Venezuela: Technical Textiles Market 2024

Technical Textiles Market Size in Venezuela

The Venezuelan technical textiles market skyrocketed to $X in 2021, growing by 17% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Technical textiles consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Technical Textiles Production in Venezuela

In value terms, technical textiles production declined to $X in 2021 estimated in export price. Overall, production, however, showed significant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 813%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Technical Textiles Exports

Exports from Venezuela

In 2021, approx. X tons of textile products and articles for technical uses were exported from Venezuela; waning by -41.2% against 2020 figures. Over the period under review, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 793% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, technical textiles exports skyrocketed to $X in 2021. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 138% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The Dominican Republic (X tons) was the main destination for technical textiles exports from Venezuela, with a 82% share of total exports. Moreover, technical textiles exports to the Dominican Republic exceeded the volume sent to the second major destination, Colombia (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic stood at +101.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-1.4% per year) and Panama (-19.2% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for textile products and articles for technical uses exports from Venezuela, comprising 82% of total exports. The second position in the ranking was taken by Colombia ($X), with an 8.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic stood at +135.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-1.8% per year) and Panama (-21.2% per year).

Export Prices by Country

The average technical textiles export price stood at $X per ton in 2021, surging by 173% against the previous year. In general, the export price showed notable growth. The most prominent rate of growth was recorded in 2017 an increase of 331%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Panama ($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 Dominican Republic (+16.5%), while the prices for the other major destinations experienced a decline.

Technical Textiles Imports

Imports into Venezuela

In 2021, imports of textile products and articles for technical uses into Venezuela skyrocketed to X tons, with an increase of 102% on the previous year. Overall, imports, however, saw a sharp contraction. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, technical textiles imports soared to $X in 2021. In general, imports, however, saw a precipitous decrease. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X tons), China (X tons) and the United States (X tons) were the main suppliers of technical textiles imports to Venezuela, with a combined 43% share of total imports. Brazil, Argentina, Hong Kong SAR, the United Arab Emirates, Colombia, Ecuador, Peru and Uruguay lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +5.8%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X), Brazil ($X) and Argentina ($X) constituted the largest technical textiles suppliers to Venezuela, with a combined 41% share of total imports. These countries were followed by Spain, the United Arab Emirates, China, Colombia, Ecuador, Hong Kong SAR, Peru and Uruguay, which together accounted for a further 22%.

The United Arab Emirates, with a CAGR of +16.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average technical textiles import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the import price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2019 an increase of 24%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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