Venezuela: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Venezuela

In 2021, the Venezuelan bed-convertible seat market increased by 120% to $X, rising for the second consecutive year after six years of decline. Over the period under review, consumption, however, continues to indicate a sharp slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Bed-Convertible Seat Exports

Exports from Venezuela

In 2021, bed-convertible seat exports from Venezuela soared to X units, surging by 58% on the year before. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 633% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, bed-convertible seat exports soared to $X in 2021. Over the period under review, exports posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 405%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Dominican Republic (X units) was the main destination for bed-convertible seat exports from Venezuela, accounting for a 77% share of total exports. Moreover, bed-convertible seat exports to the Dominican Republic exceeded the volume sent to the second major destination, Aruba (X units), fourfold. Panama (X units) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic amounted to +53.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+13.0% per year) and Panama (-27.5% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for seats convertible into beds exports from Venezuela, comprising 58% of total exports. The second position in the ranking was held by Aruba ($X), with a 29% share of total exports. It was followed by Panama, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic stood at +57.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+19.2% per year) and Panama (-13.2% per year).

Export Prices by Country

In 2021, the average bed-convertible seat export price amounted to $X per unit, waning by -6.7% against the previous year. Overall, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bed-convertible seat export price decreased by -30.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 65% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Panama ($X per unit), while the average price for exports to the Dominican Republic ($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 Panama (+21.7%), while the prices for the other major destinations experienced mixed trend patterns.

Bed-Convertible Seat Imports

Imports into Venezuela

In 2021, supplies from abroad of seats convertible into beds increased by 166% to X units, rising for the second consecutive year after six years of decline. In general, imports, however, continue to indicate a deep downturn. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, bed-convertible seat imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a sharp downturn. The pace of growth appeared the most rapid in 2020 with an increase of 194%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Mexico (X units) were the main suppliers of bed-convertible seat imports to Venezuela, together accounting for 79% of total imports. These countries were followed by Hong Kong SAR, Portugal, Turkey, Colombia and Panama, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of seats convertible into beds to Venezuela, comprising 50% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 9.9% share of total imports. It was followed by the United States, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-14.4% per year) and the United States (-22.3% per year).

Import Prices by Country

In 2021, the average bed-convertible seat import price amounted to $X per unit, falling by -24.5% against the previous year. In general, the import price saw a abrupt contraction. The growth pace was the most rapid in 2020 an increase of 11% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 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 Panama ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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