Venezuela: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Venezuela

The Venezuelan market for hand-operated drilling, threading or tapping tools surged to $X in 2022, picking up 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). In general, consumption, however, showed a dramatic downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports from Venezuela

In 2022, overseas shipments of hand-operated drilling, threading or tapping tools decreased by X% to X kg, falling for the fifth year in a row after three years of growth. In general, exports showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of hand-operated drilling, threading or tapping tools expanded significantly to $X in 2022. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X kg) was the main destination for exports of hand-operated drilling, threading or tapping tools from Venezuela, with a X% share of total exports. Moreover, exports of hand-operated drilling, threading or tapping tools to Ecuador exceeded the volume sent to the second major destination, Cuba (X kg), threefold. The third position in this ranking was taken by Panama (X kg), with a X% share.

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

In value terms, Ecuador ($X) remains the key foreign market for hand-operated drilling, threading or tapping tools exports from Venezuela, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Cuba (X% per year).

Export Prices by Country

The average export price for hand-operated drilling, threading or tapping tools stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price showed a mild expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Cuba ($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 Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports into Venezuela

In 2022, the amount of hand-operated drilling, threading or tapping tools imported into Venezuela soared to X tons, rising by X% on 2021 figures. Overall, imports, however, faced a significant decline. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools soared to $X in 2022. Over the period under review, imports, however, saw a dramatic decrease. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest hand-operated drilling, threading or tapping tool supplier to Venezuela, with a X% share of total imports. Moreover, imports of hand-operated drilling, threading or tapping tools from China exceeded the figures recorded by the second-largest supplier, Panama (X kg), sixfold. The United States (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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and the United States (X% per year).

In value terms, Panama ($X), the UK ($X) and China ($X) were the largest hand-operated drilling, threading or tapping tool suppliers to Venezuela, together accounting for X% of total imports.

Among the main suppliers, the UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for hand-operated drilling, threading or tapping tools stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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