Venezuela: Printing Ink Market 2024

Printing Ink Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan printing ink market, when its value decreased by -9.7% to $X. Overall, consumption saw a sharp reduction. Printing ink consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Printing Ink Exports

Exports from Venezuela

Printing ink exports from Venezuela stood at X kg in 2022, surging by 3.2% compared with 2021. Over the period under review, exports enjoyed a prominent expansion. The growth pace was the most rapid in 2019 when exports increased by 196% against the previous year. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, printing ink exports reduced slightly to $X in 2022. In general, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 178% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X kg) was the main destination for printing ink exports from Venezuela, with a 49% share of total exports. Moreover, printing ink exports to the United States exceeded the volume sent to the second major destination, Guatemala (X kg), threefold. Spain (X kg) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+10.7% per year) and Spain (+11.6% per year).

In value terms, the United States ($X) remains the key foreign market for printing ink exports from Venezuela, comprising 61% of total exports. The second position in the ranking was held by Spain ($X), with a 14% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +51.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+3.1% per year) and Guatemala (+6.2% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, with a decrease of -7% against the previous year. Overall, the export price saw a mild decrease. The growth pace was the most rapid in 2018 an increase of 52%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Aruba ($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 Germany (+2.4%), while the prices for the other major destinations experienced a decline.

Printing Ink Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in supplies from abroad of printing ink, when their volume decreased by -14.7% to X tons. In general, imports recorded a precipitous setback. The pace of growth appeared the most rapid in 2020 when imports increased by 88% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, printing ink imports shrank to $X in 2022. Over the period under review, imports faced a sharp descent. The pace of growth appeared the most rapid in 2020 when imports increased by 68% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest printing ink supplier to Venezuela, with a 41% share of total imports. Moreover, printing ink imports from Mexico exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. India (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-13.1% per year) and India (-0.1% per year).

In value terms, Switzerland ($X), Mexico ($X) and the United States ($X) were the largest printing ink suppliers to Venezuela, with a combined 63% share of total imports. Colombia, Hong Kong SAR, China, Germany, Ecuador, Spain, India, Brazil, Costa Rica and South Korea lagged somewhat behind, together accounting for a further 27%.

Costa Rica, with a CAGR of +10.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average printing ink import price stood at $X per ton in 2022, rising by 7.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

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 Switzerland ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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