Venezuela: Pump For Liquid Market 2024

Pump For Liquid Market Size in Venezuela

In 2021, the Venezuelan pump for liquid market increased by 22% to $X, rising for the second consecutive year after seven years of decline. Over the period under review, consumption, however, faced a significant contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pump For Liquid Exports

Exports from Venezuela

For the third consecutive year, Venezuela recorded decline in overseas shipments of pumps for liquids and liquid elevators, which decreased by -3.5% to X units in 2021. Overall, exports faced a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 276% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pump for liquid exports expanded sharply to $X in 2021. Over the period under review, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Peru (X units), Panama (X units) and the United States (X units) were the main destinations of pump for liquid exports from Venezuela, with a combined 73% share of total exports. These countries were followed by Canada, Colombia, Ecuador, Costa Rica, Trinidad and Tobago and Austria, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +61.2%), while the other leaders experienced mixed trend patterns.

In value terms, Peru ($X), the United States ($X) and Panama ($X) appeared to be the largest markets for pump for liquid exported from Venezuela worldwide, with a combined 54% share of total exports.

Among the main countries of destination, Peru, with a CAGR of +13.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average pump for liquid export price amounted to $X per unit, picking up by 19% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 145%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+3,446.3%), while the prices for the other major destinations experienced more modest paces of growth.

Pump For Liquid Imports

Imports into Venezuela

For the third consecutive year, Venezuela recorded growth in purchases abroad of pumps for liquids and liquid elevators, which increased by 22% to X units in 2021. Overall, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 55%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, pump for liquid imports soared to $X in 2021. Over the period under review, imports, however, recorded a sharp setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest pump for liquid supplier to Venezuela, accounting for a 70% share of total imports. Moreover, pump for liquid imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold. The third position in this ranking was taken by Singapore (X units), with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+15.3% per year) and Singapore (-8.7% per year).

In value terms, China ($X) constituted the largest supplier of pumps for liquids and liquid elevators to Venezuela, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 4.3% share of total imports. It was followed by Mexico, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-41.3% per year) and Mexico (-21.4% per year).

Import Prices by Country

The average pump for liquid import price stood at $X per unit in 2021, remaining stable against the previous year. In general, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in 2013 an increase of 57%. Over the period under review, average import prices hit record highs at $X per unit 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, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform