Venezuela: Fuel Filter Market 2022

Fuel Filter Market Size in Venezuela

The Venezuelan fuel filter market declined markedly to $X in 2021, which is down by -X% 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 continues to indicate a precipitous decline. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Fuel Filter Exports

Exports from Venezuela

In 2021, exports of oil or petrol-filters for internal combustion engines from Venezuela surged to X units, rising by X% compared with 2020. Over the period under review, exports saw a moderate increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, fuel filter exports skyrocketed to $X in 2021. In general, exports posted pronounced growth. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for fuel filter exports from Venezuela, accounting for a X% share of total exports. Moreover, fuel filter exports to the United States exceeded the volume sent to the second major destination, Canada (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +X%.

In value terms, the United States ($X) remains the key foreign market for fuel filter exports from Venezuela, comprising X% of total exports. The second position in the ranking was occupied by Canada ($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 stood at +X%.

Export Prices by Country

The average fuel filter export price stood at $X per unit in 2021, dropping by -X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-X%).

Fuel Filter Imports

Imports into Venezuela

Fuel filter imports into Venezuela contracted to X units in 2021, dropping by -X% on the previous year's figure. Overall, imports faced a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth imports failed to regain momentum.

In value terms, fuel filter imports declined to $X in 2021. Over the period under review, imports continue to indicate a significant curtailment. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest fuel filter supplier to Venezuela, with a X% share of total imports. Moreover, fuel filter imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. Turkey (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and Turkey (+X% per year).

In value terms, the United States ($X) constituted the largest supplier of fuel filter to Venezuela, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-X% per year) and Turkey (+X% per year).

Import Prices by Country

In 2021, the average fuel filter import price amounted to $X per unit, declining by -X% against the previous year. In general, the import price faced a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 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 the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform