Venezuela: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Venezuela

The Venezuelan food manufacture machinery market skyrocketed to $X in 2021, picking up by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a dramatic contraction. Food manufacture machinery consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Food Manufacture Machinery Exports

Exports from Venezuela

After two years of decline, overseas shipments of machinery for the preparation or manufacture of food or drink increased by 629% to X units in 2021. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 7,633% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, food manufacture machinery exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7,421% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units) was the main destination for food manufacture machinery exports from Venezuela, accounting for a 84% share of total exports. Moreover, food manufacture machinery exports to Italy exceeded the volume sent to the second major destination, Spain (X units), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Italy amounted to +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.3% per year) and the United States (+8.0% per year).

In value terms, Italy ($X) remains the key foreign market for machinery for the preparation or manufacture of food or drink exports from Venezuela, comprising 94% of total exports. The second position in the ranking was taken by the United States ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-7.5% per year) and Spain (+28.5% per year).

Export Prices by Country

In 2021, the average food manufacture machinery export price amounted to $X per unit, with a decrease of -39.9% against the previous year. Over the period under review, the export price recorded a precipitous slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 51%. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Spain ($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 the United States (-12.6%), while the prices for the other major destinations experienced a decline.

Food Manufacture Machinery Imports

Imports into Venezuela

In 2021, the amount of machinery for the preparation or manufacture of food or drink imported into Venezuela skyrocketed to X units, with an increase of 67% on the previous year's figure. Over the period under review, imports, however, saw a dramatic contraction. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, food manufacture machinery imports surged to $X in 2021. Overall, imports, however, faced a sharp curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 43%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Portugal (X units), Argentina (X units) and China (X units) were the main suppliers of food manufacture machinery imports to Venezuela, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +18.9%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X), China ($X) and Portugal ($X) constituted the largest food manufacture machinery suppliers to Venezuela, together accounting for 53% of total imports.

In terms of the main suppliers, Portugal, with a CAGR of +11.7%, recorded 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

In 2021, the average food manufacture machinery import price amounted to $X per unit, which is down by -27.1% against the previous year. In general, the import price saw a pronounced downturn. The pace of growth was the most pronounced in 2019 an increase of 26%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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