Venezuela: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2024

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in Venezuela

For the seventh consecutive year, the Venezuelan market for railway or tramway track construction material of iron or steel recorded decline in sales value, which decreased by -27.2% to $X in 2021. In general, consumption saw a precipitous decrease. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports from Venezuela

For the fourth consecutive year, Venezuela recorded decline in overseas shipments of railway or tramway track construction material of iron or steel, which decreased by -28.2% to X tons in 2021. Overall, exports faced a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 73% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of railway or tramway track construction material of iron or steel shrank to $X in 2021. Over the period under review, exports saw a noticeable setback. The pace of growth appeared the most rapid in 2015 with an increase of 135%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for exports of railway or tramway track construction material of iron or steel from Venezuela, with a 77% share of total exports. Moreover, exports of railway or tramway track construction material of iron or steel to Colombia exceeded the volume sent to the second major destination, the United States (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to -18.4%.

In value terms, the United States ($X) remains the key foreign market for railway or tramway track construction material of iron or steel exports from Venezuela, comprising 91% of total exports. The second position in the ranking was held by Colombia ($X), with an 8.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +29.3%.

Export Prices by Country

In 2021, the average export price for railway or tramway track construction material of iron or steel amounted to $X per ton, jumping by 23% against the previous year. Overall, the export price saw resilient growth. The pace of growth was the most pronounced in 2016 an increase of 204%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.7%).

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports into Venezuela

In 2021, the amount of railway or tramway track construction material of iron or steel imported into Venezuela fell rapidly to X tons, dropping by -20.9% against the year before. In general, imports continue to indicate a sharp shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 39%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of railway or tramway track construction material of iron or steel reduced dramatically to $X in 2021. Over the period under review, imports recorded a dramatic shrinkage. The growth pace was the most rapid in 2014 with an increase of 83%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, Canada (X tons) constituted the largest iron and steel railway construction materials supplier to Venezuela, with a 25% share of total imports. Moreover, imports of railway or tramway track construction material of iron or steel from Canada exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-18.0% per year) and the Netherlands (+12.0% per year).

In value terms, France ($X) constituted the largest supplier of railway or tramway track construction material of iron or steel to Venezuela, comprising 50% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Canada, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.2% per year) and Canada (+11.9% per year).

Import Prices by Country

In 2021, the average import price for railway or tramway track construction material of iron or steel amounted to $X per ton, declining by -9.7% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for railway or tramway track construction material of iron or steel decreased by +0.8% against 2015 indices. The pace of growth appeared the most rapid in 2014 an increase of 31%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+38.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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