Venezuela: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Venezuela

In 2022, the Venezuelan plastic household articles market decreased by -3.3% to $X for the first time since 2017, thus ending a four-year rising trend. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2021, and then fell in the following year.

Plastic Household Articles Production in Venezuela

In value terms, plastic household articles production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 24%. Plastic household articles production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Plastic Household Articles Exports

Exports from Venezuela

In 2022, shipments abroad of household articles and toilet articles of plastics increased by 29% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 143%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic household articles exports surged to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for plastic household articles exports from Venezuela, with a 98% share of total exports. It was followed by Guyana (X kg), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +51.9%.

In value terms, the United States ($X) emerged as the key foreign market for household articles and toilet articles of plastics exports from Venezuela, comprising 98% of total exports. The second position in the ranking was taken by Guyana ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +53.2%.

Export Prices by Country

In 2022, the average plastic household articles export price amounted to $X per ton, rising by 133% against the previous year. Overall, the export price recorded a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guyana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Venezuela

In 2022, supplies from abroad of household articles and toilet articles of plastics decreased by -20.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 319%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, plastic household articles imports declined markedly to $X in 2022. Overall, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2019 when imports increased by 199% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest plastic household articles supplier to Venezuela, accounting for a 72% share of total imports. Moreover, plastic household articles imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.8% per year) and Turkey (+29.8% per year).

In value terms, the United States ($X) constituted the largest supplier of household articles and toilet articles of plastics to Venezuela, comprising 67% of total imports. The second position in the ranking was held by China ($X), with a 28% share of total imports. It was followed by Turkey, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.0% per year) and Turkey (+19.9% per year).

Import Prices by Country

In 2022, the average plastic household articles import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a slight setback. The growth pace was the most rapid in 2013 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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