Venezuela: Hand Stamp Market 2024

Hand Stamp Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan hand stamp market, when its value decreased by -14.9% to $X. In general, consumption, however, faced a sharp reduction. Hand stamp consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hand Stamp Exports

Exports from Venezuela

In 2022, exports of stamps for use in the hand from Venezuela surged to X units, jumping by 67% compared with the previous year. Overall, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by 2,700%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, hand stamp exports skyrocketed to $X in 2022. Over the period under review, exports recorded a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 1,891%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X units) was the main destination for hand stamp exports from Venezuela, accounting for a 75% share of total exports. Moreover, hand stamp exports to Panama exceeded the volume sent to the second major destination, Bolivia (X units), fivefold. Spain (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama stood at +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+27.1% per year) and Spain (+19.6% per year).

In value terms, Panama ($X) remains the key foreign market for stamps for use in the hand exports from Venezuela, comprising 74% of total exports. The second position in the ranking was taken by Spain ($X), with a 19% share of total exports. It was followed by Bolivia, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to Panama amounted to +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+25.0% per year) and Bolivia (+10.6% per year).

Export Prices by Country

The average hand stamp export price stood at $X per unit in 2022, shrinking by -18.1% against the previous year. Over the period under review, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 90% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Bolivia ($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 Costa Rica (+34.0%), while the prices for the other major destinations experienced mixed trend patterns.

Hand Stamp Imports

Imports into Venezuela

In 2022, overseas purchases of stamps for use in the hand increased by 15% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports, however, saw a sharp decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 761%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, hand stamp imports reduced rapidly to $X in 2022. Overall, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 1,412% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Austria (X units) were the main suppliers of hand stamp imports to Venezuela, with a combined 75% share of total imports. Panama, Hong Kong SAR, Italy, Germany, the United States and Colombia lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of -5.2%), while imports for the other leaders experienced a decline.

In value terms, Taiwan (Chinese) ($X), Austria ($X) and Panama ($X) constituted the largest hand stamp suppliers to Venezuela, with a combined 67% share of total imports.

Panama, with a CAGR of -2.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average hand stamp import price amounted to $X per unit, waning by -34.3% against the previous year. Overall, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 an increase of 76%. The import price peaked at $X per unit in 2021, and then dropped dramatically in the following year.

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 Austria ($X per unit), while the price for Colombia ($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 (+35.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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