Venezuela: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Venezuela

In 2022, the Venezuelan market for tyres for agriculture, forestry, construction, industry and other off the road vehicles was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a dramatic setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Venezuela

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Venezuela amounted to X units, remaining relatively unchanged against the previous year's figure. Over the period under review, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X in 2022. In general, exports continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2016 when exports increased by 74%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Sri Lanka (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Venezuela, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sri Lanka amounted to +84.4%.

In value terms, Sri Lanka ($X) also remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Sri Lanka totaled +75.9%.

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, remaining stable against the previous year. Overall, the export price, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2019 an increase of 54% against the previous year. The export price peaked at $X per unit 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 Sri Lanka.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to +34.2% per year.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Venezuela

In 2022, after three years of decline, there was significant growth in overseas purchases of tyres for agriculture, forestry, construction, industry and other off the road vehicles, when their volume increased by 59% to X units. Over the period under review, imports, however, saw a precipitous shrinkage. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022. In general, imports, however, recorded a sharp curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 64% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Panama (X units), Brazil (X units) and China (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Venezuela, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of -12.8%), while purchases for the other leaders experienced a decline.

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Venezuela were Panama ($X), Brazil ($X) and China ($X), together accounting for 88% of total imports.

Panama, with a CAGR of -17.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, waning by -2.8% against the previous year. Overall, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 52%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+71.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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