Venezuela: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Venezuela

The Venezuelan umbrella and walking-stick market fell significantly to $X in 2022, which is down by -28.1% 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 showed a precipitous slump. Umbrella and walking-stick consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Umbrella And Walking-Stick Exports

Exports from Venezuela

In 2022, the amount of umbrellas and walking-sticks exported from Venezuela surged to X units, rising by 178% against 2021 figures. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 543%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, umbrella and walking-stick exports contracted dramatically to $X in 2022. Over the period under review, exports showed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 606%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Aruba (X units) was the main destination for umbrella and walking-stick exports from Venezuela, with a 83% share of total exports. Moreover, umbrella and walking-stick exports to Aruba exceeded the volume sent to the second major destination, Costa Rica (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Aruba stood at +64.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+16.2% per year) and the United States (+45.5% per year).

In value terms, Aruba ($X) remains the key foreign market for umbrellas and walking-sticks exports from Venezuela, comprising 79% of total exports. The second position in the ranking was taken by Costa Rica ($X), with an 8.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Aruba stood at +44.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+18.9% per year) and the United States (+46.8% per year).

Export Prices by Country

The average umbrella and walking-stick export price stood at $X per unit in 2022, reducing by -70.8% against the previous year. In general, the export price, however, saw a slight expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 374%. As a result, the export price reached the peak level of $X per unit, and then contracted rapidly in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Costa Rica ($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 Costa Rica (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Umbrella And Walking-Stick Imports

Imports into Venezuela

Umbrella and walking-stick imports into Venezuela dropped significantly to X units in 2022, with a decrease of -32.9% against the year before. Overall, imports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2021 with an increase of 197%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick imports shrank dramatically to $X in 2022. Over the period under review, imports saw a dramatic shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 99%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of umbrella and walking-stick to Venezuela, with a 77% share of total imports. Moreover, umbrella and walking-stick imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-28.1% per year) and the United States (-24.2% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas and walking-sticks to Venezuela, comprising 63% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 22% share of total imports. It was followed by Panama, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-11.7% per year) and Panama (-28.2% per year).

Import Prices by Country

In 2022, the average umbrella and walking-stick import price amounted to $X per unit, surging by 12% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella and walking-stick import price decreased by -24.8% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 63%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 ($X per unit), while the price for Taiwan (Chinese) ($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 (+35.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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