Venezuela: Pumps For Liquids Market 2024

Pumps For Liquids Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan pumps for liquids market, when its value decreased by -9.6% to $X. Overall, consumption saw a deep setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Pumps For Liquids Exports

Exports from Venezuela

After two years of growth, overseas shipments of pumps for liquids decreased by -15% to X units in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 93%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, pumps for liquids exports contracted to $X in 2022. In general, exports continue to indicate a precipitous decline. The pace of growth was the most pronounced in 2020 with an increase of 475% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Colombia (X units) and Panama (X units) were the main destinations of pumps for liquids exports from Venezuela, with a combined 71% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), the United States ($X) and Mexico ($X) constituted the largest markets for pumps for liquids exported from Venezuela worldwide, with a combined 87% share of total exports. Panama, Trinidad and Tobago, Ecuador, Costa Rica and China lagged somewhat behind, together comprising a further 13%.

Trinidad and Tobago, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average pumps for liquids export price stood at $X per unit in 2022, increasing by 14% against the previous year. Overall, the export price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 an increase of 207% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 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 Mexico ($X per unit), while the average price for exports to China ($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 (+7.5%), while the prices for the other major destinations experienced a decline.

Pumps For Liquids Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in purchases abroad of pumps for liquids, when their volume decreased by -8.9% to X units. Overall, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 57% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, pumps for liquids imports reduced to $X in 2022. In general, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 44% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of pumps for liquids to Venezuela, accounting for a 55% share of total imports. Moreover, pumps for liquids imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), sixfold. The third position in this ranking was taken by Panama (X units), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-5.0% per year) and Panama (+8.9% per year).

In value terms, China ($X) constituted the largest supplier of pumps for liquids to Venezuela, comprising 56% of total imports. The second position in the ranking was taken by Russia ($X), with a 9.6% share of total imports. It was followed by Brazil, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+32.6% per year) and Brazil (-12.4% per year).

Import Prices by Country

In 2022, the average pumps for liquids import price amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the import price showed a slight reduction. The growth pace was the most rapid in 2016 an increase of 45%. The import price peaked 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 Russia ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform