Venezuela: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in Venezuela

The Venezuelan quilted textile products market declined remarkably to less than $X in 2021, dropping by 99.9% against the previous year. Overall, consumption, however, continues to indicate a deep reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Quilted Textile Products Production in Venezuela

In value terms, quilted textile products production expanded modestly to $X in 2021 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -31.4% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of 64% against the previous year. Quilted textile products production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Quilted Textile Products Exports

Exports from Venezuela

In 2020, shipments abroad of quilted textile products in the piece (excluding embroidery) decreased by 0% to X kg for the first time since 2017, thus ending a two-year declining trend. Over the period under review, exports saw a deep contraction. The smallest decline of -25% was in 2013. Over the period under review, the exports attained the maximum at X kg in 2017; however, from 2018 to 2020, the exports stood at a somewhat lower figure.

In value terms, quilted textile products exports stood at $X in 2020. Overall, exports showed a dramatic shrinkage. The smallest decline of -22% was in 2013. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X kg) was the main destination for quilted textile products exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Indonesia was relatively modest.

From 2012 to 2020, the average annual growth rate of value to Indonesia was relatively modest.

Export Prices by Country

The average quilted textile products export price stood at $X per ton in 2020, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate a precipitous descent. The pace of growth appeared the most rapid in 2014 when the average export price increased by 7.4% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2020, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2020, the rate of growth in terms of prices for Aruba amounted to +64.5% per year.

Quilted Textile Products Imports

Imports into Venezuela

In 2021, the amount of quilted textile products in the piece (excluding embroidery) imported into Venezuela soared to X tons, growing by 53% against 2020 figures. Over the period under review, imports, however, recorded a sharp setback. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, quilted textile products imports surged to $X in 2021. Overall, imports, however, continue to indicate a dramatic downturn. The pace of growth was the most pronounced in 2013 when imports increased by 22%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Bolivia (X tons) constituted the largest supplier of quilted textile products to Venezuela, accounting for a 57% share of total imports. Moreover, quilted textile products imports from Bolivia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Colombia (X kg) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bolivia totaled -23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-34.7% per year) and Colombia (-42.2% per year).

In value terms, Bolivia ($X) constituted the largest supplier of quilted textile products in the piece (excluding embroidery) to Venezuela, comprising 81% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by Brazil, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value from Bolivia stood at -27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-38.3% per year) and Brazil (-52.3% per year).

Import Prices by Country

In 2021, the average quilted textile products import price amounted to $X per ton, declining by -20.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 255%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Bolivia ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (-4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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