Venezuela: Twig Broom Market 2024

Twig Broom Market Size in Venezuela

The Venezuelan twig broom market shrank modestly to $X in 2021, leveling off at the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Twig Broom Production in Venezuela

In value terms, twig broom production contracted slightly to $X in 2021 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 114%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Twig Broom Exports

Exports from Venezuela

In 2021, twig broom exports from Venezuela fell significantly to X units, waning by -83.1% against the previous year's figure. In general, exports recorded a perceptible descent. The growth pace was the most rapid in 2013 when exports increased by 9,143%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, twig broom exports dropped dramatically to $X in 2021. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 8,984%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Colombia (X units) was the main destination for twig broom exports from Venezuela, with a 87% share of total exports. Moreover, twig broom exports to Colombia exceeded the volume sent to the second major destination, Aruba (X units), more than tenfold. Guyana (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+41.3% per year) and Guyana (+8.7% per year).

In value terms, Colombia ($X) remains the key foreign market for brooms and brushes of twigs exports from Venezuela, comprising 78% of total exports. The second position in the ranking was taken by Aruba ($X), with a 14% share of total exports. It was followed by Suriname, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to Colombia totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+57.9% per year) and Suriname (-2.6% per year).

Export Prices by Country

The average twig broom export price stood at $X per unit in 2021, rising by 93% against the previous year. In general, the export price, however, saw a mild contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Aruba ($X per unit), while the average price for exports to Guyana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Twig Broom Imports

Imports into Venezuela

For the fifth year in a row, Venezuela recorded decline in supplies from abroad of brooms and brushes of twigs, which decreased by -5.4% to X units in 2021. Over the period under review, imports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2016 with an increase of 337% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, twig broom imports shrank to $X in 2021. In general, imports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 180% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Mexico (X units) and Panama (X units) were the main suppliers of twig broom imports to Venezuela, with a combined 90% share of total imports. Sweden, the United States and Colombia lagged somewhat behind, together accounting for a further 3.4%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of 0.0%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of brooms and brushes of twigs to Venezuela, comprising 49% of total imports. The second position in the ranking was held by Mexico ($X), with a 23% share of total imports. It was followed by Panama, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-9.0% per year) and Panama (-4.2% per year).

Import Prices by Country

The average twig broom import price stood at $X per unit in 2021, declining by -1.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 40% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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