Venezuela: Optical Radiation Instruments Market 2025

Optical Radiation Instruments Market Size in Venezuela

After four years of growth, the Venezuelan optical radiation instruments market decreased by -19.1% to $X in 2022. Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Optical Radiation Instruments Exports

Exports from Venezuela

In 2022, overseas shipments of instruments using optical radiations decreased by -9.5% to X units, falling for the second consecutive year after two years of growth. In general, exports saw a deep setback. The growth pace was the most rapid in 2015 when exports increased by 1,344% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, optical radiation instruments exports totaled $X in 2022. Over the period under review, exports recorded a dramatic descent. The growth pace was the most rapid in 2015 when exports increased by 1,400%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for optical radiation instruments exports from Venezuela, accounting for a 84% share of total exports. Moreover, optical radiation instruments exports to Panama exceeded the volume sent to the second major destination, Ireland (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled -4.7%.

In value terms, the largest markets for optical radiation instruments exported from Venezuela were Panama ($X), Germany ($X) and the United States ($X), with a combined 77% share of total exports. These countries were followed by Ireland, which accounted for a further 12%.

Among the main countries of destination, Ireland, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average optical radiation instruments export price stood at $X per unit in 2022, increasing by 16% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 36%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+32.7%), while the prices for the other major destinations experienced mixed trend patterns.

Optical Radiation Instruments Imports

Imports into Venezuela

In 2022, after four years of growth, there was significant decline in overseas purchases of instruments using optical radiations, when their volume decreased by -25.9% to X units. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 104% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, optical radiation instruments imports fell sharply to $X in 2022. In general, imports faced a abrupt slump. The pace of growth was the most pronounced in 2018 when imports increased by 101%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Switzerland (X units) constituted the largest optical radiation instruments supplier to Venezuela, accounting for a 59% share of total imports. Moreover, optical radiation instruments imports from Switzerland exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.1% per year) and the United States (-29.1% per year).

In value terms, the largest optical radiation instruments suppliers to Venezuela were Switzerland ($X), China ($X) and the United States ($X), with a combined 74% share of total imports.

Among the main suppliers, Switzerland, with a CAGR of -1.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average optical radiation instruments import price stood at $X per unit in 2022, growing by 12% against the previous year. Overall, the import price continues to indicate a mild increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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