Venezuela: Electronic Chip Market 2024

Electronic Chip Market Size in Venezuela

The Venezuelan electronic chip market stood at $X in 2023, growing by X% against the previous year. Overall, consumption, however, continues to indicate a slight decrease. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Electronic Chip Production in Venezuela

In value terms, electronic chip production rose to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Electronic Chip Exports

Exports from Venezuela

In 2023, approx. X units of electronic chips were exported from Venezuela; growing by X% compared with 2022. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2023, the growth of the exports remained at a lower figure.

In value terms, electronic chip exports skyrocketed to $X in 2023. Over the period under review, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

Poland (X units) was the main destination for electronic chip exports from Venezuela, accounting for a X% share of total exports. Moreover, electronic chip exports to Poland exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. Panama (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Poland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Panama (X% per year).

In value terms, Poland ($X), the Netherlands ($X) and Panama ($X) constituted the largest markets for electronic chip exported from Venezuela worldwide, together accounting for X% of total exports.

Poland, with a CAGR of X%, 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 mixed trend patterns.

Export Prices by Country

In 2023, the average electronic chip export price amounted to $X per unit, falling by X% against the previous year. In general, the export price showed a deep downturn. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Venezuela

In 2023, purchases abroad of electronic chips was finally on the rise to reach X units after two years of decline. In general, imports, however, faced a significant decrease. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, electronic chip imports soared to $X in 2023. Over the period under review, imports, however, recorded a dramatic decline. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the United States (X units) constituted the largest electronic chip supplier to Venezuela, accounting for a X% share of total imports. Moreover, electronic chip imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

In value terms, the United States ($X) constituted the largest supplier of electronic chips to Venezuela, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Portugal, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Portugal (X% per year).

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2023, dropping by X% against the previous year. Overall, the import price, however, recorded a tangible expansion. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform