Venezuela: Market for Tin Ores And Concentrates 2025

Market Size for Tin Ores And Concentrates in Venezuela

In 2022, the Venezuelan tin ores and concentrates market decreased by -1.1% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, saw strong growth. Tin ores and concentrates consumption peaked at $X in 2021, and then dropped slightly in the following year.

Production of Tin Ores And Concentrates in Venezuela

In value terms, tin ores and concentrates production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production saw a slight slump. The most prominent rate of growth was recorded in 2020 with an increase of 10%. Tin ores and concentrates production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Tin Ores And Concentrates

Exports from Venezuela

In 2022, after three years of decline, there was significant growth in overseas shipments of tin ores and concentrateses, when their volume increased by 124% to X kg. Overall, exports, however, saw a slight setback. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, tin ores and concentrates exports expanded significantly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 82% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X kg) was the main destination for tin ores and concentrates exports from Venezuela, accounting for a 85% share of total exports. Moreover, tin ores and concentrates exports to China exceeded the volume sent to the second major destination, Spain (X kg), more than tenfold.

From 2014 to 2022, the average annual growth rate of volume to China amounted to +122.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+90.0% per year) and Brazil (0.0% per year).

In value terms, China ($X) remains the key foreign market for tin ores and concentrateses exports from Venezuela, comprising 86% of total exports. The second position in the ranking was taken by Spain ($X), with a 5.7% share of total exports.

From 2014 to 2022, the average annual growth rate of value to China amounted to +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-58.1% per year) and Brazil (0.0% per year).

Export Prices by Country

In 2022, the average tin ores and concentrates export price amounted to $X per ton, with a decrease of -51.5% against the previous year. Overall, the export price, however, posted a modest expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 197%. As a result, the export price reached the peak level of $X per ton, and then contracted significantly in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-40.5%).

Imports of Tin Ores And Concentrates

Imports into Venezuela

After five years of growth, supplies from abroad of tin ores and concentrateses decreased by -0.2% to X tons in 2022. Overall, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 867% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell modestly in the following year.

In value terms, tin ores and concentrates imports shrank slightly to $X in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 485%. Over the period under review, imports attained the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2020, the United States (X tons) was the main tin ores and concentrates supplier to Venezuela, with a approx. 100% share of total imports.

From 2013 to 2020, the average annual growth rate of volume from the United States amounted to +79.0%.

In value terms, the United States ($X) constituted the largest supplier of tin ores and concentrateses to Venezuela.

From 2013 to 2020, the average annual growth rate of value from the United States amounted to +55.6%.

Import Prices by Country

The average tin ores and concentrates import price stood at $X per ton in 2020, reducing by -39.5% against the previous year. In general, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2016 an increase of 15%. As a result, import price attained the peak level of $X per ton. From 2017 to 2020, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2013 to 2020, the rate of growth in terms of prices for the United States amounted to -13.1% per year.

Source: IndexBox Platform

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