Venezuela: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Venezuela

In 2021, after five years of growth, there was significant decline in the Venezuelan inflatable vessel market, when its value decreased by -8.2% to $X. Over the period under review, consumption, however, continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Inflatable Vessel Production in Venezuela

In value terms, inflatable vessel production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 39% against the previous year. Inflatable vessel production peaked at $X in 2020, and then fell in the following year.

Inflatable Vessel Exports

Exports from Venezuela

After five years of decline, shipments abroad of inflatable vessels for pleasure or sports increased by 371% to X units in 2021. In general, exports, however, saw a deep downturn. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, inflatable vessel exports soared to $X in 2021. Overall, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 65% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for inflatable vessel exports from Venezuela, accounting for a 82% share of total exports. Moreover, inflatable vessel exports to the United States exceeded the volume sent to the second major destination, Panama (X units), more than tenfold. The third position in this ranking was held by Spain (X units), with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+13.0% per year) and Spain (-16.4% per year).

In value terms, the United States ($X) remains the key foreign market for inflatable vessels for pleasure or sports exports from Venezuela, comprising 45% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports. It was followed by Australia, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+11.0% per year) and Australia (-15.8% per year).

Export Prices by Country

In 2021, the average inflatable vessel export price amounted to $X per unit, declining by -65.8% against the previous year. In general, the export price, however, posted a modest expansion. The most prominent rate of growth was recorded in 2016 an increase of 118% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, 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 Australia ($X per unit), while the average price for exports to the Netherlands ($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 Spain (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Inflatable Vessel Imports

Imports into Venezuela

In 2021, after two years of decline, there was significant growth in supplies from abroad of inflatable vessels for pleasure or sports, when their volume increased by 25% to X units. Overall, imports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2016 with an increase of 650% against the previous year. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, inflatable vessel imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a dramatic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Colombia (X units) constituted the largest supplier of inflatable vessel to Venezuela, with a 60% share of total imports. Moreover, inflatable vessel imports from Colombia exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia amounted to -12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (0.0% per year) and China (-14.3% per year).

In value terms, Colombia ($X) constituted the largest supplier of inflatable vessels for pleasure or sports to Venezuela, comprising 89% of total imports. The second position in the ranking was held by China ($X), with a 3.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Colombia totaled -21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-35.9% per year) and Germany (+35.4% per year).

Import Prices by Country

The average inflatable vessel import price stood at $X per unit in 2021, rising by 51% against the previous year. In general, the import price, however, showed a deep slump. The pace of growth appeared the most rapid in 2017 an increase of 305%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 Colombia ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-10.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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