Venezuela: Personal Weighing Machine Market 2025

Personal Weighing Machine Market Size in Venezuela

The Venezuelan personal weighing machine market surged to $X in 2022, jumping by 42% 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). In general, consumption enjoyed strong growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Personal Weighing Machine Exports

Exports from Venezuela

In 2022, after three years of decline, there was significant growth in overseas shipments of personal weighing machines, when their volume increased by 31% to X units. Overall, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 1,260% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, personal weighing machine exports soared to $X in 2022. In general, exports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 768%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for personal weighing machine exports from Venezuela, with a 80% share of total exports. Moreover, personal weighing machine exports to the United States exceeded the volume sent to the second major destination, Panama (X units), tenfold. Aruba (X units) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-24.8% per year) and Aruba (-10.4% per year).

In value terms, the United States ($X) remains the key foreign market for personal weighing machines exports from Venezuela, comprising 86% of total exports. The second position in the ranking was taken by Panama ($X), with a 6.7% share of total exports. It was followed by Aruba, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-25.7% per year) and Aruba (-7.3% per year).

Export Prices by Country

In 2022, the average personal weighing machine export price amounted to $X per unit, picking up by 7% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 71%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($X per unit), while the average price for exports to Spain ($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 the United States (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Venezuela

In 2022, approx. X units of personal weighing machines were imported into Venezuela; jumping by 47% compared with 2021 figures. In general, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 417% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, personal weighing machine imports soared to $X in 2022. Over the period under review, imports recorded a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 302%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest personal weighing machine supplier to Venezuela, with a 86% share of total imports. Moreover, personal weighing machine imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+13.1% per year) and the United States (-0.3% per year).

In value terms, the largest personal weighing machine suppliers to Venezuela were China ($X), the United States ($X) and Panama ($X), with a combined 98% share of total imports.

Among the main suppliers, the United States, with a CAGR of +17.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average personal weighing machine import price stood at $X per unit in 2022, which is down by -3.9% against the previous year. In general, the import price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2015 an increase of 35%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 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 the United States ($X per unit), while the price for China ($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 (+18.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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