Venezuela: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Venezuela

In 2022, the Venezuelan market for spray guns and similar appliances decreased by -25.4% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a sharp slump. Spray guns and similar appliances consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Spray Guns And Similar Appliances

Exports from Venezuela

Spray guns and similar appliances exports from Venezuela soared to X units in 2022, increasing by 29% on the previous year. In general, exports posted a noticeable expansion. The growth pace was the most rapid in 2019 when exports increased by 1,457% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, spray guns and similar appliances exports shrank remarkably to $X in 2022. Over the period under review, exports, however, saw a noticeable slump. The pace of growth was the most pronounced in 2019 when exports increased by 662% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X units) was the main destination for spray guns and similar appliances exports from Venezuela, with a 51% share of total exports. Moreover, spray guns and similar appliances exports to Aruba exceeded the volume sent to the second major destination, Colombia (X units), twofold. Panama (X units) ranked third in terms of total exports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Aruba amounted to +42.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+12.6% per year) and Panama (+23.0% per year).

In value terms, Aruba ($X), Panama ($X) and Colombia ($X) appeared to be the largest markets for spray guns and similar appliances exported from Venezuela worldwide, with a combined 95% share of total exports. Costa Rica and the Dominican Republic lagged somewhat behind, together accounting for a further 4.7%.

The Dominican Republic, with a CAGR of +88.0%, saw the highest growth rate of the value of exports, among the main countries of destination 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 export price for spray guns and similar appliances amounted to $X per unit, dropping by -44.4% against the previous year. Overall, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 83%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Panama ($X per unit), while the average price for exports to Costa Rica ($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 the United States (+69.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spray Guns And Similar Appliances

Imports into Venezuela

After three years of growth, purchases abroad of spray guns and similar appliances decreased by -30.1% to X units in 2022. In general, imports showed a dramatic setback. The most prominent rate of growth was recorded in 2021 with an increase of 166%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, spray guns and similar appliances imports dropped significantly to $X in 2022. Overall, imports saw a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 98% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of spray guns and similar appliances to Venezuela, accounting for a 72% share of total imports. Moreover, spray guns and similar appliances imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X units), more than tenfold. The third position in this ranking was taken by the UK (X units), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+27.0% per year) and the UK (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of spray guns and similar appliances to Venezuela, comprising 52% of total imports. The second position in the ranking was held by Argentina ($X), with a 20% share of total imports. It was followed by the UK, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+26.5% per year) and the UK (-2.0% per year).

Import Prices by Country

The average import price for spray guns and similar appliances stood at $X per unit in 2022, surging by 11% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 37% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 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 Mexico ($X per unit), while the price for South Korea (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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