Venezuela: Spectacle Frame Market 2022

Spectacle Frame Market Size in Venezuela

The Venezuelan spectacle frame market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption faced a precipitous decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Spectacle Frame Exports

Exports from Venezuela

In 2021, approx. X units of frames and mountings for spectacles, goggles or the like were exported from Venezuela; with an increase of X% against the previous year's figure. In general, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, spectacle frame exports declined to $X in 2021. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X units) was the main destination for spectacle frame exports from Venezuela, accounting for a X% share of total exports. Moreover, spectacle frame exports to the Dominican Republic exceeded the volume sent to the second major destination, Guatemala (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Chile (-X% per year).

In value terms, the largest markets for spectacle frame exported from Venezuela were the Dominican Republic ($X), Guatemala ($X) and Chile ($X the main countries of destination, the Dominican Republic, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average spectacle frame export price stood at $X per unit in 2021, reducing by -X% against the previous year. Overall, the export price saw a mild shrinkage. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per unit), while the average price for exports to the Dominican Republic ($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 Chile (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacle Frame Imports

Imports into Venezuela

For the third year in a row, Venezuela recorded decline in supplies from abroad of frames and mountings for spectacles, goggles or the like, which decreased by -X% to X units in 2021. Overall, imports saw a sharp decline. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, spectacle frame imports surged to $X in 2021. Over the period under review, imports showed a dramatic contraction. The pace of growth was the most pronounced in 2018 with an increase of X% 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 units) constituted the largest supplier of spectacle frame to Venezuela, accounting for a X% share of total imports. Moreover, spectacle frame imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sevenfold.

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

In value terms, the largest spectacle frame suppliers to Venezuela were China ($X), the United States ($X) and Italy ($X), with a combined X% share of total imports.

The United States, with a CAGR of -X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average spectacle frame import price stood at $X per unit in 2021, surging by X% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle frame import price increased by +X% against 2018 indices. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :