Venezuela: Base Metal Padlock Market 2025

Base Metal Padlock Market Size in Venezuela

The Venezuelan base metal padlock market declined to $X in 2022, reducing by -10.2% against the previous year. Overall, consumption recorded a perceptible slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Base Metal Padlock Production in Venezuela

In value terms, base metal padlock production reduced to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 103% against the previous year. Base metal padlock production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Base Metal Padlock Exports

Exports from Venezuela

In 2022, the amount of base metal padlocks exported from Venezuela contracted to X tons, with a decrease of -6.4% compared with 2021. Overall, exports, however, posted resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 838%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, base metal padlock exports declined markedly to $X in 2022. In general, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of 811% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons) and the United States (X tons) were the main destinations of base metal padlock exports from Venezuela.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +42.7%).

In value terms, the largest markets for base metal padlock exported from Venezuela were the Dominican Republic ($X) and the United States ($X).

The United States, with a CAGR of +39.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average base metal padlock export price amounted to $X per ton, which is down by -14.9% against the previous year. Overall, the export price recorded a perceptible downturn. The pace of growth appeared the most rapid in 2021 when the average export price increased by 47% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Dominican Republic amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+25.9%), while the prices for the other major destinations experienced a decline.

Base Metal Padlock Imports

Imports into Venezuela

After three years of growth, purchases abroad of base metal padlocks decreased by -21.6% to X tons in 2022. In general, imports showed a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 458% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal padlock imports contracted to $X in 2022. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 266% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main base metal padlock supplier to Venezuela, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -6.7%.

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Venezuela.

From 2012 to 2022, the average annual growth rate of value from China stood at -2.7%.

Import Prices by Country

In 2022, the average base metal padlock import price amounted to $X per ton, with an increase of 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 42% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to +14.1% per year.

Source: IndexBox Platform

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