Venezuela: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Venezuela

In 2021, the Venezuelan machine-tool for working metal market decreased by -15.6% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a mild shrinkage. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Production of Machine Tools For Working Metal in Venezuela

In value terms, machine-tool for working metal production fell remarkably to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.2% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 62% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Exports of Machine Tools For Working Metal

Exports from Venezuela

In 2021, the amount of machine tools for working metal exported from Venezuela skyrocketed to X units, increasing by 102% on the previous year. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 5,907% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 4,060% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), Spain (X units) and Costa Rica (X units) were the main destinations of machine-tool for working metal exports from Venezuela, together accounting for 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +28.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for machine tools for working metal exports from Venezuela, comprising 35% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 9.5% share of total exports. It was followed by the Dominican Republic, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+27.8% per year) and the Dominican Republic (-31.9% per year).

Export Prices by Country

In 2021, the average machine-tool for working metal export price amounted to $X per unit, growing by 165% against the previous year. Over the period under review, the export price posted a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Venezuela

In 2021, supplies from abroad of machine tools for working metal increased by 1% to X units, rising for the second consecutive year after seven years of decline. Overall, imports, however, faced a sharp descent. The pace of growth appeared the most rapid in 2020 when imports increased by 51% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports contracted to $X in 2021. Over the period under review, imports, however, showed a precipitous descent. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), Poland (X units) and the UK (X units) were the main suppliers of machine-tool for working metal imports to Venezuela, together comprising 87% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of -2.0%), while imports for the other leaders experienced a decline.

In value terms, Germany ($X) constituted the largest supplier of machine tools for working metal to Venezuela, comprising 63% of total imports. The second position in the ranking was taken by the UK ($X), with an 8.4% share of total imports. It was followed by Japan, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-34.5% per year) and Japan (-33.2% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, waning by -6.5% against the previous year. Overall, the import price, however, showed mild growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 90%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+5,962.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :