The Venezuelan crane market fell sharply to $X in 2020, down -X% from the previous year. Consumption continued to decline significantly during the period under review. The most significant growth rate occurred in 2013, when the market value increased by X% over the previous year. During the period under review, the market peaked at $X in 2016; however, from 2017 to 2020, consumption was at a lower level.
In value terms, crane production in 2020 plummeted to $X at export prices. Overall, production recorded a marked decline. The fastest growth rate in 2016, an increase of X% year-on-year. As a result, production peaked at X dollars. Production growth remained low from 2017 to 2020.
In 2020, overseas shipments of cranes and mobile cranes increased by X% to X units, the fourth consecutive year of growth after two years of decline. Exports continued to grow significantly during the period under review. The growth rate was most pronounced in 2008, with an X% increase over the previous year. Exports peaked in 2020 and may gradually increase in the near future.
In value terms, crane exports fell significantly to X dollars in 2020. Overall, exports showed significant growth. In 2013, the growth rate was the fastest, with exports increasing by X% year-on-year. During the period under review, exports peaked at $X in 2011; however, from 2012 to 2020, exports have been at lower levels.
Italy (X units) was the main destination for Venezuelan crane exports, accounting for X% of total exports. It was followed by Aruba (X units) with X% of total exports. From 2007 to 2020, the average annual growth rate of shipments to Italy totaled +X%. In value terms, Italy ($X) remains the main foreign market for Venezuelan crane exports, accounting for X% of total exports. In second place is Aruba ($X) with X% of total exports.
From 2007 to 2020, the average annual growth rate of the value to Italy reached +X%.
In 2020, Venezuelan crane imports rapidly contracted to X units, a -X% decrease from 2019. During the period under review, imports faced a sudden drop. The fastest growth rate in 2013, an increase of X% year-on-year. As a result, imports peaked at X units. Import growth failed to regain momentum between 2014 and 2020.
In 2020, crane imports fell to X dollars in value. Overall, imports continued to show a sharp pullback. The most significant growth rate occurred in 2012, with an X% year-on-year increase. Imports peaked at $X in 2014; however, from 2015 to 2020, imports failed to regain momentum.
In 2020, Germany (X units) was the largest crane supplier to Venezuela, accounting for X% of total imports. In addition, the number of cranes imported from Germany was more than double the number recorded by the second largest supplier, Japan (X units). Third in the ranking is Malaysia (X units) with an X% share.
From 2007 to 2020, the average annual growth rate of German exports was -X%. The average annual growth rates of imports for the remaining suppliers are as follows: Japan (+X% per annum) and Malaysia (+X% per annum). Germany ($X) is the largest crane supplier to Venezuela by value, accounting for X% of total imports. In second place is Japan ($X) with X% of total imports. It is followed by Mexico with an X% share.
From 2007 to 2020, the average annual growth in value from Germany totaled -X%. The average annual growth rates of imports for the remaining suppliers are as follows: Japan (+X% per annum) and Mexico (+X% per annum).
In terms of value, Germany is Venezuela's largest supplier of cranes, accounting for 35% of total imports. In second place is Japan, which accounts for 16% of total imports. It is followed by Mexico with an 11% share.
In terms of value, Italy remains the main foreign market for Venezuelan crane exports, accounting for 89% of total exports. In second place is Aruba, which accounted for 1.6% of total exports.
The average export price of cranes in 2020 was $1,422 per unit, a -48% decrease from the previous year. The average import price of cranes in 2020 was US$12,576 per unit, an increase of 6.9% over the previous year.
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