Venezuela: Metal Castor Mounting Market 2025

Metal Castor Mounting Market Size in Venezuela

After two years of growth, the Venezuelan metal castor mounting market decreased by -21.6% to $X in 2022. Over the period under review, consumption saw a abrupt decrease. Metal castor mounting consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Castor Mounting Exports

Exports from Venezuela

In 2022, shipments abroad of castors with mountings of base metal increased by 1,638% to X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 2,130% against the previous year. Over the period under review, the exports reached the maximum at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal castor mounting exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt curtailment. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X kg) was the main destination for metal castor mounting exports from Venezuela, with a 81% share of total exports. Moreover, metal castor mounting exports to Aruba exceeded the volume sent to the second major destination, Panama (X kg), sevenfold. Costa Rica (X kg) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to Aruba stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+3.5% per year) and Costa Rica (+35.6% per year).

In value terms, Aruba ($X) remains the key foreign market for castors with mountings of base metal exports from Venezuela, comprising 69% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 24% share of total exports. It was followed by Panama, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Aruba stood at -15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+36.0% per year) and Panama (-13.5% per year).

Export Prices by Country

In 2022, the average metal castor mounting export price amounted to $X per ton, with an increase of 2% against the previous year. In general, the export price, however, saw a deep setback. The growth pace was the most rapid in 2020 when the average export price increased by 138% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the Dominican Republic ($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 Costa Rica (+0.3%), while the prices for the other major destinations experienced a decline.

Metal Castor Mounting Imports

Imports into Venezuela

In 2022, metal castor mounting imports into Venezuela shrank significantly to X tons, dropping by -20.5% on the previous year. In general, imports saw a precipitous contraction. The pace of growth was the most pronounced in 2021 when imports increased by 56% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal castor mounting imports contracted sharply to $X in 2022. Overall, imports showed a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 135% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) were the main suppliers of metal castor mounting imports to Venezuela, with a combined 91% share of total imports. Panama and Thailand lagged somewhat behind, together comprising a further 4.7%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of -7.2%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of castors with mountings of base metal to Venezuela, comprising 44% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.9% per year) and Thailand (+10.5% per year).

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 56% against the previous year. The import price peaked at $X per ton in 2021, and then shrank slightly in the following year.

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 Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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