Venezuela: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Venezuela

In 2021, the Venezuelan market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) was finally on the rise to reach $X after five years of decline. In general, consumption, however, recorded a dramatic slump. Consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Venezuela

In 2021, shipments abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) decreased by -54.5% to X units, falling for the fourth consecutive year after four years of growth. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 380% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports dropped significantly to $X in 2021. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2016 when exports increased by 253%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X units), Panama (X units) and the Netherlands (X units) were the main destinations of LCD or LED indicator panel exports from Venezuela, with a combined 92% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +18.3%), while the other leaders experienced mixed trend patterns.

In value terms, Panama ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for LCD or LED indicator panel exported from Venezuela worldwide, with a combined 71% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +33.8%, recorded 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 export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, reducing by -9.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 59% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+261.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Venezuela

In 2021, supplies from abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) was finally on the rise to reach X units after six years of decline. Overall, imports, however, saw a sharp contraction. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, LCD or LED indicator panel imports skyrocketed to $X in 2021. In general, imports, however, faced a precipitous contraction. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Mexico (X units) and the United Arab Emirates (X units) were the main suppliers of LCD or LED indicator panel imports to Venezuela, with a combined 66% share of total imports.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +3.9%), while purchases for the other leaders experienced a decline.

In value terms, Peru ($X) constituted the largest supplier of LCD or LED indicator panel to Venezuela, comprising 31% of total imports. The second position in the ranking was taken by Australia ($X), with a 13% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Peru stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+1.9% per year) and China (-39.4% per year).

Import Prices by Country

In 2021, the average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, surging by 13% against the previous year. Over the period under review, the import price showed strong growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by 106%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Peru ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+45.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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