Angola: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Angola

In 2022, the Angolan cranks and crankshafts market increased by 2.2% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Exports

Exports from Angola

In 2022, overseas shipments of cranks and crankshafts increased by 5.8% to X tons, rising for the third year in a row after three years of decline. Overall, exports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2015 with an increase of 5,608%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports soared to $X in 2022. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2015 with an increase of 7,917%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Namibia (X tons) was the main destination for cranks and crankshafts exports from Angola, with a 58% share of total exports. Moreover, cranks and crankshafts exports to Namibia exceeded the volume sent to the second major destination, China (X kg), fourfold. The third position in this ranking was taken by Portugal (X kg), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Namibia totaled +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+40.8% per year) and Portugal (+38.1% per year).

In value terms, Namibia ($X), France ($X) and China ($X) were the largest markets for cranks and crankshafts exported from Angola worldwide, together accounting for 55% of total exports.

Namibia, with a CAGR of +41.1%, saw 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

The average cranks and crankshafts export price stood at $X per ton in 2022, rising by 19% against the previous year. Over the period under review, the export price, however, showed a perceptible downturn. The growth pace was the most rapid in 2014 an increase of 104% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+707.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Angola

In 2022, supplies from abroad of cranks and crankshafts was finally on the rise to reach X tons after two years of decline. Overall, imports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 106%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, cranks and crankshafts imports contracted remarkably to $X in 2022. In general, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 105% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cranks and crankshafts to Angola, with a 57% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.8% per year) and the United States (-14.3% per year).

In value terms, China ($X) constituted the largest supplier of cranks and crankshafts to Angola, comprising 33% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Germany, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.5% per year) and Germany (-6.1% per year).

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, declining by -39.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 an increase of 54% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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