Venezuela: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2024

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Venezuela

In 2022, after three years of growth, there was significant decline in the Venezuelan electric oven and cooker market, when its value decreased by -11.5% to $X. Over the period under review, consumption saw a noticeable decline. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Venezuela

In 2022, the amount of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters exported from Venezuela fell rapidly to X units, waning by -26.3% on 2021 figures. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 1,058% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, electric oven and cooker exports expanded modestly to $X in 2022. Overall, exports saw a sharp contraction. The growth pace was the most rapid in 2017 with an increase of 643%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X units) was the main destination for electric oven and cooker exports from Venezuela, accounting for a 93% share of total exports. Moreover, electric oven and cooker exports to the Dominican Republic exceeded the volume sent to the second major destination, China (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic stood at +33.0%.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for electric ovens, cookers, cooking plates, boiling rings, grillers and roasters exports from Venezuela, comprising 68% of total exports. The second position in the ranking was taken by China ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic totaled +25.3%.

Export Prices by Country

The average electric oven and cooker export price stood at $X per unit in 2022, with an increase of 40% against the previous year. Overall, the export price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 an increase of 59% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the Dominican Republic stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+59.5%), while the prices for the other major destinations experienced a decline.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Venezuela

In 2022, after three years of growth, there was significant decline in purchases abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters, when their volume decreased by -15.7% to X units. Overall, imports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 334% against the previous year. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, electric oven and cooker imports declined to $X in 2022. Over the period under review, imports showed a noticeable descent. The pace of growth was the most pronounced in 2019 with an increase of 264%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of electric oven and cooker to Venezuela, with a 91% share of total imports. Moreover, electric oven and cooker imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.3% per year) and Mexico (-4.5% per year).

In value terms, the largest electric oven and cooker suppliers to Venezuela were China ($X), the United States ($X) and Mexico ($X), together comprising 91% of total imports.

Among the main suppliers, the United States, with a CAGR of +8.3%, 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 electric oven and cooker import price amounted to $X per unit, rising by 6.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 35%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per unit), while the price for China ($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 (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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