Venezuela: Radio Navigation Apparatus Market 2024

Radio Navigation Apparatus Market Size in Venezuela

The Venezuelan radio navigation apparatus market skyrocketed to $X in 2021, growing by 29% 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). In general, consumption, however, saw a dramatic decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Radio Navigation Apparatus Exports

Exports from Venezuela

In 2021, shipments abroad of radio navigational aid apparatus decreased by -29.6% to X kg, falling for the sixth year in a row after two years of growth. Over the period under review, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 71%. Over the period under review, the exports reached the maximum at X kg in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, radio navigation apparatus exports dropped remarkably to $X in 2021. In general, exports showed a precipitous descent. The growth pace was the most rapid in 2015 when exports increased by 92% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X kg), Panama (X kg) and Chile (X kg) were the main destinations of radio navigation apparatus exports from Venezuela, together comprising 79% of total exports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +16.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Panama ($X) and Germany ($X) appeared to be the largest markets for radio navigation apparatus exported from Venezuela worldwide, with a combined 84% share of total exports.

Germany, with a CAGR of +23.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average radio navigation apparatus export price amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 251%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+68.1%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Navigation Apparatus Imports

Imports into Venezuela

In 2021, radio navigation apparatus imports into Venezuela soared to X kg, jumping by 66% on the year before. Over the period under review, imports, however, faced a sharp setback. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, radio navigation apparatus imports soared to $X in 2021. In general, imports, however, recorded a precipitous descent. The pace of growth appeared the most rapid in 2013 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada (X kg), China (X kg) and Hong Kong SAR (X kg) were the main suppliers of radio navigation apparatus imports to Venezuela, with a combined 52% share of total imports. The United States, Ecuador, Russia, France, Japan, Australia, Lithuania, the Netherlands, South Korea and Chile lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +40.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest radio navigation apparatus suppliers to Venezuela were China ($X), Canada ($X) and the United States ($X), together accounting for 41% of total imports. These countries were followed by Russia, Lithuania, Ecuador, Chile, France, Australia, South Korea, Hong Kong SAR, Japan and the Netherlands, which together accounted for a further 31%.

Chile, with a CAGR of +108.3%, saw the highest rates of growth with regard to the value of imports, among 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 radio navigation apparatus import price stood at $X per ton in 2021, waning by -29.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21%. The import price peaked at $X per ton in 2020, and then fell notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Lithuania ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+39.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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