Venezuela: Radio Receiver Market 2023

Radio Receiver Market Size in Venezuela

In 2022, after three years of growth, there was significant decline in the Venezuelan radio receiver market, when its value decreased by -32.3% to $X. In general, consumption showed a deep reduction. Radio receiver consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Radio Receiver Exports

Exports from Venezuela

In 2022, shipments abroad of radio receivers was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2016 with an increase of 495% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, radio receiver exports reached $X in 2022. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 387% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X units), Costa Rica (X units) and Panama (X units) were the main destinations of radio receiver exports from Venezuela, with a combined 70% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guyana (with a CAGR of +45.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for radio receiver exported from Venezuela were Guyana ($X), Costa Rica ($X) and the Dominican Republic ($X), with a combined 67% share of total exports.

Guyana, with a CAGR of +96.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average radio receiver export price amounted to $X per unit, waning by -42% against the previous year. Overall, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 99%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then declined dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Aruba ($X per unit), while the average price for exports to Guyana ($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 the United States (+48.3%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Receiver Imports

Imports into Venezuela

In 2022, after three years of growth, there was significant decline in overseas purchases of radio receivers, when their volume decreased by -32.3% to X units. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 316% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, radio receiver imports contracted markedly to $X in 2022. Over the period under review, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 279% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of radio receiver to Venezuela, accounting for a 96% share of total imports. It was followed by Panama (X units), with a 1.3% share of total imports. The United States (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-25.1% per year) and the United States (-28.4% per year).

In value terms, China ($X) constituted the largest supplier of radio receivers to Venezuela, comprising 84% of total imports. The second position in the ranking was taken by Panama ($X), with a 7.2% share of total imports. It was followed by the United States, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-32.4% per year) and the United States (-25.4% per year).

Import Prices by Country

The average radio receiver import price stood at $X per unit in 2022, surging by 1.9% against the previous year. Over the period under review, the import price, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2017 an increase of 231% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($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 (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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