Venezuela: Plastic Container Market 2024

Plastic Container Market Size in Venezuela

In 2021, after three years of growth, there was decline in the Venezuelan plastic container market, when its value decreased by -4.2% to $X. Overall, consumption showed a perceptible downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Plastic Container Production in Venezuela

In value terms, plastic container production declined to $X in 2021 estimated in export price. In general, production saw a perceptible slump. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. Plastic container production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Plastic Container Exports

Exports from Venezuela

In 2021, approx. X tons of plastic containers were exported from Venezuela; growing by 69% compared with the previous year's figure. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 307% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, plastic container exports skyrocketed to $X in 2021. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2017 with an increase of 227%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons), Colombia (X tons) and Costa Rica (X tons) were the main destinations of plastic container exports from Venezuela, together accounting for 67% of total exports. These countries were followed by Trinidad and Tobago, the United States, Brazil, the Dominican Republic and Guyana, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of +63.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) remains the key foreign market for plastic containers exports from Venezuela, comprising 47% of total exports. The second position in the ranking was held by Costa Rica ($X), with an 11% share of total exports. It was followed by Panama, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia totaled +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+43.4% per year) and Panama (+35.5% per year).

Export Prices by Country

The average plastic container export price stood at $X per ton in 2021, declining by -11.6% against the previous year. Overall, the export price showed a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of 53% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Container Imports

Imports into Venezuela

In 2021, approx. X tons of plastic containers were imported into Venezuela; growing by 176% on 2020 figures. Overall, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 248%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic container imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a deep contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic container to Venezuela, accounting for a 44% share of total imports. Moreover, plastic container imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by Poland (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+39.4% per year) and Poland (0.0% per year).

In value terms, China ($X) constituted the largest supplier of plastic containers to Venezuela, comprising 41% of total imports. The second position in the ranking was taken by Poland ($X), with an 11% share of total imports. It was followed by Brazil, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (0.0% per year) and Brazil (-13.8% per year).

Import Prices by Country

The average plastic container import price stood at $X per ton in 2021, picking up by 10% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic container import price increased by +56.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 42%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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