Venezuela: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Venezuela

The Venezuelan wooden furniture treatments market fell to $X in 2022, waning by -1.9% against the previous year. Over the period under review, consumption recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when the market value increased by 4% against the previous year. Wooden furniture treatments consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wooden Furniture Treatments Production in Venezuela

In value terms, wooden furniture treatments production declined slightly to $X in 2022 estimated in export price. In general, production continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 5.1%. Wooden furniture treatments production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports from Venezuela

For the tenth year in a row, Venezuela recorded decline in overseas shipments of polishes and creams for wooden furniture and floors, which decreased by -8% to X kg in 2022. Overall, exports showed a sharp reduction. The smallest decline of -6.1% was in 2013. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden furniture treatments exports expanded notably to $X in 2022. In general, exports recorded a dramatic decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 35%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X kg), Colombia (X kg) and Peru (X kg) were the main destinations of wooden furniture treatments exports from Venezuela.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of -14.5%), while shipments for the other leaders experienced a decline.

In value terms, Ecuador ($X) remains the key foreign market for polishes and creams for wooden furniture and floors exports from Venezuela, comprising 94% of total exports. The second position in the ranking was held by Colombia ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador stood at -17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-41.4% per year) and Peru (-55.1% per year).

Export Prices by Country

In 2022, the average wooden furniture treatments export price amounted to $X per ton, surging by 21% against the previous year. In general, the export price recorded resilient growth. The pace of growth appeared the most rapid in 2013 an increase of 44% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+2.3%), while the prices for the other major destinations experienced a decline.

Wooden Furniture Treatments Imports

Imports into Venezuela

In 2022, overseas purchases of polishes and creams for wooden furniture and floors were finally on the rise to reach X tons after three years of decline. In general, imports, however, faced a sharp reduction. The most prominent rate of growth was recorded in 2018 with an increase of 3,796%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wooden furniture treatments imports rose markedly to $X in 2022. Over the period under review, imports, however, saw a sharp decline. The pace of growth appeared the most rapid in 2018 with an increase of 2,948% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons) constituted the largest wooden furniture treatments supplier to Venezuela, with a 84% share of total imports. Moreover, wooden furniture treatments imports from Mexico exceeded the figures recorded by the second-largest supplier, Chile (X kg), ninefold. China (X kg) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to -18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-24.9% per year) and China (-30.3% per year).

In value terms, Chile ($X) constituted the largest supplier of polishes and creams for wooden furniture and floors to Venezuela, comprising 63% of total imports. The second position in the ranking was held by Mexico ($X), with a 27% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Chile amounted to -11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-24.9% per year) and China (-26.4% per year).

Import Prices by Country

The average wooden furniture treatments import price stood at $X per ton in 2022, dropping by -1.8% against the previous year. Overall, the import price showed a slight setback. The pace of growth appeared the most rapid in 2020 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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