Venezuela: Non-Knitted Men Apparel Market 2024

Non-Knitted Men Apparel Market Size in Venezuela

The Venezuelan non-knitted men apparel market reduced modestly to $X in 2022, declining by -2.6% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Non-Knitted Men Apparel Production in Venezuela

In value terms, non-knitted men apparel production dropped to $X in 2022 estimated in export price. In general, production, however, showed a tangible increase. The pace of growth appeared the most rapid in 2014 with an increase of 74%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Non-Knitted Men Apparel Exports

Exports from Venezuela

In 2022, shipments abroad of men's or boys' clothing (not knitted or crocheted) decreased by -91.2% to X units, falling for the fourth consecutive year after three years of growth. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 728%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-knitted men apparel exports declined remarkably to $X in 2022. In general, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 499%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Israel (X units), Spain (X units) and Panama (X units) were the main destinations of non-knitted men apparel exports from Venezuela, together accounting for 77% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +73.1%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Spain ($X) and Panama ($X) appeared to be the largest markets for non-knitted men apparel exported from Venezuela worldwide, together accounting for 64% of total exports.

Panama, with a CAGR of +76.3%, saw the highest growth rate of the value of exports, in terms of 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 2022, the average non-knitted men apparel export price amounted to $X per unit, jumping by 164% against the previous year. In general, the export price continues to indicate a pronounced expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Chile ($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 Ecuador (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Knitted Men Apparel Imports

Imports into Venezuela

In 2022, approx. X units of men's or boys' clothing (not knitted or crocheted) were imported into Venezuela; shrinking by -31.9% compared with the previous year's figure. In general, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2019 with an increase of 177%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, non-knitted men apparel imports shrank sharply to $X in 2022. Over the period under review, imports faced a dramatic curtailment. The growth pace was the most rapid in 2019 when imports increased by 125% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-knitted men apparel to Venezuela, with a 77% share of total imports. Moreover, non-knitted men apparel imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), eightfold. The United States (X units) ranked third in terms of total imports with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+27.4% per year) and the United States (-25.4% per year).

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (not knitted or crocheted) to Venezuela, comprising 64% of total imports. The second position in the ranking was held by Turkey ($X), with a 5.9% share of total imports. It was followed by Spain, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.3% per year) and Spain (-34.3% per year).

Import Prices by Country

The average non-knitted men apparel import price stood at $X per unit in 2022, surging by 1.6% against the previous year. Over the period under review, the import price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 126% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat 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 Panama ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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