Venezuela: Black Printing Ink Market 2024

Black Printing Ink Market Size in Venezuela

The Venezuelan black printing ink market reached $X in 2022, picking up by 9.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a sharp slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Black Printing Ink Exports

Exports from Venezuela

In 2022, the amount of black printing ink exported from Venezuela contracted slightly to X kg, shrinking by -1.7% on 2021 figures. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2019 with an increase of 199%. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, black printing ink exports declined to $X in 2022. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 202% against the previous year. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The United States (X kg) was the main destination for black printing ink exports from Venezuela, accounting for a 69% share of total exports. Moreover, black printing ink exports to the United States exceeded the volume sent to the second major destination, Spain (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+47.0% per year) and Aruba (+8.2% per year).

In value terms, the United States ($X) remains the key foreign market for black printing ink exports from Venezuela, comprising 81% of total exports. The second position in the ranking was taken by Spain ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +51.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+26.0% per year) and Aruba (-18.9% per year).

Export Prices by Country

The average black printing ink export price stood at $X per ton in 2022, flattening at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 52%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Aruba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.2%), while the prices for the other major destinations experienced a decline.

Black Printing Ink Imports

Imports into Venezuela

In 2022, black printing ink imports into Venezuela rose rapidly to X tons, increasing by 12% on 2021 figures. Overall, imports, however, continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 140%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, black printing ink imports reached $X in 2022. In general, imports, however, recorded a significant curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 58%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Costa Rica (X tons) were the main suppliers of black printing ink imports to Venezuela, with a combined 51% share of total imports. Ecuador, Taiwan (Chinese), Belgium, Colombia, Germany, Brazil, South Korea and Mexico lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +68.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of black printing ink to Venezuela, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 2.5% share of total imports. It was followed by China, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-25.5% per year) and China (-20.5% per year).

Import Prices by Country

In 2022, the average black printing ink import price amounted to $X per ton, dropping by -3.8% against the previous year. Overall, the import price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 83%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform