Venezuela: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2024

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Venezuela

The Venezuelan geometrical quantities electronic measurer market soared to $X in 2022, picking up by 477% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a drastic downturn. Geometrical quantities electronic measurer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from Venezuela

After three years of decline, overseas shipments of electronic instruments and machines for measuring geometrical quantities increased by 77% to X units in 2022. In general, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 592%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, geometrical quantities electronic measurer exports fell markedly to $X in 2022. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 600% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Canada (X units) and Nicaragua (X units) were the main destinations of geometrical quantities electronic measurer exports from Venezuela, together comprising 66% of total exports. Spain, El Salvador, China and the Philippines lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +46.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for electronic instruments and machines for measuring geometrical quantities exports from Venezuela, comprising 51% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.9% share of total exports. It was followed by Canada, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+123.2% per year) and Canada (-25.4% per year).

Export Prices by Country

In 2022, the average geometrical quantities electronic measurer export price amounted to $X per unit, reducing by -56.9% against the previous year. Overall, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of 175% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced notably in the following year.

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 United States ($X per unit), while the average price for exports to Canada ($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 the Philippines (+54.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into Venezuela

In 2022, approx. X units of electronic instruments and machines for measuring geometrical quantities were imported into Venezuela; picking up by 551% on 2021. Over the period under review, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2020 when imports increased by 613% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, geometrical quantities electronic measurer imports soared to $X in 2022. In general, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 when imports increased by 568%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Italy (X units) were the main suppliers of geometrical quantities electronic measurer imports to Venezuela, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +4.3%), while imports for the other leaders experienced a decline.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest geometrical quantities electronic measurer suppliers to Venezuela, together accounting for 65% of total imports. Italy and Brazil lagged somewhat behind, together accounting for a further 10%.

Italy, with a CAGR of +6.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average geometrical quantities electronic measurer import price stood at $X per unit in 2022, falling by -29.5% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2016 an increase of 109%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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