Venezuela: Cigars And Cigarillos Market 2025

Cigars And Cigarillos Market Size in Venezuela

The Venezuelan cigars and cigarillos market declined to $X in 2022, waning by -2.9% against the previous year. In general, consumption continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2021 with an increase of 6.1%. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Cigars And Cigarillos Production in Venezuela

In value terms, cigars and cigarillos production declined modestly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 7.3%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Cigars And Cigarillos Exports

Exports from Venezuela

Cigars and cigarillos exports from Venezuela expanded to X kg in 2022, increasing by 2.9% on the previous year's figure. Overall, exports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 867%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cigars and cigarillos exports contracted to $X in 2022. In general, exports continue to indicate a noticeable expansion. The growth pace was the most rapid in 2019 with an increase of 387%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Singapore (X kg), Aruba (X kg) and Spain (X kg) were the main destinations of cigars and cigarillos exports from Venezuela, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +11.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X) emerged as the key foreign market for cigars, cheroots and cigarillos exports from Venezuela, comprising 79% of total exports. The second position in the ranking was held by Aruba ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (-11.2% per year) and Spain (-10.2% per year).

Export Prices by Country

In 2022, the average cigars and cigarillos export price amounted to $X per ton, dropping by -14.8% against the previous year. Overall, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2013 an increase of 288%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Spain ($X per ton), while the average price for exports to Aruba ($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 Australia (+416.7%), while the prices for the other major destinations experienced a decline.

Cigars And Cigarillos Imports

Imports into Venezuela

In 2022, after seven years of growth, there was significant decline in overseas purchases of cigars, cheroots and cigarillos, when their volume decreased by -14.7% to X tons. Over the period under review, imports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 58%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cigars and cigarillos imports shrank to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 64%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Panama (X tons) constituted the largest supplier of cigars and cigarillos to Venezuela, accounting for a 76% share of total imports. Moreover, cigars and cigarillos imports from Panama exceeded the figures recorded by the second-largest supplier, Suriname (X kg), tenfold. The United States (X kg) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from Panama was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Suriname (-6.9% per year) and the United States (+19.0% per year).

In value terms, Panama ($X) constituted the largest supplier of cigars, cheroots and cigarillos to Venezuela, comprising 81% of total imports. The second position in the ranking was taken by the United States ($X), with a 10% share of total imports. It was followed by Suriname, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from Panama was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.6% per year) and Suriname (-14.5% per year).

Import Prices by Country

In 2022, the average cigars and cigarillos import price amounted to $X per ton, growing by 4.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2019 an increase of 13%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+7.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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