Venezuela: Stranded Wire Market 2024

Stranded Wire Market Size in Venezuela

The Venezuelan stranded wire market contracted modestly to $X in 2021, declining by -3.4% against the previous year. Over the period under review, consumption recorded a pronounced reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Stranded Wire Production in Venezuela

In value terms, stranded wire production shrank to $X in 2021 estimated in export price. In general, production saw a perceptible reduction. The growth pace was the most rapid in 2013 when the production volume increased by 23% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Stranded Wire Exports

Exports from Venezuela

In 2021, overseas shipments of stranded wire, ropes and cables increased by 97% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a sharp reduction. The pace of growth appeared the most rapid in 2015 with an increase of 106% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, stranded wire exports surged to $X in 2021. Overall, exports, however, recorded a sharp decrease. The pace of growth was the most pronounced in 2015 when exports increased by 161%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Chile (X tons) and Colombia (X tons) were the main destinations of stranded wire exports from Venezuela, with a combined 84% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +25.3%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for stranded wire, ropes and cables exports from Venezuela, comprising 41% of total exports. The second position in the ranking was held by Colombia ($X), with a 20% share of total exports. It was followed by Chile, with a 20% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-29.9% per year) and Chile (-23.6% per year).

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2021, growing by 4.9% against the previous year. Overall, the export price, however, saw a noticeable descent. The growth pace was the most rapid in 2015 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Paraguay ($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 Cuba (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into Venezuela

In 2021, overseas purchases of stranded wire, ropes and cables were finally on the rise to reach X tons after eight years of decline. Overall, imports, however, recorded a dramatic contraction. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, stranded wire imports soared to $X in 2021. Over the period under review, imports, however, faced a sharp reduction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Peru (X tons) constituted the largest stranded wire supplier to Venezuela, accounting for a 41% share of total imports. Moreover, stranded wire imports from Peru exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Peru amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.7% per year) and Brazil (-38.2% per year).

In value terms, Peru ($X) constituted the largest supplier of stranded wire, ropes and cables to Venezuela, comprising 65% of total imports. The second position in the ranking was held by Brazil ($X), with a 5.3% share of total imports. It was followed by China, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-41.6% per year) and China (-27.9% per year).

Import Prices by Country

The average stranded wire import price stood at $X per ton in 2021, rising by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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