Venezuela: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Venezuela

The Venezuelan flywheels and pulleys market surged to $X in 2021, increasing by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a dramatic curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Flywheels And Pulleys Exports

Exports from Venezuela

In 2021, overseas shipments of flywheels and pulleys increased by 379% to X kg, rising for the second year in a row after two years of decline. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,183% against the previous year. As a result, the exports attained the peak of X kg. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, flywheels and pulleys exports soared to $X in 2021. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,683% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X kg), Costa Rica (X kg) and Chile (X kg) were the main destinations of flywheels and pulleys exports from Venezuela, with a combined 69% share of total exports. Peru, Indonesia, Colombia and Panama lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +86.1%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Chile ($X) constituted the largest markets for flywheels and pulleys exported from Venezuela worldwide, with a combined 79% share of total exports. Costa Rica, Indonesia, Panama and Colombia lagged somewhat behind, together comprising a further 9.4%.

Among the main countries of destination, Indonesia, with a CAGR of +71.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2021, with a decrease of -25.2% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 120% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Venezuela

Flywheels and pulleys imports into Venezuela skyrocketed to X tons in 2021, growing by 41% on 2020 figures. Overall, imports, however, saw a sharp descent. The most prominent rate of growth was recorded in 2019 when imports increased by 230%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, flywheels and pulleys imports skyrocketed to $X in 2021. In general, imports, however, saw a precipitous descent. The pace of growth appeared the most rapid in 2019 with an increase of 122%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest flywheels and pulleys supplier to Venezuela, accounting for a 28% share of total imports. Moreover, flywheels and pulleys imports from China exceeded the figures recorded by the second-largest supplier, Democratic People's Republic of Korea (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Democratic People's Republic of Korea (-3.9% per year) and Hong Kong SAR (-20.3% per year).

In value terms, the largest flywheels and pulleys suppliers to Venezuela were Argentina ($X), Democratic People's Republic of Korea ($X) and France ($X), with a combined 42% share of total imports. These countries were followed by China, South Africa, Brazil, Hong Kong SAR, the United States, Panama, Taiwan (Chinese), Portugal, Colombia and Sweden, which together accounted for a further 31%.

South Africa, with a CAGR of +22.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average flywheels and pulleys import price amounted to $X per ton, with an increase of 8.5% against the previous year. Overall, the import price, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 21%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+20.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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