Angola: Copper Wire Market 2024

Copper Wire Market Size in Angola

The Angolan copper wire market shrank modestly to $X in 2021, with a decrease of -4.9% against the previous year. In general, consumption continues to indicate a slight shrinkage. Copper wire consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Copper Wire Production in Angola

In value terms, copper wire production declined to $X in 2021 estimated in export price. In general, production saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. Copper wire production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Copper Wire Exports

Exports from Angola

In 2021, after three years of decline, there was significant growth in shipments abroad of copper wire, when their volume increased by 16% to X tons. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 1,159%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, copper wire exports skyrocketed to $X in 2021. In general, exports recorded a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 4,671%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for copper wire exports from Angola, accounting for a 56% share of total exports. Moreover, copper wire exports to the United Arab Emirates exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by Democratic Republic of the Congo (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Democratic Republic of the Congo (+357.8% per year).

In value terms, India ($X), the United Arab Emirates ($X) and China ($X) were the largest markets for copper wire exported from Angola worldwide, with a combined 87% share of total exports. Democratic Republic of the Congo lagged somewhat behind, accounting for a further 12%.

Democratic Republic of the Congo, with a CAGR of +334.9%, 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 copper wire export price amounted to $X per ton, surging by 20% against the previous year. Overall, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 279%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($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 South Africa (+130.7%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports

Imports into Angola

In 2021, purchases abroad of copper wire was finally on the rise to reach X tons after two years of decline. In general, imports, however, saw a deep setback. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, copper wire imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt decline. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest copper wire supplier to Angola, accounting for a 58% share of total imports. Moreover, copper wire imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Turkey (X tons), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal stood at -17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.6% per year) and Turkey (+60.8% per year).

In value terms, Portugal ($X) constituted the largest supplier of copper wire to Angola, comprising 62% of total imports. The second position in the ranking was held by Zambia ($X), with a 2.5% share of total imports. It was followed by China, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Zambia (+35.2% per year) and China (-20.4% per year).

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, with an increase of 66% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform