Venezuela: Market for Vacuum Cleaners With Motor 2025

Market Size for Vacuum Cleaners With Motor in Venezuela

In 2021, the Venezuelan vacuum cleaner with motor market increased by 58% to $X, rising for the third year in a row after six years of decline. Overall, consumption, however, faced a precipitous curtailment. Vacuum cleaner with motor consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Vacuum Cleaners With Motor

Exports from Venezuela

In 2021, overseas shipments of vacuum cleaners with motor were finally on the rise to reach X tons after two years of decline. Overall, exports enjoyed prominent growth. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, vacuum cleaner with motor exports soared to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 514%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Lebanon (X kg) was the main destination for vacuum cleaner with motor exports from Venezuela, with a 83% share of total exports. Moreover, vacuum cleaner with motor exports to Lebanon exceeded the volume sent to the second major destination, the Dominican Republic (X kg), sevenfold. Costa Rica (X kg) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lebanon amounted to +697.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+71.4% per year) and Costa Rica (+6.7% per year).

In value terms, Lebanon ($X) remains the key foreign market for vacuum cleaners with motor exports from Venezuela, comprising 91% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 4.3% share of total exports. It was followed by the Dominican Republic, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value to Lebanon totaled +389.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+18.1% per year) and the Dominican Republic (+58.4% per year).

Export Prices by Country

The average vacuum cleaner with motor export price stood at $X per ton in 2021, dropping by -30.7% against the previous year. Overall, the export price, however, continues to indicate a temperate increase. The growth pace was the most rapid in 2020 when the average export price increased by 94%. As a result, the export price attained the peak level of $X per ton, and then fell sharply in the following year.

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 Guatemala ($X per ton), while the average price for exports to the Dominican Republic ($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 Panama (+61.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Cleaners With Motor

Imports into Venezuela

In 2021, supplies from abroad of vacuum cleaners with motor increased by 62% to X tons, rising for the third consecutive year after six years of decline. In general, imports, however, saw a sharp downturn. The pace of growth was the most pronounced in 2019 when imports increased by 202%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vacuum cleaner with motor imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a significant decline. The pace of growth appeared the most rapid in 2019 when imports increased by 130% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest vacuum cleaner with motor supplier to Venezuela, with a 68% share of total imports. Moreover, vacuum cleaner with motor imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Hungary (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-29.7% per year) and Hungary (-14.2% per year).

In value terms, China ($X), the United States ($X) and Spain ($X) were the largest vacuum cleaner with motor suppliers to Venezuela, together comprising 80% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +9.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average vacuum cleaner with motor import price amounted to $X per ton, remaining constant against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vacuum cleaner with motor import price increased by +2.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 44% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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