Venezuela: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan refrigerator and freezer market, when its value decreased by X% to $X. Overall, consumption showed a deep contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refrigerator And Freezer Exports

Exports from Venezuela

After three years of decline, overseas shipments of refrigerators and freezers increased by X% to X units in 2022. Over the period under review, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerator and freezer exports surged to $X in 2022. In general, exports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X units), the Dominican Republic (X units) and Aruba (X units) were the main destinations of refrigerator and freezer exports from Venezuela, with a combined X% 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 Dominican Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refrigerator and freezer exported from Venezuela were the Dominican Republic ($X), Panama ($X) and Aruba ($X), with a combined X% share of total exports. Ecuador, Guatemala, Costa Rica, Colombia and Guyana lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Ecuador, with a CAGR of X%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerator and freezer export price amounted to $X per unit, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Guyana ($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 Ecuador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator And Freezer Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in purchases abroad of refrigerators and freezers, when their volume decreased by X% to X units. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerator and freezer imports shrank notably to $X in 2022. Overall, imports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator and freezer to Venezuela, with a X% share of total imports. Moreover, refrigerator and freezer imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), threefold. Panama (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Panama (X% per year).

In value terms, China ($X) constituted the largest supplier of refrigerators and freezers to Venezuela, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Panama, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Panama (X% per year).

Import Prices by Country

The average refrigerator and freezer import price stood at $X per unit in 2022, approximately reflecting the previous year. Overall, the import price saw a deep setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Mexico ($X per unit), while the price for Democratic People's Republic of Korea ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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