Venezuela: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Venezuela

After two years of growth, the Venezuelan ferro-alloys market decreased by X% to $X in 2022. In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Ferro-Alloys Production in Venezuela

In value terms, ferro-alloys production declined to $X in 2022 estimated in export price. Overall, production saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ferro-Alloys Exports

Exports from Venezuela

Ferro-alloys exports from Venezuela reduced to X tons in 2022, shrinking by X% compared with the year before. Overall, exports saw a significant decrease. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ferro-alloys exports reduced dramatically to $X in 2022. In general, exports continue to indicate a precipitous decrease. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for ferro-alloys exports from Venezuela, accounting for a X% share of total exports. Moreover, ferro-alloys exports to the Netherlands exceeded the volume sent to the second major destination, Brazil (X tons), more than tenfold. The third position in this ranking was held by Mexico (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Mexico (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for ferro-alloys exports from Venezuela, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average ferro-alloys export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Spain ($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 Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Venezuela

In 2022, overseas purchases of ferro-alloys increased by X% to X tons, rising for the third consecutive year after four years of decline. Overall, imports showed notable growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, ferro-alloys imports surged to $X in 2022. Over the period under review, imports showed mild growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked 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 ferro-alloys supplier to Venezuela, with a X% share of total imports. Moreover, ferro-alloys imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Brazil (X% per year).

In value terms, China ($X) constituted the largest supplier of ferro-alloys to Venezuela, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average ferro-alloys import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price saw a mild decline. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Colombia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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