Venezuela: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Venezuela

The Venezuelan cold-rolled steel products market shrank to $X in 2022, remaining stable against the previous year. In general, consumption, however, showed a mild reduction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cold-Rolled Steel Products Production in Venezuela

In value terms, cold-rolled steel products production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a mild shrinkage. The growth pace was the most rapid in 2013 with an increase of 4.5%. Cold-rolled steel products production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Cold-Rolled Steel Products Exports

Exports from Venezuela

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Venezuela declined slightly to X tons, shrinking by -2% against the previous year. In general, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 2.3%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cold-rolled steel products exports fell slightly to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 6.7% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for cold-rolled steel products exports from Venezuela, accounting for a 69% share of total exports. Moreover, cold-rolled steel products exports to Colombia exceeded the volume sent to the second major destination, Costa Rica (X tons), fivefold. The Dominican Republic (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia amounted to -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-0.1% per year) and the Dominican Republic (-10.0% per year).

In value terms, Colombia ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Venezuela, comprising 82% of total exports. The second position in the ranking was held by Ecuador ($X), with a 13% share of total exports. It was followed by Peru, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-10.6% per year) and Peru (-17.9% per year).

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the export price recorded a mild reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 5%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Costa Rica ($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 Ecuador (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Venezuela

In 2022, overseas purchases of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 26% to X tons, rising for the third year in a row after five years of decline. Overall, imports, however, saw a abrupt downturn. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports soared to $X in 2022. In general, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X tons), China (X tons) and Brazil (X tons) were the main suppliers of cold-rolled steel products imports to Venezuela, with a combined 86% share of total imports. Panama, the United States and South Africa lagged somewhat behind, together comprising a further 7.8%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +5.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Colombia ($X) and Panama ($X) were the largest cold-rolled steel products suppliers to Venezuela, with a combined 72% share of total imports.

Colombia, with a CAGR of +2.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, with an increase of 14% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +130.1% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 20% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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