Venezuela: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Venezuela

The Venezuelan steel and iron articles market reduced sharply to $X in 2022, waning by -17.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a dramatic descent. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Exports of Articles Of Iron Or Steel

Exports from Venezuela

In 2022, approx. X tons of articles of iron or steel were exported from Venezuela; which is down by -34.6% on 2021. In general, exports saw a significant contraction. The growth pace was the most rapid in 2013 with an increase of 292%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel and iron articles exports reduced notably to $X in 2022. Overall, exports showed a dramatic decrease. The growth pace was the most rapid in 2016 when exports increased by 659% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X kg), the United States (X kg) and Panama (X kg) were the main destinations of steel and iron articles exports from Venezuela, together comprising 1.5% of total exports. Sweden, the Dominican Republic, Austria and Chile lagged somewhat behind, together comprising a further 0.4%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +24.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Venezuela were Sweden ($X), the United States ($X) and Argentina ($X), together accounting for 4.6% of total exports. Panama, Chile, the Dominican Republic and Austria lagged somewhat behind, together accounting for a further 0.9%.

Austria, with a CAGR of +29.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, with an increase of 2.6% against the previous year. In general, the export price, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by 158%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Venezuela

Steel and iron articles imports into Venezuela fell to X tons in 2022, with a decrease of -10.5% on the year before. Over the period under review, imports recorded a significant decline. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, steel and iron articles imports contracted markedly to $X in 2022. Overall, imports faced a dramatic decline. The most prominent rate of growth was recorded in 2021 when imports increased by 93%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel and iron articles to Venezuela, accounting for a 85% share of total imports. It was followed by the Netherlands (X tons), with a 2.2% share of total imports. Turkey (X tons) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-9.2% per year) and Turkey (-5.4% per year).

In value terms, China ($X) constituted the largest supplier of articles of iron or steel to Venezuela, comprising 74% of total imports. The second position in the ranking was held by Germany ($X), with a 2.7% share of total imports. It was followed by the Netherlands, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-28.9% per year) and the Netherlands (-9.5% per year).

Import Prices by Country

The average steel and iron articles import price stood at $X per ton in 2022, which is down by -15.2% against the previous year. In general, the import price showed a mild slump. The growth pace was the most rapid in 2020 when the average import price increased by 50%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :