Venezuela: Travel Set Market 2024

Travel Set Market Size in Venezuela

After three years of growth, the Venezuelan travel set market decreased by -4% to $X in 2021. Over the period under review, consumption, however, enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Travel Set Production in Venezuela

In value terms, travel set production reduced to $X in 2021 estimated in export price. In general, production, however, posted a strong increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 83% against the previous year. Travel set production peaked at $X in 2020, and then reduced in the following year.

Travel Set Exports

Exports from Venezuela

In 2021, exports of travel sets from Venezuela fell significantly to X units, with a decrease of -89.8% compared with the previous year's figure. Overall, exports recorded a sharp decline. The growth pace was the most rapid in 2019 with an increase of 203% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, travel set exports fell notably to $X in 2021. In general, exports faced a sharp reduction. The pace of growth was the most pronounced in 2017 with an increase of 309% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units), Panama (X units) and Costa Rica (X units) were the main destinations of travel set exports from Venezuela.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of -7.4%), while shipments for the other leaders experienced a decline.

In value terms, Panama ($X), the United States ($X) and Costa Rica ($X) were the largest markets for travel set exported from Venezuela worldwide, together accounting for 99% of total exports.

Among the main countries of destination, the United States, with a CAGR of -12.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, falling by -34.4% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 164% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020, and then shrank sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Travel Set Imports

Imports into Venezuela

In 2021, purchases abroad of travel sets increased by 12% to X units, rising for the third consecutive year after two years of decline. In general, imports, however, saw a pronounced downturn. The growth pace was the most rapid in 2019 when imports increased by 667% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, travel set imports shrank markedly to $X in 2021. Over the period under review, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 375%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest travel set supplier to Venezuela, accounting for a 62% share of total imports. Moreover, travel set imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), threefold. The third position in this ranking was held by Costa Rica (X units), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+40.7% per year) and Costa Rica (+115.7% per year).

In value terms, the largest travel set suppliers to Venezuela were China ($X), Spain ($X) and Costa Rica ($X), together accounting for 73% of total imports.

Costa Rica, with a CAGR of +123.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average travel set import price amounted to $X per unit, declining by -32.1% against the previous year. Overall, the import price saw a perceptible descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 77%. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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