Venezuela: Grinding Machine Market 2024

Grinding Machine Market Size in Venezuela

In 2021, the Venezuelan grinding machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, continues to indicate a sharp reduction. Grinding machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Grinding Machine Exports

Exports from Venezuela

For the third year in a row, Venezuela recorded growth in shipments abroad of machines having individual functions, for mixing, kneading, crushing or grinding, which increased by 44% to X units in 2021. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2017 when exports increased by 377% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, grinding machine exports amounted to $X in 2021. In general, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 198% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for grinding machine exports from Venezuela, with a 90% share of total exports. Moreover, grinding machine exports to Colombia exceeded the volume sent to the second major destination, Panama (X units), more than tenfold. Trinidad and Tobago (X units) ranked third in terms of total exports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-6.6% per year) and Trinidad and Tobago (-13.0% per year).

In value terms, Colombia ($X) remains the key foreign market for machines having individual functions, for mixing, kneading, crushing or grinding exports from Venezuela, comprising 62% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.6% share of total exports. It was followed by Panama, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia totaled -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-19.0% per year) and Panama (-0.1% per year).

Export Prices by Country

In 2021, the average grinding machine export price amounted to $X per unit, reducing by -30.3% against the previous year. In general, the export price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the average export price increased by 862% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Colombia ($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 United States (+16.1%), while the prices for the other major destinations experienced mixed trend patterns.

Grinding Machine Imports

Imports into Venezuela

After two years of decline, purchases abroad of machines having individual functions, for mixing, kneading, crushing or grinding increased by 42% to X units in 2021. Over the period under review, imports, however, faced a sharp decline. The most prominent rate of growth was recorded in 2018 with an increase of 50%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding machine imports skyrocketed to $X in 2021. Overall, imports, however, saw a sharp setback. The pace of growth was the most pronounced in 2018 when imports increased by 145% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Argentina (X units) constituted the largest grinding machine supplier to Venezuela, accounting for a 55% share of total imports. Moreover, grinding machine imports from Argentina exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. France (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+19.1% per year) and France (-13.0% per year).

In value terms, the largest grinding machine suppliers to Venezuela were Argentina ($X), China ($X) and France ($X), together comprising 41% of total imports. These countries were followed by Mexico, Italy, Japan, Germany, the United States, Spain and Portugal, which together accounted for a further 19%.

Among the main suppliers, Mexico, with a CAGR of +35.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average grinding machine import price stood at $X per unit in 2021, rising by 12% against the previous year. Overall, the import price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 63% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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