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The Q410 BMI Venezuela Retail Report forecasts that the country’s retail sales will grow by an average of 33.7% a year in local currency terms between 2010 and 2014, from VEF208.46bn (US$97.20bn) to VEF676.80bn (US$315.58bn). Although hyperinflation and the country’s first currency devaluation since 2005 make the outlook less certain, BMI expects an expanding population, rising disposable income and easier access to consumer credit to have positive effects on Venezuela’s retail sales over the long term. Venezuela’s nominal GDP is predicted to be US$371.70bn in 2010, with 2009’s decline of 1.8% expected to worsen to a contraction of 3.8% in 2010 as the country continues to suffer the effects of a prolonged economic slowdown. Average annual GDP growth of just 1.5% is predicted by BMI between 2010 and 2014. With the population increasing from an expected 28.8mn in 2010 to a forecast 30.6mn by 2014, consumer spending per capita is forecast to increase from US$4,843 in 2010 to US$6,874 by 2014. Positive economic indicators include increasing urbanisation, with more than 88% of the population classified by the UN as urban in 2005. By 2015, the urban population is forecast to have exceeded 95%. In 2005, 63.8% of the Venezuelan population was described by the UN as economically active, with 37.8% in the 20-44 age range important to retail sales. By 2015, the proportion in the 20-44 age range is predicted to be 38.5% and 65.5% of the population is expected to be economically active. In terms of retail sub-sectors, over the counter (OTC) pharmaceutical sales are forecast by BMI to grow from US$0.41bn in 2010 to US$0.56bn by 2014, up by more than 37%, while automotive sales are predicted to increase by nearly 73% following a severe slump in 2009, from US$0.38bn in 2010 to US$0.66bn by 2014. Consumer electronic products sales are expected to growth by 26%, from US$3.08bn in 2010 to US$3.89bn by 2014.
Retail sales for our Latin American universe in 2010 are expected to reach US$1,166bn, based on varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, is predicted to be US$2,590bn. Mexico and Brazil together are expected to account for an estimated 74.3% of regional retail sales in 2010, with those two countries plus Venezuela forecast to account for 84.6% of all retail sales in the region by 2014. For Venezuela, its predicted 2010 market share of 8.3% is expected to rise to 17.3% by 2014.
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Browse All Business Monitor International Market Research Reports
The Q410 BMI Venezuela Retail Report forecasts that the country’s retail sales will grow by an average of 33.7% a year in local currency terms between 2010 and 2014, from VEF208.46bn (US$97.20bn) to VEF676.80bn (US$315.58bn). Although hyperinflation and the country’s first currency devaluation since 2005 make the outlook less certain, BMI expects an expanding population, rising disposable income and easier access to consumer credit to have positive effects on Venezuela’s retail sales over the long term. Venezuela’s nominal GDP is predicted to be US$371.70bn in 2010, with 2009’s decline of 1.8% expected to worsen to a contraction of 3.8% in 2010 as the country continues to suffer the effects of a prolonged economic slowdown. Average annual GDP growth of just 1.5% is predicted by BMI between 2010 and 2014. With the population increasing from an expected 28.8mn in 2010 to a forecast 30.6mn by 2014, consumer spending per capita is forecast to increase from US$4,843 in 2010 to US$6,874 by 2014. Positive economic indicators include increasing urbanisation, with more than 88% of the population classified by the UN as urban in 2005. By 2015, the urban population is forecast to have exceeded 95%. In 2005, 63.8% of the Venezuelan population was described by the UN as economically active, with 37.8% in the 20-44 age range important to retail sales. By 2015, the proportion in the 20-44 age range is predicted to be 38.5% and 65.5% of the population is expected to be economically active. In terms of retail sub-sectors, over the counter (OTC) pharmaceutical sales are forecast by BMI to grow from US$0.41bn in 2010 to US$0.56bn by 2014, up by more than 37%, while automotive sales are predicted to increase by nearly 73% following a severe slump in 2009, from US$0.38bn in 2010 to US$0.66bn by 2014. Consumer electronic products sales are expected to growth by 26%, from US$3.08bn in 2010 to US$3.89bn by 2014.
Retail sales for our Latin American universe in 2010 are expected to reach US$1,166bn, based on varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, is predicted to be US$2,590bn. Mexico and Brazil together are expected to account for an estimated 74.3% of regional retail sales in 2010, with those two countries plus Venezuela forecast to account for 84.6% of all retail sales in the region by 2014. For Venezuela, its predicted 2010 market share of 8.3% is expected to rise to 17.3% by 2014.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
