Venezuela: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Venezuela

The Venezuelan worked wax articles market dropped dramatically to $X in 2022, waning 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). In general, consumption recorded a precipitous contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Worked Wax Articles Exports

Exports from Venezuela

After five years of growth, shipments abroad of worked articles of wax decreased by X% to X units in 2022. In general, exports saw a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked wax articles exports dropped slightly to $X in 2022. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for worked wax articles exports from Venezuela, accounting for a X% share of total exports. Moreover, worked wax articles exports to El Salvador exceeded the volume sent to the second major destination, Ecuador (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to El Salvador stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Trinidad and Tobago (X% per year).

In value terms, Trinidad and Tobago ($X) emerged as the key foreign market for worked articles of wax exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Trinidad and Tobago was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and El Salvador (X% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price posted a noticeable increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 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 Trinidad and Tobago ($X per unit), while the average price for exports to El Salvador ($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 El Salvador (X%).

Worked Wax Articles Imports

Imports into Venezuela

In 2022, approx. X units of worked articles of wax were imported into Venezuela; which is down by X% compared with 2021 figures. Over the period under review, imports recorded a precipitous contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, worked wax articles imports shrank significantly to $X in 2022. In general, imports saw a dramatic decline. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Spain (X units) and the United States (X units) were the main suppliers of worked wax articles imports to Venezuela, with a combined X% share of total imports. Brazil, Panama, Italy, Colombia and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles suppliers to Venezuela were Spain ($X), the United States ($X) and China ($X), together comprising X% of total imports. Brazil, Panama, India, Colombia and Italy lagged somewhat behind, together comprising a further X%.

Brazil, with a CAGR of X%, saw 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 more modest paces of growth.

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, import price indicated a mild expansion 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. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average 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 Panama ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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