Venezuela: Tobacco Market 2024

Tobacco Market Size in Venezuela

The Venezuelan tobacco market reduced to $X in 2021, almost unchanged from the previous year. In general, consumption showed a pronounced descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Tobacco Production in Venezuela

In value terms, tobacco production contracted to $X in 2021 estimated in export price. In general, production saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by 4.7%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Tobacco Exports

Exports from Venezuela

Tobacco exports from Venezuela shrank to X tons in 2021, with a decrease of -6.8% against 2020. Over the period under review, exports continue to indicate a abrupt shrinkage. The smallest decline of -4.5% was in 2020. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tobacco exports contracted to $X in 2021. Overall, exports continue to indicate a abrupt descent. The smallest decline of -9.5% was in 2020. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for tobacco exports from Venezuela, with a 72% share of total exports. Moreover, tobacco exports to Lithuania exceeded the volume sent to the second major destination, Belgium (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lithuania totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-15.2% per year) and the Netherlands (-3.2% per year).

In value terms, the Netherlands ($X), Germany ($X) and Lithuania ($X) were the largest markets for tobacco exported from Venezuela worldwide, with a combined 73% share of total exports.

The Netherlands, with a CAGR of +3.5%, recorded the highest growth rate of 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

In 2021, the average tobacco export price amounted to $X per ton, with a decrease of -3.4% against the previous year. Overall, the export price saw a perceptible shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Lithuania ($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 Germany (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Imports

Imports into Venezuela

In 2021, overseas purchases of tobacco (smoking tobacco, chewing tobacco, snuff) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 93% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, tobacco imports skyrocketed to $X in 2021. Over the period under review, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 112% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of tobacco to Venezuela, with a 52% share of total imports. Moreover, tobacco imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-33.6% per year) and Brazil (-4.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of tobacco (smoking tobacco, chewing tobacco, snuff) to Venezuela, comprising 48% of total imports. The second position in the ranking was taken by Turkey ($X), with a 20% share of total imports. It was followed by Colombia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+19.1% per year) and Colombia (-36.8% per year).

Import Prices by Country

The average tobacco import price stood at $X per ton in 2021, with a decrease of -15.2% against the previous year. Over the period under review, the import price showed a mild decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 46%. The import price peaked at $X per ton in 2020, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+25.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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