Venezuela: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Venezuela

The Venezuelan interchangeable tool market dropped significantly 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). In general, consumption continues to indicate a precipitous decrease. Interchangeable tool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Interchangeable Tool Exports

Exports from Venezuela

After three years of decline, overseas shipments of interchangeable tools for hand tools increased by X% to X kg in 2022. In general, exports, however, saw a sharp shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable tool exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a sharp descent. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X kg) was the main destination for interchangeable tool exports from Venezuela, accounting for a X% share of total exports. Moreover, interchangeable tool exports to El Salvador exceeded the volume sent to the second major destination, Chile (X kg), twofold.

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

In value terms, El Salvador ($X) remains the key foreign market for interchangeable tools for hand tools exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Paraguay (X% per year).

Export Prices by Country

In 2022, the average interchangeable tool export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Paraguay ($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 Argentina (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Venezuela

In 2022, the amount of interchangeable tools for hand tools imported into Venezuela contracted remarkably to X tons, shrinking by X% against 2021 figures. In general, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2019 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, interchangeable tool imports reduced remarkably to $X in 2022. Overall, imports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum 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 supplier of interchangeable tool to Venezuela, accounting for a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Italy (X tons) 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: Germany (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of interchangeable tools for hand tools to Venezuela, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average interchangeable tool import price amounted to $X per ton, reducing by X% against the previous year. Overall, the import price saw a perceptible descent. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China ($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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