Venezuela: Metal Gas Appliances Market 2023

Metal Gas Appliances Market Size in Venezuela

The Venezuelan metal gas appliances market skyrocketed to $X in 2022, picking up by 301% 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). Overall, consumption, however, saw a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Metal Gas Appliances Exports

Exports from Venezuela

After four years of growth, overseas shipments of iron or steel gas domestic appliances decreased by -4.8% to X units in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal gas appliances exports fell modestly to $X in 2022. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 35%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Aruba (X units) was the main destination for metal gas appliances exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Aruba amounted to -8.2%.

In value terms, Aruba ($X) also remains the key foreign market for iron or steel gas domestic appliances exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Aruba totaled -7.5%.

Export Prices by Country

In 2022, the average metal gas appliances export price amounted to $X per unit, increasing by 2.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 29%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Aruba.

From 2012 to 2022, the rate of growth in terms of prices for Portugal amounted to +10.0% per year.

Metal Gas Appliances Imports

Imports into Venezuela

Metal gas appliances imports into Venezuela soared to X units in 2022, growing by 355% against the year before. Over the period under review, imports, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2019 with an increase of 967% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal gas appliances imports surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 1,004%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Panama (X units) constituted the largest supplier of metal gas appliances to Venezuela, accounting for a 79% share of total imports. Moreover, metal gas appliances imports from Panama exceeded the figures recorded by the second-largest supplier, China (X units), tenfold. The third position in this ranking was held by Thailand (X units), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from Panama was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-34.8% per year) and Thailand (-16.9% per year).

In value terms, Panama ($X) constituted the largest supplier of iron or steel gas domestic appliances to Venezuela, comprising 81% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.3% share of total imports. It was followed by China, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Panama stood at +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-20.1% per year) and China (-31.2% per year).

Import Prices by Country

The average metal gas appliances import price stood at $X per unit in 2022, which is down by -32.5% against the previous year. In general, the import price, however, showed a noticeable increase. The pace of growth was the most pronounced in 2014 an increase of 178% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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