Venezuela: Technical Textiles Market 2024

Technical Textiles Market Size in Venezuela

In 2023, the Venezuelan technical textiles market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Overall, consumption, however, saw a relatively flat trend pattern. Technical textiles consumption peaked at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Technical Textiles Production in Venezuela

In value terms, technical textiles production expanded notably to $X in 2023 estimated in export price. In general, production, however, showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Technical Textiles Exports

Exports from Venezuela

After three years of decline, shipments abroad of textile products and articles for technical uses increased by X% to X tons in 2023. Over the period under review, total exports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.

In value terms, technical textiles exports totaled $X in 2023. Overall, exports posted buoyant growth. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Panama (X kg) was the main destination for technical textiles exports from Venezuela, accounting for a X% share of total exports. It was followed by the Dominican Republic (X kg), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Panama amounted to X%.

In value terms, Panama ($X) remains the key foreign market for textile products and articles for technical uses exports from Venezuela, comprising X% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with less than X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Panama totaled X%.

Export Prices by Country

The average technical textiles export price stood at $X per ton in 2023, approximately mirroring the previous year. Overall, the export price posted resilient growth. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the Dominican Republic stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (X%).

Technical Textiles Imports

Imports into Venezuela

In 2023, after two years of growth, there was significant decline in purchases abroad of textile products and articles for technical uses, when their volume decreased by X% to X tons. Over the period under review, imports recorded a sharp reduction. The most prominent rate of growth was recorded in 2022 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, technical textiles imports contracted significantly to $X in 2023. Overall, imports showed a sharp decrease. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

China (X tons), Argentina (X tons) and Brazil (X tons) were the main suppliers of technical textiles imports to Venezuela, with a combined X% share of total imports. The United States, Spain, Hong Kong SAR, the United Arab Emirates, Ireland, Italy, the Netherlands, Colombia and Ecuador lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Argentina ($X) and China ($X) were the largest technical textiles suppliers to Venezuela, together comprising X% of total imports. Brazil, Spain, Italy, the United Arab Emirates, the Netherlands, Hong Kong SAR, Colombia, Ireland and Ecuador lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average technical textiles import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price recorded a perceptible decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, 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 ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform