Venezuela: Fishing Rod Market 2024

Fishing Rod Market Size in Venezuela

In 2021, the Venezuelan fishing rod market decreased by -34.3% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption showed a abrupt slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Fishing Rod Exports

Exports from Venezuela

In 2021, the amount of fishing rods and other line fishing tackle exported from Venezuela skyrocketed to X kg, picking up by 26% compared with 2020 figures. Overall, exports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of 270%. As a result, the exports attained the peak of X kg. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fishing rod exports soared to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 337% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Aruba (X kg) was the main destination for fishing rod exports from Venezuela, with a 74% share of total exports. Moreover, fishing rod exports to Aruba exceeded the volume sent to the second major destination, the United States (X kg), ninefold. Panama (X kg) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to Aruba stood at +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.5% per year) and Panama (+14.0% per year).

In value terms, the largest markets for fishing rod exported from Venezuela were Aruba ($X), Spain ($X) and Germany ($X), together accounting for 67% of total exports.

Germany, with a CAGR of +34.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, increasing by 6.9% against the previous year. Overall, the export price, however, saw a perceptible contraction. The growth pace was the most rapid in 2019 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+29.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Venezuela

After two years of growth, purchases abroad of fishing rods and other line fishing tackle decreased by -29.5% to X tons in 2021. Overall, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 40% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, fishing rod imports reduced markedly to $X in 2021. Over the period under review, imports showed a deep downturn. The growth pace was the most rapid in 2019 with an increase of 36% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Venezuela, with a 59% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.8% per year) and Spain (+2.7% per year).

In value terms, the largest fishing rod suppliers to Venezuela were China ($X), South Korea ($X) and Democratic People's Republic of Korea ($X), together accounting for 66% of total imports. Panama, Spain, Vietnam, the United States, Trinidad and Tobago and Mexico lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Vietnam, with a CAGR of +71.4%, recorded 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 2021, the average fishing rod import price amounted to $X per ton, with a decrease of -10.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :