Venezuela: Telephone Apparatus Market 2022

Telephone Apparatus Market Size in Venezuela

In 2021, the Venezuelan telephone apparatus market decreased by -21.6% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a notable increase. As a result, consumption reached the peak level of $X, and then shrank significantly in the following year.

Telephone Apparatus Exports

Exports from Venezuela

In 2021, after four years of decline, there was significant growth in overseas shipments of telephone apparatus, when their volume increased by 13% to X tons. Overall, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 69%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, telephone apparatus exports soared to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 34% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for telephone apparatus exports from Venezuela, accounting for a 59% share of total exports. Moreover, telephone apparatus exports to Hong Kong SAR exceeded the volume sent to the second major destination, Ecuador (X tons), fourfold. Costa Rica (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+36.6% per year) and Costa Rica (-7.7% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for telephone apparatus exports from Venezuela, comprising 78% of total exports. The second position in the ranking was held by Senegal ($X), with a 13% share of total exports. It was followed by the United States, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (-1.6% per year) and the United States (-25.6% per year).

Export Prices by Country

The average telephone apparatus export price stood at $X per ton in 2021, rising by 7.8% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 104%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Senegal ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+48.1%), while the prices for the other major destinations experienced more modest paces of growth.

Telephone Apparatus Imports

Imports into Venezuela

After two years of growth, overseas purchases of telephone apparatus decreased by -22.2% to X tons in 2021. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by 293% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then reduced notably in the following year.

In value terms, telephone apparatus imports rose slightly to $X in 2021. Overall, imports faced a drastic downturn. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main telephone apparatus supplier to Venezuela, with a 96% share of total imports. It was followed by China (X tons), with a 3% share of total imports. Hong Kong SAR (X tons) ranked third in terms of total imports with a 0.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.9% per year) and Hong Kong SAR (-20.5% per year).

In value terms, the United States ($X) constituted the largest supplier of telephone apparatus to Venezuela, comprising 76% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-26.0% per year) and Hong Kong SAR (-28.8% per year).

Import Prices by Country

The average telephone apparatus import price stood at $X per ton in 2021, surging by 34% against the previous year. Overall, the import price, however, continues to indicate a significant curtailment. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+12.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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