Report Update Nov 1, 2024

Venezuela - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Copper Market 2024

Copper Market Size in Venezuela

In 2022, after five years of decline, there was decline in the Venezuelan copper market, when its value decreased by 0% to less than $X. Over the period under review, consumption continues to indicate a sharp descent. The growth pace was the most rapid in 2017 when the market value decreased by -33.7%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Copper Production in Venezuela

In value terms, copper production rose to $X in 2022 estimated in export price. In general, production, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 1,015% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Copper Exports

Exports from Venezuela

For the sixth consecutive year, Venezuela recorded growth in shipments abroad of copper, which increased by 913% to X tons in 2019. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper exports soared to $X in 2019. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for copper exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2019, the average annual growth rate of volume to China stood at +349.9%.

In value terms, China ($X) also remains the key foreign market for copper exports from Venezuela.

From 2012 to 2019, the average annual rate of growth in terms of value to China totaled +229.6%.

Export Prices by Country

In 2019, the average copper export price amounted to $X per ton, which is down by -7.2% against the previous year. Over the period under review, the export price saw a pronounced reduction. The export price peaked at $X per ton in 2016; however, from 2017 to 2019, the export prices stood at a somewhat lower figure.

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

From 2012 to 2019, the rate of growth in terms of prices for China amounted to -26.7% per year.

Copper Imports

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in overseas purchases of copper, when their volume decreased by -31% to X tons. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 164% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, copper imports declined significantly to $X in 2022. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 414% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest copper supplier to Venezuela, with a 48% share of total imports. Moreover, copper imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. Japan (X kg) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at -8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.7% per year) and Japan (+24.3% per year).

In value terms, Italy ($X) constituted the largest supplier of copper to Venezuela, comprising 61% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by the Netherlands, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+35.1% per year) and the Netherlands (-11.7% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, declining by -13.4% against the previous year. In general, the import price, however, continues to indicate a slight increase. The growth pace was the most rapid in 2021 an increase of 95%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper in the world?

The country with the largest volume of copper consumption was Chile, accounting for 25% of total volume. Moreover, copper consumption in Chile exceeded the figures recorded by the second-largest consumer, China, twofold. Peru ranked third in terms of total consumption with an 11% share.

What are the largest producers of copper in the world?

Chile remains the largest copper producing country worldwide, accounting for 27% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru, twofold. The third position in this ranking was occupied by China, with an 8% share.

What are the leading suppliers of copper to Venezuela?

In value terms, Italy constituted the largest supplier of copper to Venezuela.

What is the average import price for copper in Venezuela?

In 2021, the average copper import price amounted to $8,701 per ton, growing by 3.9% against the previous year.

This report provides an in-depth analysis of the copper market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023