Venezuela: Mattress Market 2024

Mattress Market Size in Venezuela

The Venezuelan mattress market shrank to $X in 2022, dropping by -1.9% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Mattress Production in Venezuela

In value terms, mattress production shrank slightly to $X in 2022 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Mattress Exports

Exports from Venezuela

In 2022, overseas shipments of mattresses increased by 30% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports saw a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 342% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, mattress exports skyrocketed to $X in 2022. In general, exports posted a tangible increase. The growth pace was the most rapid in 2013 when exports increased by 333% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for mattress exports from Venezuela, with a 37% share of total exports. Moreover, mattress exports to Colombia exceeded the volume sent to the second major destination, Guyana (X units), threefold. The third position in this ranking was taken by Aruba (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+6.4% per year) and Aruba (+12.5% per year).

In value terms, Colombia ($X) remains the key foreign market for mattresses exports from Venezuela, comprising 53% of total exports. The second position in the ranking was held by Guyana ($X), with a 9.2% share of total exports. It was followed by Panama, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+12.1% per year) and Panama (+47.8% per year).

Export Prices by Country

In 2022, the average mattress export price amounted to $X per unit, with an increase of 2.4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Aruba ($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 Panama (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mattress Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in purchases abroad of mattresses, when their volume decreased by -38.5% to X units. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 187% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, mattress imports reduced notably to $X in 2022. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by 241% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units) constituted the largest supplier of mattress to Venezuela, with a 41% share of total imports. Moreover, mattress imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Colombia (X units), twofold. The third position in this ranking was held by China (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Hong Kong SAR stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+41.3% per year) and China (-19.6% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of mattresses to Venezuela, comprising 51% of total imports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total imports. It was followed by China, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+41.0% per year) and China (-24.7% per year).

Import Prices by Country

In 2022, the average mattress import price amounted to $X per unit, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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