Venezuela: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in Venezuela

After two years of growth, the Venezuelan domestic electro-thermic appliances market decreased by X% to $X in 2022. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Domestic Electro-Thermic Appliances Production in Venezuela

In value terms, domestic electro-thermic appliances production shrank slightly to $X in 2022 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Domestic Electro-Thermic Appliances Exports

Exports from Venezuela

In 2022, domestic electro-thermic appliances exports from Venezuela fell to X units, reducing by X% compared with the previous year. Over the period under review, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, domestic electro-thermic appliances exports reached $X in 2022. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for domestic electro-thermic appliances exports from Venezuela, accounting for a X% share of total exports. Moreover, domestic electro-thermic appliances exports to Ecuador exceeded the volume sent to the second major destination, Guatemala (X units), threefold. The third position in this ranking was held by Trinidad and Tobago (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Trinidad and Tobago (X% per year).

In value terms, Ecuador ($X) remains the key foreign market for domestic electro-thermic appliances exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by Panama ($X), with an X% share of total exports. It was followed by Trinidad and Tobago, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Trinidad and Tobago (X% per year).

Export Prices by Country

The average domestic electro-thermic appliances export price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (X%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Electro-Thermic Appliances Imports

Imports into Venezuela

After four years of growth, purchases abroad of domestic electro-thermic appliances decreased by X% to X units in 2022. Overall, imports faced a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, domestic electro-thermic appliances imports shrank to $X in 2022. In general, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of domestic electro-thermic appliances to Venezuela, accounting for a X% share of total imports. Moreover, domestic electro-thermic appliances imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Malaysia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Malaysia (X% per year).

In value terms, the largest domestic electro-thermic appliances suppliers to Venezuela were China ($X), the United States ($X) and Malaysia ($X), with a combined X% share of total imports.

Among the main suppliers, the United States, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average domestic electro-thermic appliances import price amounted to $X per unit, increasing by X% against the previous year. In general, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 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 ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform