Venezuela: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Venezuela

The Venezuelan metal office furniture market was estimated at $X in 2022, with an increase of 4.4% 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). Over the period under review, consumption recorded a significant contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Metal Office Furniture Exports

Exports from Venezuela

In 2022, overseas shipments of metal office furniture increased by 32% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 966%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, metal office furniture exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 839% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons) was the main destination for metal office furniture exports from Venezuela, with a 93% share of total exports. Moreover, metal office furniture exports to Bahrain exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain was relatively modest.

From 2012 to 2022, the average annual growth rate of value to Bahrain was relatively modest.

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, standing approx. at the previous year. In general, the export price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Canada ($X per ton), while the average price for exports to Bahrain stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+0.2%), while the prices for the other major destinations experienced a decline.

Metal Office Furniture Imports

Imports into Venezuela

In 2022, overseas purchases of metal office furniture decreased by -1.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a sharp reduction. The pace of growth appeared the most rapid in 2019 with an increase of 118% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal office furniture imports rose markedly to $X in 2022. Over the period under review, imports continue to indicate a sharp slump. The growth pace was the most rapid in 2019 when imports increased by 109% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to Venezuela, with a 53% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from China stood at -21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-25.2% per year) and Italy (-21.3% per year).

In value terms, the largest metal office furniture suppliers to Venezuela were China ($X), Italy ($X) and the United States ($X), together comprising 69% of total imports.

Among the main suppliers, Italy, with a CAGR of -17.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average metal office furniture import price stood at $X per ton in 2022, picking up by 9.2% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture import price decreased by -23.3% against 2018 indices. The growth pace was the most rapid in 2014 when the average import price increased by 41% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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