Angola: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Angola

The Angolan conveyor or transmission belt market contracted to $X in 2021, dropping by -10.7% against the previous year. In general, consumption, however, enjoyed perceptible growth. Conveyor or transmission belt consumption peaked at $X in 2020, and then contracted in the following year.

Production of Conveyor Or Transmission Belts Or Belting in Angola

In value terms, conveyor or transmission belt production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 56% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Angola

In 2021, overseas shipments of conveyor or transmission belts or belting were finally on the rise to reach X kg after three years of decline. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2015 with an increase of 788%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt exports soared to $X in 2021. In general, exports continue to indicate notable growth. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X kg) was the main destination for conveyor or transmission belt exports from Angola, accounting for a 79% share of total exports. Moreover, conveyor or transmission belt exports to Belgium exceeded the volume sent to the second major destination, Congo (X kg), more than tenfold. Democratic Republic of the Congo (X kg) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (+6.0% per year) and Democratic Republic of the Congo (+14.9% per year).

In value terms, the largest markets for conveyor or transmission belt exported from Angola were Congo ($X), Belgium ($X) and Portugal ($X), together comprising 51% of total exports. These countries were followed by Democratic Republic of the Congo, the Netherlands, the UK and Namibia, which together accounted for a further 35%.

Namibia, with a CAGR of +45.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, shrinking by -42.6% against the previous year. Overall, the export price faced a dramatic setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 285%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+30.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Angola

In 2021, the amount of conveyor or transmission belts or belting imported into Angola surged to X tons, growing by 20% compared with the year before. Over the period under review, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2017 when imports increased by 153% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports contracted to $X in 2021. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 109%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest conveyor or transmission belt supplier to Angola, with a 45% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-9.9% per year) and South Africa (-7.3% per year).

In value terms, Portugal ($X) constituted the largest supplier of conveyor or transmission belts or belting to Angola, comprising 22% of total imports. The second position in the ranking was held by China ($X), with a 9.1% share of total imports. It was followed by South Africa, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal amounted to -14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.0% per year) and South Africa (-16.1% per year).

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, waning by -22.5% against the previous year. In general, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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