Key Market Indicators
Venezuelan tobacco production is projected to decline to 2,100 metric tons by 2028, down from its current level of approximately 2,800 metric tons in 2023. This represents an annual compound growth rate (CAGR) decrease of 4.5%. Historically, Venezuelan tobacco supply has been on a downward trend, with a year-on-year decline of 3% since 1966. In the global rankings for 2023, Venezuela occupies the 62nd position in tobacco production, having been overtaken by Panama, which also produced around 2,800 metric tons. Leading the global rankings in tobacco production are India, Brazil, and Zimbabwe, holding the second, third, and fourth positions, respectively.
