Venezuela: Market for Iron or Steel Leaf-Springs and Leaves 2025

Market Size for Iron or Steel Leaf-Springs and Leaves in Venezuela

The Venezuelan iron or steel leaf-spring market dropped modestly to $X in 2022, falling by -3.3% against the previous year. Overall, consumption continues to indicate a deep contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Venezuela

In value terms, iron or steel leaf-spring production dropped slightly to $X in 2022 estimated in export price. In general, production showed a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 17%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Venezuela

In 2022, the amount of iron or steel leaf-springs and leaves exported from Venezuela surged to X tons, growing by 33% against 2021. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2018 when exports increased by 162%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel leaf-spring exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 112% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for iron or steel leaf-spring exports from Venezuela, with a 71% share of total exports. Moreover, iron or steel leaf-spring exports to Colombia exceeded the volume sent to the second major destination, the United States (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Colombia amounted to +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+52.8% per year) and Panama (-31.0% per year).

In value terms, Colombia ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Venezuela, comprising 72% of total exports. The second position in the ranking was taken by the United States ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.1% per year) and Panama (-20.1% per year).

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, dropping by -12% against the previous year. Over the period under review, the export price faced a drastic downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 7.7%. Over the period under review, the average export prices attained the peak figure at $X per ton 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the United States ($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 Panama (+15.9%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Venezuela

In 2022, purchases abroad of iron or steel leaf-springs and leaves decreased by -7.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 104% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports amounted to $X in 2022. Over the period under review, imports saw a sharp downturn. The pace of growth was the most pronounced in 2020 with an increase of 107%. 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

In 2022, Colombia (X tons) constituted the largest supplier of iron or steel leaf-spring to Venezuela, accounting for a 73% share of total imports. Moreover, iron or steel leaf-spring imports from Colombia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia amounted to -25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-26.5% per year) and China (-40.6% per year).

In value terms, Colombia ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Venezuela, comprising 87% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.5% share of total imports. It was followed by China, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia totaled -20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-34.5% per year) and China (-38.4% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, surging by 8.4% against the previous year. In general, the import price continues to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 63%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood 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 Colombia ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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