Venezuela: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Venezuela

For the third year in a row, the Venezuelan spirits and liqueurs market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption showed a slight curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Spirits And Liqueurs Production in Venezuela

In value terms, spirits and liqueurs production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Spirits And Liqueurs Exports

Exports from Venezuela

In 2022, the amount of spirits, liqueurs and other spirituous beverages exported from Venezuela skyrocketed to X litres, with an increase of X% on 2021. In general, exports posted a remarkable increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, spirits and liqueurs exports soared to $X in 2022. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy (X litres), the Dominican Republic (X litres) and the United States (X litres) were the main destinations of spirits and liqueurs exports from Venezuela, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spirits and liqueurs exported from Venezuela were Italy ($X), the United States ($X) and France ($X), with a combined X% share of total exports. Spain, Germany, the Dominican Republic, the Netherlands and Chile lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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

The average spirits and liqueurs export price stood at $X per litre in 2022, reducing by X% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to the Dominican Republic ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into Venezuela

In 2022, imports of spirits, liqueurs and other spirituous beverages into Venezuela surged to X litres, increasing by X% on 2021 figures. Over the period under review, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, spirits and liqueurs imports skyrocketed to $X in 2022. Overall, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest supplier of spirits and liqueurs to Venezuela, accounting for a X% share of total imports. Moreover, spirits and liqueurs imports from the UK exceeded the figures recorded by the second-largest supplier, Suriname (X litres), twofold. The United States (X litres) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Suriname (X% per year) and the United States (X% per year).

In value terms, the UK ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Venezuela, comprising X% of total imports. The second position in the ranking was held by Suriname ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Suriname (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average spirits and liqueurs import price amounted to $X per litre, picking up by X% against the previous year. In general, the import price, however, recorded a mild contraction. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per litre in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Brazil ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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