Price for Wadding; Other Articles Thereof, of Cotton in Venezuela - 2022

Price for Wadding; Other Articles Thereof, of Cotton in Venezuela (CIF) - 2022

In 2022, the average import price for wadding; other articles thereof, of cotta amounted to $3,532 per ton, declining by -12.7% against the previous year. In general, the import price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2014 when the average import price increased by 10%. Over the period under review, average import prices reached the maximum at $6,245 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($11,163 per ton), while the price for Turkey ($1,908 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Wadding; Other Articles Thereof, of Cotton in Venezuela (FOB) - 2022

The average export price for wadding; other articles thereof, of cotta stood at $4,038 per ton in 2022, increasing by 26% against the previous year. In general, the export price, however, faced a abrupt downturn. Over the period under review, the average export prices attained the peak figure at $12,852 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Guyana.

From 2012 to 2022, the rate of growth in terms of prices for Guyana amounted to +26.1% per year.

Imports of Wadding; Other Articles Thereof, of Cotton in Venezuela

In 2022, the amount of wadding; other articles thereof, of cotta imported into Venezuela surged to 266 tons, rising by 81% compared with the previous year. In general, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of wadding; other articles thereof, of cotta skyrocketed to $938K in 2022. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2020 when imports increased by 76%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Import of Wadding; Other Articles Thereof, of Cotton in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	95.0	526	267	447	67.6%
Turkey	60.8	27.8	111	237	57.4%
Panama	157	160	161	209	10.0%
Italy	62.0	42.5	28.7	18.6	-33.1%
United States	41.1	28.8	19.9	17.8	-24.3%
Pakistan	25.9	N/A	N/A	N/A	0%
Others	8.9	6.5	7.1	8.2	-2.7%
Total	451	792	595	938	27.6%

Top Suppliers of Wadding; Other Articles Thereof, of Cotton to Venezuela in 2022:

Turkey (124.4 tons)
China (100.9 tons)
Panama (31.9 tons)
United States (4.0 tons)
Italy (2.9 tons)

Exports of Wadding; Other Articles Thereof, of Cotton in Venezuela

For the third year in a row, Venezuela recorded growth in overseas shipments of wadding; other articles thereof, of cotta, which increased by 5.1% to 104 kg in 2022. The total export volume increased at an average annual rate of +4.1% from 2020 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of wadding; other articles thereof, of cotta surged to $420 in 2022. Over the period under review, total exports indicated a significant increase from 2020 to 2022: its value increased at an average annual rate of +23.4% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.