Venezuela: Bearing Market 2024

Bearing Market Size in Venezuela

The Venezuelan bearing market declined sharply to $X in 2022, falling by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a dramatic decrease. The pace of growth appeared the most rapid in 2018 when the market value decreased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bearing Exports

Exports from Venezuela

Bearing exports from Venezuela reduced markedly to X tons in 2022, falling by X% on 2021. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bearing exports dropped rapidly to $X in 2022. Overall, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of X% 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 lower figure.

Exports by Country

Ukraine (X kg) was the main destination for bearing exports from Venezuela, with a X% share of total exports. Moreover, bearing exports to Ukraine exceeded the volume sent to the second major destination, Mozambique (X kg), twofold. New Zealand (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (X% per year) and New Zealand (X% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for ball and roller bearings exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Ukraine, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Ukraine (X% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into Venezuela

In 2022, the amount of ball and roller bearings imported into Venezuela dropped rapidly to X tons, reducing by X% on 2021 figures. Overall, imports saw a sharp reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, bearing imports fell rapidly to $X in 2022. Over the period under review, imports continue to indicate a sharp decline. The smallest decline of X% was in 2018. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest bearing supplier to Venezuela, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports. Spain (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Spain (X% per year).

In value terms, China ($X) constituted the largest supplier of ball and roller bearings to Venezuela, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bearing import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :