Venezuela: Luggage Market 2025

Luggage Market Size in Venezuela

The Venezuelan luggage market expanded sharply to $X in 2021, picking up by 9% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Luggage Production in Venezuela

In value terms, luggage production expanded remarkably to $X in 2021 estimated in export price. In general, production showed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 202%. Luggage production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Luggage Exports

Exports from Venezuela

In 2021, shipments abroad of luggage and handbags was finally on the rise to reach X tons after three years of decline. Overall, exports, however, faced a precipitous decline. The growth pace was the most rapid in 2017 when exports increased by 345%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, luggage exports reduced markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 67%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg), Senegal (X kg) and the Dominican Republic (X kg) were the main destinations of luggage exports from Venezuela, together comprising 60% of total exports. Australia, Peru, Costa Rica, Guatemala, Panama, the UK and Colombia lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +34.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for luggage exported from Venezuela were the United States ($X), the Dominican Republic ($X) and Australia ($X), with a combined 38% share of total exports. These countries were followed by Peru, the UK, Panama, Guatemala, Senegal, Colombia and Costa Rica, which together accounted for a further 22%.

Peru, with a CAGR of +74.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average luggage export price amounted to $X per ton, which is down by -55% against the previous year. In general, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 150%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+29.4%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports

Imports into Venezuela

In 2021, luggage imports into Venezuela surged to X tons, growing by 43% on the previous year. Over the period under review, imports, however, faced a sharp decline. The most prominent rate of growth was recorded in 2019 when imports increased by 92%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, luggage imports soared to $X in 2021. Overall, imports, however, showed a significant decline. The most prominent rate of growth was recorded in 2019 with an increase of 123% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of luggage to Venezuela, accounting for a 83% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. Panama (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-21.5% per year) and Panama (-42.3% per year).

In value terms, China ($X) constituted the largest supplier of luggage and handbags to Venezuela, comprising 61% of total imports. The second position in the ranking was taken by Panama ($X), with a 7.7% share of total imports. It was followed by Hong Kong SAR, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-31.2% per year) and Hong Kong SAR (-27.3% per year).

Import Prices by Country

In 2021, the average luggage import price amounted to $X per ton, dropping by -8.8% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, luggage import price increased by +84.2% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 74%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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