Venezuela: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Venezuela

In 2022, the Venezuelan liquefied petroleum gas (LPG) market increased by 36% to $X, rising for the second consecutive year after two years of decline. In general, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in Venezuela

In value terms, liquefied petroleum gas (LPG) production amounted to less than $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Venezuela

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported from Venezuela; falling by -16.6% on the previous year. In general, exports saw a deep contraction. The growth pace was the most rapid in 2015 with an increase of 2,039%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports shrank sharply to $X in 2022. Overall, exports saw a dramatic descent. The pace of growth was the most pronounced in 2015 when exports increased by 1,415% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Venezuela, accounting for a 73% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to Brazil exceeded the volume sent to the second major destination, Morocco (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled -5.4%.

In value terms, Brazil ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Venezuela, comprising 95% of total exports. The second position in the ranking was taken by Morocco ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil stood at -10.8%.

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, flattening at the previous year. Overall, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 30%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Morocco stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+16.7%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Venezuela

In 2022, approx. X tons of liquefied petroleum gas (LPG) were imported into Venezuela; declining by -96.8% against 2021 figures. Over the period under review, imports saw a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 199% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) imports fell significantly to $X in 2022. Overall, imports continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2018 with an increase of 273% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of liquefied petroleum gas (LPG) to Venezuela, accounting for a 100% share of total imports. It was followed by Trinidad and Tobago (X tons), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Trinidad and Tobago (-14.8% per year) and China (+50.2% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Venezuela, comprising 73% of total imports. The second position in the ranking was held by China ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+58.6% per year) and Trinidad and Tobago (-17.5% per year).

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, jumping by 95% against the previous year. In general, the import price posted temperate growth. The pace of growth was the most pronounced in 2020 an increase of 160%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a 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 China ($X per ton), while the price for Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform