Venezuela: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Venezuela

The Venezuelan tennis and badminton rackets market surged to $X in 2022, picking up by 441% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports from Venezuela

In 2022, overseas shipments of tennis, badminton or similar rackets increased by 62% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 179%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, tennis and badminton rackets exports soared to $X in 2022. Overall, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 335% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica (X units), Spain (X units) and Guatemala (X units) were the main destinations of tennis and badminton rackets exports from Venezuela, together comprising 52% of total exports. Moreover, tennis and badminton rackets exports in Costa Rica exceeded the figures recorded by the second-largest exporter, Spain, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of -6.7%), while the other leaders experienced a decline.

In value terms, Chile ($X), Costa Rica ($X) and Spain ($X) constituted the largest markets for tennis and badminton rackets exported from Venezuela worldwide, with a combined 50% share of total exports. Guatemala and the United States lagged somewhat behind, together accounting for a further 13%.

Guatemala, with a CAGR of +2.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, surging by 16% against the previous year. In general, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 102%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to the United States ($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 Netherlands (+1,115.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports into Venezuela

In 2022, approx. X units of tennis, badminton or similar rackets were imported into Venezuela; increasing by 463% on 2021. Overall, imports, however, showed a abrupt contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tennis and badminton rackets imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a deep slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Spain (X units) and Italy (X units) were the main suppliers of tennis and badminton rackets imports to Venezuela, with a combined 40% share of total imports. Panama, Hong Kong SAR, Sweden, Portugal, France and the United States lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Panama ($X) and Hong Kong SAR ($X) were the largest tennis and badminton rackets suppliers to Venezuela, together accounting for 41% of total imports. Italy, Spain, Sweden, Portugal, the United States and France lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Sweden, with a CAGR of +48.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tennis and badminton rackets import price stood at $X per unit in 2022, waning by -8% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 61%. The import price peaked at $X per unit in 2020; however, from 2021 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 Hong Kong SAR ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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