Venezuela: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Venezuela

The Venezuelan market for iron or steel gas domestic cooking appliances and plate warmers stood at $X in 2022, growing by 2.5% 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). Over the period under review, consumption continues to indicate a dramatic shrinkage. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Venezuela

After four years of decline, shipments abroad of iron or steel gas domestic cooking appliances and plate warmers increased by 57% to X units in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 265%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers soared to $X in 2022. In general, exports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2013 when exports increased by 202%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Cuba (X units) was the main destination for exports of iron or steel gas domestic cooking appliances and plate warmers from Venezuela, accounting for a 77% share of total exports. Moreover, exports of iron or steel gas domestic cooking appliances and plate warmers to Cuba exceeded the volume sent to the second major destination, Poland (X units), sixfold. The Czech Republic (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and the Czech Republic (0.0% per year).

In value terms, Cuba ($X) remains the key foreign market for iron or steel gas domestic cooking appliances and plate warmers exports from Venezuela, comprising 93% of total exports. The second position in the ranking was taken by Poland ($X), with a 1.3% share of total exports. It was followed by the Dominican Republic, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Cuba stood at -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and the Dominican Republic (-10.0% per year).

Export Prices by Country

In 2022, the average export price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, surging by 41% against the previous year. Overall, the export price, however, faced a drastic downturn. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to the Czech Republic ($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 Cuba (-10.2%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Venezuela

In 2022, overseas purchases of iron or steel gas domestic cooking appliances and plate warmers decreased by -11.5% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a significant decline. The pace of growth was the most pronounced in 2020 when imports increased by 69% against the previous year. Over the period under review, imports of hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers rose rapidly to $X in 2022. In general, imports saw a sharp descent. The growth pace was the most rapid in 2020 with an increase of 66%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ecuador (X units) constituted the largest iron or steel gas domestic cooking appliances and plate warmers supplier to Venezuela, accounting for a 54% share of total imports. Moreover, imports of iron or steel gas domestic cooking appliances and plate warmers from Ecuador exceeded the figures recorded by the second-largest supplier, Brazil (X units), fourfold. The third position in this ranking was taken by China (X units), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from Ecuador stood at -18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-19.4% per year) and China (-29.2% per year).

In value terms, Ecuador ($X) constituted the largest supplier of iron or steel gas domestic cooking appliances and plate warmers to Venezuela, comprising 59% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Mexico, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ecuador totaled -18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-27.5% per year) and Mexico (-28.0% per year).

Import Prices by Country

In 2022, the average import price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, with an increase of 25% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, 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 the United States ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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