Venezuela: Inflatable Vessel Market 2022

Inflatable Vessel Market Size in Venezuela

In 2021, after two years of growth, there was significant decline in the Venezuelan inflatable vessel market, when its value decreased by -7.5% to $X. Over the period under review, consumption, however, showed a strong increase. Over the period under review, the market attained the maximum level at $X in 2020, and then declined in the following year.

Inflatable Vessel Production in Venezuela

In value terms, inflatable vessel production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 73%. Inflatable vessel production peaked at $X in 2020, and then shrank in the following year.

Inflatable Vessel Exports

Exports from Venezuela

In 2021, overseas shipments of inflatable vessels for pleasure or sports increased by 31% to X units, rising for the fifth consecutive year after two years of decline. Overall, exports enjoyed mild growth. The pace of growth was the most pronounced in 2013 with an increase of 100% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, inflatable vessel exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for inflatable vessel exports from Venezuela, with a 41% share of total exports. Moreover, inflatable vessel exports to the United States exceeded the volume sent to the second major destination, Panama (X units), fourfold. Spain (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (0.0% per year) and Spain (+26.0% per year).

In value terms, the United States ($X) remains the key foreign market for inflatable vessel exports from Venezuela, comprising 45% of total exports. The second position in the ranking was taken by Spain ($X), with a 13% share of total exports. It was followed by Chile, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+26.1% per year) and Chile (+4.8% per year).

Export Prices by Country

The average inflatable vessel export price stood at $X per unit in 2021, approximately reflecting the previous year. Over the period under review, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2015 when the average export price increased by 243% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Chile ($X per unit), while the average price for exports to the Netherlands ($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 (+2.5%), while the prices for the other major destinations experienced a decline.

Inflatable Vessel Imports

Imports into Venezuela

In 2021, approx. X units of inflatable vessels for pleasure or sports were imported into Venezuela; waning by -28.2% on the year before. Overall, imports faced a sharp descent. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, inflatable vessel imports soared to $X in 2021. Over the period under review, imports continue to indicate a dramatic setback. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest inflatable vessel supplier to Venezuela, with a 57% share of total imports. Moreover, inflatable vessel imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X units), twofold. The third position in this ranking was taken by Brazil (X units), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-40.3% per year) and Brazil (-49.4% per year).

In value terms, Colombia ($X) constituted the largest supplier of inflatable vessel to Venezuela, comprising 92% of total imports. The second position in the ranking was taken by China ($X), with a 3.8% share of total imports. It was followed by Brazil, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value from Colombia amounted to -25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-39.2% per year) and Brazil (-44.2% per year).

Import Prices by Country

In 2021, the average inflatable vessel import price amounted to $X per unit, growing by 82% against the previous year. Overall, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 96% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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