Venezuela: Mounted Lens Market 2022

Mounted Lens Market Size in Venezuela

The Venezuelan mounted lens market was finally on the rise to reach $X in 2021, after eight years of decline. Over the period under review, consumption, however, recorded a abrupt contraction. Mounted lens consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Mounted Lens Exports

Exports from Venezuela

In 2021, shipments abroad of mounted lenses, prisms and mirrors increased by 20% to X kg for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by 323%. As a result, the exports reached the peak of X kg. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, mounted lens exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2014 with an increase of 73% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Chile (X kg) was the main destination for mounted lens exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile totaled -11.4%.

In value terms, Chile ($X) emerged as the key foreign market for mounted lens exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Chile stood at +11.8%.

Export Prices by Country

In 2021, the average mounted lens export price amounted to $X per ton, increasing by 16% against the previous year. Over the period under review, the export price, however, recorded a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 192% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Austria amounted to +27.5% per year.

Mounted Lens Imports

Imports into Venezuela

In 2021, supplies from abroad of mounted lenses, prisms and mirrors was finally on the rise to reach X kg for the first time since 2015, thus ending a five-year declining trend. In general, imports, however, showed a abrupt descent. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, mounted lens imports amounted to $X in 2021. Over the period under review, imports, however, saw a abrupt curtailment. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X kg), India (X kg) and Spain (X kg) were the main suppliers of mounted lens imports to Venezuela, together accounting for 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +19.8%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X), India ($X) and Spain ($X) appeared to be the largest mounted lens suppliers to Venezuela, with a combined 99% share of total imports.

Among the main suppliers, India, with a CAGR of -4.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average mounted lens import price stood at $X per ton in 2021, shrinking by -15.2% against the previous year. Over the period under review, the import price, however, saw a tangible expansion. The pace of growth was the most pronounced in 2016 an increase of 86% against the previous year. The import price peaked at $X per ton in 2020, and then dropped markedly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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