Venezuela's production of aluminum and steel in 2014 fell to its lowest levels in three decades, informed the Venezuelan Ministry of Industries in its annual report.

Output at Venezuelan steelmaker Sidor dropped 33.5% from the previous year to reach 1.03 million tons of liquid steel, its lowest level since the mid-1980s, Reuters reported.

Currently, the steelmaker, located in southern Bolívar state, operates at 31% of its installed capacity of 5 million tons a year.

"Financial limitations were caused by low (revenues) resulting from constant labor stoppages that made it difficult to acquire raw material," added the report.

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