Venezuela: Market for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals 2024

Market Size for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Venezuela

In 2022, after three years of growth, there was significant decline in the Venezuelan market for fully or partly automatic electric machines for arc welding of metals, when its value decreased by -11.2% to $X. Over the period under review, consumption recorded a dramatic contraction. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Exports from Venezuela

In 2022, after two years of decline, there was significant decline in shipments abroad of fully or partly automatic electric machines for arc welding of metals, when their volume decreased by -40% to X units. Over the period under review, exports, however, posted a slight expansion. The smallest decline of -20% was in 2015. The exports peaked at X units in 2021, and then dropped markedly in the following year.

In value terms, exports of fully or partly automatic electric machines for arc welding of metals shrank rapidly to $X in 2022. In general, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by 2,441% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for exports of fully or partly automatic electric machines for arc welding of metals from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama stood at +7.2%.

In value terms, Panama ($X) remains the key foreign market for fully or partly automatic electric machines for arc welding of metals exports from Venezuela, comprising 85% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Panama amounted to -1.5%.

Export Prices by Country

In 2022, the average export price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, shrinking by -10.9% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth was the most pronounced in 2016 an increase of 35%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 United States ($X per unit), while the average price for exports to Panama totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.3%).

Imports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Imports into Venezuela

In 2022, purchases abroad of fully or partly automatic electric machines for arc welding of metals decreased by -13% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports faced a significant contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 108%. Over the period under review, imports of hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fully or partly automatic electric machines for arc welding of metals fell to $X in 2022. Over the period under review, imports saw a sharp decline. The most prominent rate of growth was recorded in 2020 when imports increased by 31% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X units) constituted the largest supplier of fully or partly automatic arc welding machine to Venezuela, with a 84% share of total imports. Moreover, imports of fully or partly automatic electric machines for arc welding of metals from Sweden exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. The third position in this ranking was held by the United States (X units), with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden totaled -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-31.0% per year) and the United States (-56.0% per year).

In value terms, Sweden ($X) constituted the largest supplier of fully or partly automatic electric machines for arc welding of metals to Venezuela, comprising 71% of total imports. The second position in the ranking was held by China ($X), with a 5.7% share of total imports. It was followed by the United States, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-29.5% per year) and the United States (-56.4% per year).

Import Prices by Country

In 2022, the average import price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, remaining stable against the previous year. Overall, the import price, however, continues to indicate a noticeable downturn. The growth pace was the most rapid in 2016 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 the United Arab Emirates ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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