Venezuela: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Venezuela

For the third year in a row, the Venezuelan spirits and liqueurs market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption saw a mild curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Spirits And Liqueurs Production in Venezuela

In value terms, spirits and liqueurs production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Spirits And Liqueurs Exports

Exports from Venezuela

Spirits and liqueurs exports from Venezuela skyrocketed to X litres in 2022, with an increase of X% against the previous year's figure. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, spirits and liqueurs exports skyrocketed to $X in 2022. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Italy (X litres), the Dominican Republic (X litres) and the United States (X litres) were the main destinations of spirits and liqueurs exports from Venezuela, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spirits and liqueurs exported from Venezuela were Italy ($X), the United States ($X) and France ($X), together comprising X% of total exports. Spain, Germany, the Dominican Republic, the Netherlands and Chile lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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 spirits and liqueurs export price amounted to $X per litre, dropping by X% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per litre in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to the Dominican Republic ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into Venezuela

In 2022, imports of spirits, liqueurs and other spirituous beverages into Venezuela surged to X litres, rising by X% compared with 2021. Over the period under review, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, spirits and liqueurs imports soared to $X in 2022. Overall, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest spirits and liqueurs supplier to Venezuela, accounting for a X% share of total imports. Moreover, spirits and liqueurs imports from the UK exceeded the figures recorded by the second-largest supplier, Suriname (X litres), twofold. The United States (X litres) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Suriname (X% per year) and the United States (X% per year).

In value terms, the UK ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Venezuela, comprising X% of total imports. The second position in the ranking was taken by Suriname ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average spirits and liqueurs import price amounted to $X per litre, picking up by X% against the previous year. In general, the import price, however, showed a slight curtailment. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked at $X per litre in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the United States ($X per litre), while the price for Brazil ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Suriname (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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