Venezuela: Needle Roller Bearing Market 2025

Needle Roller Bearing Market Size in Venezuela

After two years of growth, the Venezuelan needle roller bearing market decreased by -55.4% to $X in 2021. In general, consumption showed a precipitous contraction. Needle roller bearing consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from Venezuela

In 2021, overseas shipments of needle roller bearings decreased by -46.2% to X kg, falling for the third year in a row after seven years of growth. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 127% against the previous year. As a result, the exports reached the peak of X kg. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, needle roller bearing exports contracted sharply to $X in 2021. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 92% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X kg) was the main destination for needle roller bearing exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia totaled +11.3%.

In value terms, Colombia ($X) also remains the key foreign market for needle roller bearing exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +11.3%.

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, reducing by -11% against the previous year. Over the period under review, the export price, however, recorded a modest increase. The most prominent rate of growth was recorded in 2020 an increase of 74%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Colombia amounted to +0.1% per year.

Needle Roller Bearing Imports

Imports into Venezuela

After three years of growth, overseas purchases of needle roller bearings decreased by -50.5% to X tons in 2021. Over the period under review, imports recorded a sharp reduction. The growth pace was the most rapid in 2019 with an increase of 169%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, needle roller bearing imports contracted markedly to $X in 2021. Overall, imports faced a dramatic curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 91%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), China (X tons) and Italy (X kg) were the main suppliers of needle roller bearing imports to Venezuela, together comprising 70% of total imports.

From 2012 to 2021, the biggest increases were in Sweden (with a CAGR of -0.4%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X) constituted the largest supplier of needle roller bearing to Venezuela, comprising 51% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-9.6% per year) and the United States (-43.4% per year).

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, which is down by -16% against the previous year. Over the period under review, the import price, however, continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 77% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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