Venezuela: Multiple Loudspeakers Market 2024

Multiple Loudspeakers Market Size in Venezuela

In 2021, the Venezuelan multiple loudspeakers market decreased by -1.9% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, showed a significant decrease. Multiple loudspeakers consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Multiple Loudspeakers Exports

Exports from Venezuela

Multiple loudspeakers exports from Venezuela declined notably to X units in 2021, falling by -48.6% compared with the year before. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 803%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, multiple loudspeakers exports contracted notably to $X in 2021. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 349%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for multiple loudspeakers exports from Venezuela, with a 69% share of total exports. Moreover, multiple loudspeakers exports to Panama exceeded the volume sent to the second major destination, Mauritius (X units), fivefold. The third position in this ranking was taken by the Czech Republic (X units), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama amounted to +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (0.0% per year) and the Czech Republic (-68.8% per year).

In value terms, Panama ($X) remains the key foreign market for multiple loudspeakers (in enclosure) exports from Venezuela, comprising 65% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 16% share of total exports. It was followed by Nigeria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Panama stood at +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-72.0% per year) and Nigeria (0.0% per year).

Export Prices by Country

In 2021, the average multiple loudspeakers export price amounted to $X per unit, with a decrease of -19.6% against the previous year. Overall, the export price saw a pronounced curtailment. The pace of growth appeared the most rapid in 2017 an increase of 118% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Mauritius ($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 Costa Rica (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

Multiple Loudspeakers Imports

Imports into Venezuela

In 2021, overseas purchases of multiple loudspeakers (in enclosure) increased by 5% to X units, rising for the fourth consecutive year after five years of decline. Over the period under review, imports, however, saw a precipitous decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 105% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, multiple loudspeakers imports fell to $X in 2021. In general, imports, however, saw a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 77%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of multiple loudspeakers to Venezuela, accounting for a 84% share of total imports. Moreover, multiple loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-20.5% per year) and the United States (-34.0% per year).

In value terms, the largest multiple loudspeakers suppliers to Venezuela were China ($X), Panama ($X) and the United States ($X), together comprising 82% of total imports.

Among the main suppliers, China, with a CAGR of -21.5%, saw 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

The average multiple loudspeakers import price stood at $X per unit in 2021, reducing by -9.9% against the previous year. Over the period under review, the import price, however, posted a resilient increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 65% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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