Venezuela: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in Venezuela

In 2021, the Venezuelan spectacle non-plastic frame market decreased by -82.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption recorded a significant decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Spectacle Non-Plastic Frame Exports

Exports from Venezuela

In 2021, approx. X units of non-plastic frames and mountings for spectacles and goggles were exported from Venezuela; jumping by 21% against the previous year. Over the period under review, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2013 when exports increased by 526%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spectacle non-plastic frame exports soared to $X in 2021. In general, exports, however, saw a deep contraction. The growth pace was the most rapid in 2019 with an increase of 362%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X units) was the main destination for spectacle non-plastic frame exports from Venezuela, with a 98% share of total exports. It was followed by Colombia (X units), with a 0.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at -9.0%.

In value terms, Italy ($X) remains the key foreign market for non-plastic frames and mountings for spectacles and goggles exports from Venezuela, comprising 95% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 0.8% share of total exports. It was followed by Panama, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-39.2% per year) and Panama (-44.9% per year).

Export Prices by Country

In 2021, the average spectacle non-plastic frame export price amounted to $X per unit, with a decrease of -2.8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Colombia ($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 (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports into Venezuela

In 2021, after two years of growth, there was significant decline in purchases abroad of non-plastic frames and mountings for spectacles and goggles, when their volume decreased by -81.6% to X units. Over the period under review, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, spectacle non-plastic frame imports dropped dramatically to $X in 2021. Overall, imports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 28% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Cuba (X units) constituted the largest supplier of spectacle non-plastic frame to Venezuela, accounting for a 87% share of total imports. Moreover, spectacle non-plastic frame imports from Cuba exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. Panama (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Cuba amounted to -18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-47.7% per year) and Panama (-40.9% per year).

In value terms, Cuba ($X) constituted the largest supplier of non-plastic frames and mountings for spectacles and goggles to Venezuela, comprising 85% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 6.6% share of total imports. It was followed by Panama, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Cuba stood at -15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-42.9% per year) and Panama (-35.9% per year).

Import Prices by Country

In 2021, the average spectacle non-plastic frame import price amounted to $X per unit, waning by -2.7% against the previous year. In general, the import price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 78%. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for the United States ($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 (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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