Venezuela: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Venezuela

The Venezuelan wooden bedroom furniture market fell modestly to $X in 2022, waning by -1.7% against the previous year. Overall, consumption saw a relatively flat trend pattern. Wooden bedroom furniture consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in Venezuela

In value terms, wooden bedroom furniture production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 15% against the previous year. Wooden bedroom furniture production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Wooden Bedroom Furniture Exports

Exports from Venezuela

After two years of decline, overseas shipments of wooden furniture of a kind used in the bedroom increased by 193% to X units in 2022. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 770% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports skyrocketed to $X in 2022. In general, exports posted a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 616%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X units) was the main destination for wooden bedroom furniture exports from Venezuela, with a 77% share of total exports. Moreover, wooden bedroom furniture exports to the Dominican Republic exceeded the volume sent to the second major destination, Bahrain (X units), fivefold. The third position in this ranking was held by Australia (X units), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic totaled +56.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+48.2% per year) and Australia (0.0% per year).

In value terms, the Dominican Republic ($X) emerged as the key foreign market for wooden furniture of a kind used in the bedroom exports from Venezuela, comprising 61% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 22% share of total exports. It was followed by Australia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic stood at +46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+47.3% per year) and Australia (0.0% per year).

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, which is down by -12.6% against the previous year. Overall, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 an increase of 34% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to the Dominican Republic ($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 Aruba (+9.7%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Venezuela

After three years of growth, supplies from abroad of wooden furniture of a kind used in the bedroom decreased by -24.2% to X units in 2022. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 161%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, wooden bedroom furniture imports fell notably to $X in 2022. In general, imports showed a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 121% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X units), Italy (X units) and China (X units) were the main suppliers of wooden bedroom furniture imports to Venezuela, with a combined 58% share of total imports. The United States, Portugal and Germany lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +7.0%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Italy ($X) and the United States ($X) appeared to be the largest wooden bedroom furniture suppliers to Venezuela, with a combined 62% share of total imports. Brazil, Portugal and Germany lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Portugal, with a CAGR of +1.5%, 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 2022, the average wooden bedroom furniture import price amounted to $X per unit, falling by -4.2% against the previous year. Overall, the import price showed a mild decrease. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 China ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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