Venezuela: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Venezuela

The Venezuelan primary cell and battery market fell notably to $X in 2022, which is down by -34.1% 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). Over the period under review, consumption recorded a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Primary Cells and Batteries

Exports from Venezuela

In 2022, overseas shipments of primary cells and batteries increased by 18% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a precipitous curtailment. The pace of growth was the most pronounced in 2018 when exports increased by 340% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, primary cell and battery exports reduced slightly to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 14% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X units) was the main destination for primary cell and battery exports from Venezuela, with a 4,304% share of total exports. It was followed by Chile (X units), with a 95% share of total exports. The third position in this ranking was held by Trinidad and Tobago (X units), with a 45% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-10.4% per year) and Trinidad and Tobago (-19.1% per year).

In value terms, Panama ($X) remains the key foreign market for primary cells and batteries exports from Venezuela, comprising 11% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 4.4% share of total exports. It was followed by Chile, with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama amounted to -26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (-18.1% per year) and Chile (-41.0% per year).

Export Prices by Country

In 2022, the average primary cell and battery export price amounted to $X per unit, waning by -18% against the previous year. Overall, the export price, however, posted a strong increase. The growth pace was the most rapid in 2015 an increase of 569%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per unit), while the average price for exports to Chile (less than $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 Trinidad and Tobago (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Primary Cells and Batteries

Imports into Venezuela

In 2022, approx. X units of primary cells and batteries were imported into Venezuela; waning by -33.5% on the previous year. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 311%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, primary cell and battery imports declined rapidly to $X in 2022. Overall, imports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 264% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Panama (X units) were the main suppliers of primary cell and battery imports to Venezuela, with a combined 89% share of total imports. Malaysia, Belgium, Costa Rica, Brazil, Singapore, Indonesia and Colombia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +109.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of primary cells and batteries to Venezuela, comprising 46% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Panama, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-24.1% per year) and Panama (-9.9% per year).

Import Prices by Country

The average primary cell and battery import price stood at $X per unit in 2022, which is down by -4.1% against the previous year. In general, the import price continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by 64% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+9.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform