Venezuela: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Venezuela

The Venezuelan steel plaited band market skyrocketed to $X in 2022, increasing by 151% 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, faced a precipitous decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Steel Plaited Band Exports

Exports from Venezuela

In 2022, overseas shipments of iron or steel plaited bands and slings were finally on the rise to reach X kg after two years of decline. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 226% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, steel plaited band exports shrank modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 35%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X kg) was the main destination for steel plaited band exports from Venezuela, with a 41% share of total exports. Moreover, steel plaited band exports to Colombia exceeded the volume sent to the second major destination, Saint Vincent and the Grenadines (X kg), twofold. The United States (X kg) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia stood at -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Vincent and the Grenadines (+48.5% per year) and the United States (-15.3% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Venezuela, comprising 79% of total exports. The second position in the ranking was held by Panama ($X), with a 9.8% share of total exports. It was followed by the Dominican Republic, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-10.9% per year) and the Dominican Republic (-0.1% per year).

Export Prices by Country

The average steel plaited band export price stood at $X per ton in 2022, declining by -8.2% against the previous year. Overall, the export price, however, saw a mild increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 42%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Saint Vincent and the Grenadines ($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 the United States (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into Venezuela

Steel plaited band imports into Venezuela soared to X tons in 2022, growing by 218% on the year before. Over the period under review, imports, however, faced a precipitous curtailment. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, steel plaited band imports surged to $X in 2022. In general, imports, however, showed a precipitous contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 149% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Turkey (X tons) and China (X tons) were the main suppliers of steel plaited band imports to Venezuela, together accounting for 31% of total imports. The United States, South Africa, Sweden, Italy, Finland, Belgium, Democratic People's Republic of Korea, Colombia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +30.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of iron or steel plaited bands and slings to Venezuela, comprising 24% of total imports. The second position in the ranking was taken by Turkey ($X), with a 4.5% share of total imports. It was followed by the United States, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.1% per year) and the United States (-42.1% per year).

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, which is down by -27.4% against the previous year. Over the period under review, the import price showed a pronounced setback. The pace of growth was the most pronounced in 2019 an increase of 33% against the previous year. The import price peaked at $X per ton in 2021, and then fell notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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