Venezuela: Telephone Market 2024

Telephone Market Size in Venezuela

In 2022, after two years of growth, there was significant decline in the Venezuelan telephone market, when its value decreased by -15.5% to $X. Overall, consumption showed a noticeable shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Telephone Production in Venezuela

In value terms, telephone production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 42% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Telephone Exports

Exports from Venezuela

In 2022, shipments abroad of telephones and videophones increased by 152% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 4,157%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, telephone exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 1,979% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for telephone exports from Venezuela, accounting for a 86% share of total exports. Moreover, telephone exports to Ecuador exceeded the volume sent to the second major destination, Panama (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at +60.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-1.5% per year) and Germany (+12.1% per year).

In value terms, Ecuador ($X) remains the key foreign market for telephones and videophones exports from Venezuela, comprising 74% of total exports. The second position in the ranking was held by Panama ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled +61.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+0.9% per year) and Germany (+21.7% per year).

Export Prices by Country

The average telephone export price stood at $X per unit in 2022, shrinking by -20.4% against the previous year. Over the period under review, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 164% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Ecuador ($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 Lebanon (+90.0%), while the prices for the other major destinations experienced more modest paces of growth.

Telephone Imports

Imports into Venezuela

After three years of growth, purchases abroad of telephones and videophones decreased by -27.6% to X units in 2022. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 437%. Imports peaked at X units in 2021, and then fell rapidly in the following year.

In value terms, telephone imports reduced notably to $X in 2022. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 320% against the previous year. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, the United States (X units) was the main supplier of telephone to Venezuela, with a 98% share of total imports. It was followed by China (X units), with a 1.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +23.7%.

In value terms, the United States ($X) constituted the largest supplier of telephones and videophones to Venezuela, comprising 100% of total imports. The second position in the ranking was held by China ($X), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +22.4%.

Import Prices by Country

The average telephone import price stood at $X per unit in 2022, shrinking by -2.4% against the previous year. Over the period under review, the import price, however, saw a temperate increase. The growth pace was the most rapid in 2018 an increase of 151%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average 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 unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.0%).

Source: IndexBox Platform

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