Venezuela has been preventing its domestic market from exporting steel to other countries, news reports said this week.
The country’s export association (Avex) sees the government’s move as a worrying factor.
In the last months, Venezuela has seen a recovery on exports from private companies, reports said, but government measures, such as the prohibition to export steel, iron and other products, can slow down Venezuelan sales.
According to Avex, the export steel market, among other segments, has been contributing to the growth of the country. About 50 percent of Venezuelan exports include steel, iron and aluminum. Major destinations are the European Union, Brazil and Central America.