Venezuela: Market for Machines For Balancing Mechanical Parts 2022

Market Size for Machines For Balancing Mechanical Parts in Venezuela

The Venezuelan balancing mechanical parts machine market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption continues to indicate a dramatic slump. Balancing mechanical parts machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Venezuela

In 2021, exports of machines for balancing mechanical parts from Venezuela totaled X units, leveling off at 2020 figures. Over the period under review, exports saw a sharp decline. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports rose notably to $X in 2021. Overall, exports continue to indicate a significant curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for balancing mechanical parts machine exports from Venezuela, with a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -X%.

In value terms, the United States ($X) also remains the key foreign market for balancing mechanical parts machine exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -X%.

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, standing approx. at the previous year. In general, the export price, however, showed a deep slump. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -X% per year.

Imports of Machines For Balancing Mechanical Parts

Imports into Venezuela

For the fifth year in a row, Venezuela recorded decline in supplies from abroad of machines for balancing mechanical parts, which decreased by -X% to X units in 2021. In general, imports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Overall, imports faced a sharp decline. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X units) constituted the largest supplier of balancing mechanical parts machine to Venezuela, with a X% share of total imports. Moreover, balancing mechanical parts machine imports from Russia exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was occupied by Panama (X units), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and Panama (-X% per year).

In value terms, Russia ($X) constituted the largest supplier of balancing mechanical parts machine to Venezuela, comprising X% of total imports. The second position in the ranking was occupied by Spain ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-X% per year) and China (-X% per year).

Import Prices by Country

The average balancing mechanical parts machine import price stood at $X per unit in 2021, increasing by X% against the previous year. In general, the import price saw a significant expansion. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Russia ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform