in the country’s key oil sector. Despite this growth, analysts caution that the country's economic outlook for the remainder of the year may be negatively impacted by the intensification of U.S. sanctions.
These sanctions, which have been a long-standing source of economic pressure, include a new deadline of May 27 for foreign partners of state oil company PDVSA to cease operations. Additionally, new tariffs on oil and gas exports could further strain Venezuela’s economic performance.
While the government has repeatedly blamed sanctions for the country’s ongoing economic difficulties, the reported growth in both the overall economy and the oil sector suggests some resilience in the face of these external pressures.
The Venezuelan economy continues to navigate the complex landscape of international sanctions, internal reforms, and oil market fluctuations, with much uncertainty surrounding its future growth prospects.
The U.S. Supreme Court issued an order early Saturday blocking the deportation of alleged Venezuelan gang members from Texas under the Alien Enemies Act, a wartime law from 1798.
Azerbaijan and Venezuela have reaffirmed their commitment to strengthening bilateral ties, following high-level talks on economic, political, and multilateral cooperation at the Antalya Diplomacy Forum.
Dozens of Venezuelan migrants have been repatriated from the U.S. under a bilateral agreement with Caracas.
China has strongly criticized U.S. President Donald Trump's recent executive order, which threatens to impose a 25% tariff on all goods imported to the U.S. from any country that imports oil from Venezuela.
U.S. officials defended their decision to deploy extraordinary wartime powers to deport 137 Venezuelan migrants to El Salvador last weekend, despite a federal judge’s temporary block and Venezuelan authorities denying that the individuals were affiliated with criminal gangs.
Mercedes-Benz(MBGn.DE), opens new tab plans to begin producing a new vehicle at its Tuscaloosa, Alabama, plant in 2027, the company said Thursday, the latest in a series of investments carmakers have announced following U.S. President Donald Trump's aggressive auto tariffs.
Australians voiced a mix of optimism and apathy Friday as they geared up to vote in Saturday’s tight national election, with cost-of-living pressures, housing affordability and U.S. tariff tensions shaping the contest.
Iran and Azerbaijan have signed a landmark agreement to develop cross-border communication corridors and data transit routes, marking a significant step toward enhanced regional digital connectivity.
Mongolia’s Mineral Resources and Petroleum Authority and the Korea Gas Safety Corporation signed a Memorandum of Understanding on April 29, 2025, to enhance cooperation on flammable gas safety.
South Korea’s Prime Minister and Acting President Han Duck-soo has resigned and announced his presidential bid, pledging to shorten his term to three years in order to pursue constitutional reform and apply his economic expertise to address the ongoing trade crisis.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
A vehicle crashed into a crowd at a Filipino festival in Vancouver, killing 11 and injuring dozens.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
A massive explosion at Shahid Rajaee Port in southern Iran on Saturday killed at least four people and injured nearly 600 others, officials said, prompting an urgent government investigation.
Australians voiced a mix of optimism and apathy Friday as they geared up to vote in Saturday’s tight national election, with cost-of-living pressures, housing affordability and U.S. tariff tensions shaping the contest.
Mongolia’s Mineral Resources and Petroleum Authority and the Korea Gas Safety Corporation signed a Memorandum of Understanding on April 29, 2025, to enhance cooperation on flammable gas safety.
South Korea’s Prime Minister and Acting President Han Duck-soo has resigned and announced his presidential bid, pledging to shorten his term to three years in order to pursue constitutional reform and apply his economic expertise to address the ongoing trade crisis.
U.S. President Donald Trump has declared May 8 as Victory Day for World War II and November 11 for World War I, claiming the United States played the most decisive role in winning both wars and vowing to revive national celebrations of military triumph.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 2nd, covering the latest developments you need to know.
Mercedes-Benz(MBGn.DE), opens new tab plans to begin producing a new vehicle at its Tuscaloosa, Alabama, plant in 2027, the company said Thursday, the latest in a series of investments carmakers have announced following U.S. President Donald Trump's aggressive auto tariffs.
Australians voiced a mix of optimism and apathy Friday as they geared up to vote in Saturday’s tight national election, with cost-of-living pressures, housing affordability and U.S. tariff tensions shaping the contest.
Iran and Azerbaijan have signed a landmark agreement to develop cross-border communication corridors and data transit routes, marking a significant step toward enhanced regional digital connectivity.
Mongolia’s Mineral Resources and Petroleum Authority and the Korea Gas Safety Corporation signed a Memorandum of Understanding on April 29, 2025, to enhance cooperation on flammable gas safety.
South Korea’s Prime Minister and Acting President Han Duck-soo has resigned and announced his presidential bid, pledging to shorten his term to three years in order to pursue constitutional reform and apply his economic expertise to address the ongoing trade crisis.
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