Venezuela: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Venezuela

In 2021, the Venezuelan metal frame upholstered seat market increased by 120% to $X, rising for the third consecutive year after three years of decline. Over the period under review, consumption, however, saw a deep slump. Metal frame upholstered seat consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Upholstered Seats With Metal Frames

Exports from Venezuela

In 2021, shipments abroad of upholstered seats with metal frames increased by 48% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 667% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, metal frame upholstered seat exports expanded remarkably to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 613%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for metal frame upholstered seat exports from Venezuela, accounting for a 78% share of total exports. Moreover, metal frame upholstered seat exports to Canada exceeded the volume sent to the second major destination, the United States (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to +124.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.3% per year) and Costa Rica (+12.2% per year).

In value terms, Canada ($X) remains the key foreign market for upholstered seats with metal frames exports from Venezuela, comprising 80% of total exports. The second position in the ranking was taken by the United States ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +114.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.8% per year) and Costa Rica (-1.2% per year).

Export Prices by Country

In 2021, the average metal frame upholstered seat export price amounted to $X per unit, with a decrease of -22.9% against the previous year. Overall, the export price, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 112%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.8%), while the prices for the other major destinations experienced a decline.

Imports of Upholstered Seats With Metal Frames

Imports into Venezuela

In 2021, approx. X units of upholstered seats with metal frames were imported into Venezuela; picking up by 94% against the previous year's figure. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2020 when imports increased by 176%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, metal frame upholstered seat imports soared to $X in 2021. Over the period under review, imports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2020 with an increase of 186%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal frame upholstered seat to Venezuela, with a 77% share of total imports. Moreover, metal frame upholstered seat imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -15.2%.

In value terms, China ($X) constituted the largest supplier of upholstered seats with metal frames to Venezuela, comprising 71% of total imports. The second position in the ranking was held by Italy ($X), with a 9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -4.3%.

Import Prices by Country

In 2021, the average metal frame upholstered seat import price amounted to $X per unit, with an increase of 21% against the previous year. In general, the import price posted a resilient expansion. The growth pace was the most rapid in 2013 an increase of 44% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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