Venezuela: Bumper Market 2025

Bumper Market Size in Venezuela

After two years of growth, the Venezuelan bumper market decreased by -9.3% to $X in 2022. Over the period under review, consumption, however, faced a deep contraction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Bumper Exports

Exports from Venezuela

In 2022, shipments abroad of bumpers was finally on the rise to reach X tons after four years of decline. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 2,510%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, bumper exports surged to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 1,237%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X kg) was the main destination for bumper exports from Venezuela, accounting for a 41% share of total exports. Moreover, bumper exports to Argentina exceeded the volume sent to the second major destination, the Dominican Republic (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Argentina stood at -42.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+41.2% per year) and Spain (-10.9% per year).

In value terms, Argentina ($X), the Dominican Republic ($X) and Spain ($X) appeared to be the largest markets for bumper exported from Venezuela worldwide, with a combined 43% share of total exports.

Among the main countries of destination, the Dominican Republic, with a CAGR of +49.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average bumper export price stood at $X per ton in 2022, dropping by -32.4% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 143%. 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.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Argentina ($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 Argentina (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Bumper Imports

Imports into Venezuela

In 2022, the amount of bumpers imported into Venezuela rose significantly to X tons, surging by 11% compared with 2021 figures. Overall, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 85% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, bumper imports contracted remarkably to $X in 2022. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 87% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of bumper to Venezuela, accounting for a 63% share of total imports. Moreover, bumper imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.3% per year) and the United States (-22.2% per year).

In value terms, Australia ($X) constituted the largest supplier of bumpers to Venezuela, comprising 72% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by China, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia totaled +26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-19.3% per year) and China (-5.3% per year).

Import Prices by Country

The average bumper import price stood at $X per ton in 2022, dropping by -26.6% against the previous year. In general, the import price, however, recorded a tangible increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 94%. As a result, import price attained the peak level of $X per ton, and then declined markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+30.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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