Venezuela: Bracelet Market 2024

Bracelet Market Size in Venezuela

For the third consecutive year, the Venezuelan bracelet market recorded decline in sales value, which decreased by -5.8% to $X in 2022. Overall, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -26.5% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Bracelet Production in Venezuela

In value terms, bracelet production contracted to $X in 2022 estimated in export price. In general, production, however, showed a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 83%. Bracelet production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Bracelet Exports

Exports from Venezuela

After three years of decline, shipments abroad of watch straps, bands and bracelets increased by 97% to X units in 2022. Over the period under review, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 1,632% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bracelet exports surged to $X in 2022. Overall, exports, however, saw a deep reduction. The growth pace was the most rapid in 2018 with an increase of 1,653%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X units) and Switzerland (X units) were the main destinations of bracelet exports from Venezuela.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +54.8%).

In value terms, Spain ($X) emerged as the key foreign market for watch straps, bands and bracelets exports from Venezuela, comprising 45% of total exports. The second position in the ranking was held by Switzerland ($X), with a 6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to -12.0%.

Export Prices by Country

In 2022, the average bracelet export price amounted to $X per unit, jumping by 125% against the previous year. In general, the export price saw a mild increase. The pace of growth was the most pronounced in 2013 an increase of 149%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Switzerland stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.

Bracelet Imports

Imports into Venezuela

Bracelet imports into Venezuela surged to X units in 2022, growing by 40% against the previous year's figure. In general, imports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 2,366% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bracelet imports surged to $X in 2022. Overall, imports, however, showed a significant decline. The pace of growth appeared the most rapid in 2019 when imports increased by 245% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Switzerland (X units), Germany (X units) and China (X units) were the main suppliers of bracelet imports to Venezuela, together comprising 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +43.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of watch straps, bands and bracelets to Venezuela, comprising 75% of total imports. The second position in the ranking was held by Switzerland ($X), with a 19% share of total imports. It was followed by Sweden, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-21.2% per year) and Sweden (+28.3% per year).

Import Prices by Country

In 2022, the average bracelet import price amounted to $X per unit, jumping by 34% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 326% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 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 the United States ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+45.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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