Venezuela: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Venezuela

The Venezuelan wooden office furniture market surged to $X in 2021, growing by 196% 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). In general, consumption, however, saw a deep reduction. Wooden office furniture consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Exports

Exports from Venezuela

In 2021, after three years of decline, there was significant decline in shipments abroad of wooden furniture of a kind used in offices, when their volume decreased by -83% to X units. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2017 with an increase of 186%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, wooden office furniture exports shrank significantly to $X in 2021. In general, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2017 when exports increased by 282% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X units), Guyana (X units) and Costa Rica (X units) were the main destinations of wooden office furniture exports from Venezuela. Moreover, wooden office furniture exports in Switzerland exceeded the figures recorded by the second-largest exporter, Guyana, twofold.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for wooden office furniture exported from Venezuela were Switzerland ($X), Costa Rica ($X) and Guyana ($X).

In terms of the main countries of destination, Switzerland, with a CAGR of +23.9%, saw 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

The average wooden office furniture export price stood at $X per unit in 2021, with an increase of 7.8% against the previous year. Overall, the export price posted mild growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 343% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Switzerland ($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 Panama (+33.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Venezuela

In 2021, the amount of wooden furniture of a kind used in offices imported into Venezuela surged to X units, growing by 269% against 2020 figures. Overall, imports, however, recorded a precipitous contraction. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports surged to $X in 2021. In general, imports, however, saw a abrupt setback. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of wooden office furniture to Venezuela, with a 50% share of total imports. Moreover, wooden office furniture imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. France (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-31.1% per year) and France (+38.3% per year).

In value terms, the largest wooden office furniture suppliers to Venezuela were the United States ($X), China ($X) and Italy ($X), together accounting for 75% of total imports. France, South Korea, Spain, Brazil and Colombia lagged somewhat behind, together accounting for a further 9.5%.

France, with a CAGR of +30.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, dropping by -27.7% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wooden office furniture import price increased by +10.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 53% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 Colombia ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+61.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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