Venezuela: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Venezuela

In 2021, the Venezuelan medicaments containing vitamins market increased by 102% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, continues to indicate a dramatic setback. Medicaments containing vitamins consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Medicaments Containing Vitamins Exports

Exports from Venezuela

In 2021, approx. X tons of medicaments containing vitamins and provitamins were exported from Venezuela; rising by 45% on 2020. In general, exports, however, continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2014 when exports increased by 68%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing vitamins exports surged to $X in 2021. Over the period under review, exports, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 258% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Nicaragua (X tons), Honduras (X tons) and El Salvador (X tons) were the main destinations of medicaments containing vitamins exports from Venezuela, together comprising 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for El Salvador (with a CAGR of +30.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for medicaments containing vitamins exported from Venezuela were Nicaragua ($X), Honduras ($X) and El Salvador ($X), together comprising 96% of total exports.

El Salvador, with a CAGR of +27.7%, 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 mixed trend patterns.

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, reducing by -15.3% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 113%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to El Salvador ($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 Bolivia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Venezuela

In 2021, overseas purchases of medicaments containing vitamins and provitamins increased by 112% to X tons, rising for the third consecutive year after three years of decline. In general, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 130% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. Overall, imports, however, showed a precipitous contraction. The growth pace was the most rapid in 2020 when imports increased by 102%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of medicaments containing vitamins to Venezuela, accounting for a 64% share of total imports. Moreover, medicaments containing vitamins imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Colombia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.9% per year) and Colombia (-14.1% per year).

In value terms, India ($X), Colombia ($X) and the United States ($X) were the largest medicaments containing vitamins suppliers to Venezuela, with a combined 74% share of total imports. These countries were followed by China, Brazil, Mexico and the Netherlands, which together accounted for a further 5.2%.

In terms of the main suppliers, China, with a CAGR of +13.8%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, declining by -16.2% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2018 when the average import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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