Venezuela: Gin And Geneva Market 2024

Gin And Geneva Market Size in Venezuela

The Venezuelan gin and geneva market contracted modestly to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption posted a strong expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Gin And Geneva Production in Venezuela

In value terms, gin and geneva production dropped slightly to $X in 2022 estimated in export price. In general, production saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 75%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Gin And Geneva Exports

Exports from Venezuela

In 2022, after five years of growth, there was significant decline in overseas shipments of gin and geneva, when their volume decreased by -13.8% to X litres. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 496% against the previous year. The exports peaked at X litres in 2021, and then contracted in the following year.

In value terms, gin and geneva exports fell to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 904% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

France (X litres), Italy (X litres) and Germany (X litres) were the main destinations of gin and geneva exports from Venezuela, together accounting for 40% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +27.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gin and geneva exported from Venezuela were France ($X), Germany ($X) and Italy ($X), together accounting for 40% of total exports.

In terms of the main countries of destination, France, with a CAGR of +51.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, surging by 6% against the previous year. In general, the export price recorded a resilient increase. The growth pace was the most rapid in 2016 when the average export price increased by 104% against the previous year. The export price peaked at $X per litre in 2020; however, from 2021 to 2022, the 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 ($X per litre), while the average price for exports to the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gin And Geneva Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in purchases abroad of gin and geneva, when their volume decreased by -18.7% to X litres. Overall, imports saw a deep slump. The growth pace was the most rapid in 2021 when imports increased by 72%. Imports peaked at X litres in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, gin and geneva imports declined modestly to $X in 2022. In general, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by 30% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Suriname (X litres), Panama (X litres) and the UK (X litres) were the main suppliers of gin and geneva imports to Venezuela, together accounting for 83% of total imports. These countries were followed by Spain and the Netherlands, which together accounted for a further 7.7%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +67.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Panama ($X), the UK ($X) and Suriname ($X) constituted the largest gin and geneva suppliers to Venezuela, together accounting for 75% of total imports. These countries were followed by Spain and the Netherlands, which together accounted for a further 11%.

Spain, with a CAGR of +57.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average gin and geneva import price stood at $X per litre in 2022, increasing by 18% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gin and geneva import price decreased by -34.2% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 47%. Over the period under review, average import prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Suriname (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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