Venezuela: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Venezuela

In 2021, the Venezuelan gravel and crushed stone market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Gravel And Crushed Stone in Venezuela

In value terms, gravel and crushed stone production expanded significantly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced curtailment. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Gravel And Crushed Stone

Exports from Venezuela

In 2021, the amount of gravel and crushed stone exported from Venezuela contracted to X tons, shrinking by -13.5% compared with the previous year's figure. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of 500% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, gravel and crushed stone exports declined slightly to $X in 2021. Overall, exports faced a dramatic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 430% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for gravel and crushed stone exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Colombia totaled +33.7%.

In value terms, Colombia ($X) also remains the key foreign market for gravel and crushed stone exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Colombia totaled +30.8%.

Export Prices by Country

In 2021, the average gravel and crushed stone export price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the export price, however, faced a sharp setback. The pace of growth was the most pronounced in 2013 an increase of 92%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Trinidad and Tobago amounted to +24.0% per year.

Imports of Gravel And Crushed Stone

Imports into Venezuela

In 2021, purchases abroad of gravel and crushed stone increased by 97% to X tons, rising for the third year in a row after four years of decline. Overall, imports saw a resilient increase. The growth pace was the most rapid in 2013 with an increase of 112% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, gravel and crushed stone imports surged to $X in 2021. In general, imports recorded strong growth. The growth pace was the most rapid in 2013 when imports increased by 129%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Colombia (X tons) constituted the largest supplier of gravel and crushed stone to Venezuela, accounting for a 61% share of total imports. Moreover, gravel and crushed stone imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Vietnam (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+50.7% per year) and Vietnam (+248.9% per year).

In value terms, Colombia ($X) constituted the largest supplier of gravel and crushed stone to Venezuela, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the United States, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Colombia stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.3% per year) and the United States (+19.5% per year).

Import Prices by Country

The average gravel and crushed stone import price stood at $X per ton in 2021, falling by -10.8% against the previous year. Overall, the import price showed a deep reduction. The pace of growth appeared the most rapid in 2015 an increase of 35% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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