Venezuela: Industrial Bakery Machinery Market 2022

Industrial Bakery Machinery Market Size in Venezuela

In 2021, the Venezuelan industrial bakery machinery market decreased by -X% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, faced a precipitous decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Industrial Bakery Machinery Exports

Exports from Venezuela

In 2021, overseas shipments of industrial bakery machinery increased by X% to X units for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, industrial bakery machinery exports expanded remarkably to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Costa Rica (X units) and Italy (X units) were the main destinations of industrial bakery machinery exports from Venezuela.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +X%), while the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for industrial bakery machinery exports from Venezuela, comprising X% of total exports. The second position in the ranking was occupied by Italy ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-X% per year) and Costa Rica (+X% per year).

Export Prices by Country

The average industrial bakery machinery export price stood at $X per unit in 2021, increasing by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Costa Rica ($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 Italy (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Bakery Machinery Imports

Imports into Venezuela

For the third consecutive year, Venezuela recorded growth in supplies from abroad of industrial bakery machinery, which increased by X% to X units in 2021. In general, imports, however, saw a dramatic setback. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, industrial bakery machinery imports dropped to $X in 2021. Overall, imports, however, saw a precipitous setback. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X units) constituted the largest industrial bakery machinery supplier to Venezuela, accounting for a X% share of total imports. Moreover, industrial bakery machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Lebanon (X units), more than tenfold.

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

In value terms, Italy ($X) constituted the largest supplier of industrial bakery machinery to Venezuela, comprising X% of total imports. The second position in the ranking was occupied by Lebanon ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (-X% per year) and Austria (-X% per year).

Import Prices by Country

The average industrial bakery machinery import price stood at $X per unit in 2021, falling by -X% against the previous year. Over the period under review, the import price showed a perceptible downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

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

Source: IndexBox Platform