Venezuela: Market for Sanitary Ware And Parts Of Iron Or Steel 2025

Market Size for Sanitary Ware And Parts Of Iron Or Steel in Venezuela

The Venezuelan market for sanitary ware and parts of iron or steel rose modestly to $X in 2021, picking up by 3.9% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Iron or steel sanitary ware consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Production of Sanitary Ware And Parts Of Iron Or Steel in Venezuela

In value terms, iron or steel sanitary ware production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 14%. Iron or steel sanitary ware production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Sanitary Ware And Parts Of Iron Or Steel

Exports from Venezuela

In 2021, shipments abroad of sanitary ware and parts of iron or steel increased by 49% to X kg, rising for the seventh consecutive year after two years of decline. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 85%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, iron or steel sanitary ware exports surged to $X in 2021. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 when exports increased by 55% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Nicaragua (X kg), Panama (X kg) and Peru (X kg) were the main destinations of iron or steel sanitary ware exports from Venezuela, together comprising 85% of total exports. Colombia, Trinidad and Tobago and the Dominican Republic lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +62.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Peru ($X) and Panama ($X) appeared to be the largest markets for iron or steel sanitary ware exported from Venezuela worldwide, together comprising 88% of total exports. Colombia, Trinidad and Tobago and the Dominican Republic lagged somewhat behind, together accounting for a further 12%.

Colombia, with a CAGR of +56.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for sanitary ware and parts of iron or steel amounted to $X per ton, with an increase of 3.7% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 47%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+62.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sanitary Ware And Parts Of Iron Or Steel

Imports into Venezuela

In 2021, purchases abroad of sanitary ware and parts of iron or steel increased by 68% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 151% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, iron or steel sanitary ware imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 147%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest iron or steel sanitary ware supplier to Venezuela, with a 77% share of total imports. Moreover, iron or steel sanitary ware imports from China exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), fivefold. The third position in this ranking was taken by Panama (X tons), with a 1.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+10.0% per year) and Panama (-25.8% per year).

In value terms, China ($X) constituted the largest supplier of sanitary ware and parts of iron or steel to Venezuela, comprising 73% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 5.7% share of total imports. It was followed by Panama, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+11.8% per year) and Panama (-21.1% per year).

Import Prices by Country

The average import price for sanitary ware and parts of iron or steel stood at $X per ton in 2021, with a decrease of -18.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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