The Daily Journal.- Venezuela’s private manufacturing industry recorded a year-over-year growth of 9.9% in production volume during the first quarter of 2026, according to the results of the latest Industrial Economic Survey (ECI-I26) released by the Venezuelan Confederation of Industrialists (Conindustria).
Conindustria president Tito López highlighted that this progress is the result of the sector’s own efforts to rebuild its capabilities after facing a dramatic decline of more than 92% in added value between 2013 and 2020.
“Recording a 9.9% growth demonstrates that private investment and operations are the country’s economic compass. We have built certainty where there was doubt; now the goal is to align public policies with this momentum so that Venezuela’s full potential can materialize immediately,” the business leader stated on Wednesday during the presentation of the report.
Sectoral Contrasts and Critical Bottlenecks
Despite the overall positive balance, growth has not been uniform across industries. The metals and metal products sector led the expansion with a 53.2% increase, followed by auto parts with 46.1% and the food sector with 15.5%.
On the other hand, sectors such as machinery, electrical equipment, and optics suffered a 20.5% contraction, while textiles and footwear declined by 11.4%.
López explained that while some sectors have managed to capitalize on opportunities, others warn that “macroeconomic distortions are taking a very heavy toll on entire production lines.”
According to industrial leaders, production could reach even higher levels if restrictive factors currently acting as obstacles were resolved. Sixty-eight percent of respondents identified macroeconomic instability as the main challenge, followed by excessive fiscal and parafiscal taxes affecting 66% of companies, and weak domestic demand limiting 64%. Other critical factors include limited access to foreign currency and scarce bank financing, both of which hinder inventory replacement and long-term investment.
Small Industry Under Pressure
The survey reveals a significant gap depending on company size. While large industries grew by 13.5% and medium-sized industries by 4.5%, small industries recorded a 6.2% decline in production.
López emphasized that this disparity requires immediate attention, as small industries are vital for regional employment: “Today, small industry needs more than resilience: it needs fiscal and operational oxygen, as well as financial leverage. An urgent simplification of procedures accompanied by tax relief tailored to its needs is required,” he stated.
