Venezuela: Base Metal Hook Market 2025

Base Metal Hook Market Size in Venezuela

In 2022, the Venezuelan base metal hook market decreased by -44.7% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a deep reduction. Base metal hook consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Base Metal Hook Exports

Exports from Venezuela

In 2022, overseas shipments of base metal hooks, eyes and eyelets were finally on the rise to reach X kg after two years of decline. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 400%. The exports peaked at X kg in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, base metal hook exports stood at $X in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X kg) was the main destination for base metal hook exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic amounted to +45.3%.

In value terms, the Dominican Republic ($X) also remains the key foreign market for base metal hooks, eyes and eyelets exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic amounted to +68.1%.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, with a decrease of -2.4% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 156%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to +15.7% per year.

Base Metal Hook Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in purchases abroad of base metal hooks, eyes and eyelets, when their volume decreased by -54.2% to X tons. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 396% 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, base metal hook imports contracted notably to $X in 2022. In general, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 when imports increased by 277%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal hook to Venezuela, with a 87% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. Panama (X kg) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+1.9% per year) and Panama (-6.0% per year).

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to Venezuela, comprising 60% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 27% share of total imports. It was followed by Panama, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+12.1% per year) and Panama (+2.2% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2022, increasing by 38% against the previous year. In general, the import price recorded a resilient expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 50% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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