Updated Nov 16, 2022 01:20

Non-Lawn Mower Market in Venezuela

Market Overview
The Venezuelan non-lawn mower market contracted to $ in , reducing by -% 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 continues to indicate a deep setback. Over the period under review, the market attained the peak level at $ in 2011; however, from 2012 to , consumption failed to regain momentum.


Consumption
In , the amount of non-lawn mowers and cutter bars consumed in Venezuela dropped modestly to units, almost unchanged from figures. In general, consumption showed a abrupt decline. Non-lawn mower consumption peaked at units in 2011; however, from 2012 to , consumption remained at a lower figure.

The value of the non-lawn mower market in Venezuela fell to $ in , waning by -% 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 faced a deep setback. Over the period under review, the market reached the peak level at $ in 2011; however, from 2012 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for non-lawn mower in Venezuela, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Non-lawn mower market in Venezuela consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Venezuela remains a net importer of non-lawn mower; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.