Angola: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Angola

In 2022, the Angolan non-self-propelled fork-lift truck market increased by 1.3% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Production in Angola

In value terms, non-self-propelled fork-lift truck production dropped modestly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.5% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 83% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Angola

In 2022, non-self-propelled fork-lift truck exports from Angola skyrocketed to X units, jumping by 67% against the year before. Over the period under review, exports, however, continue to indicate a sharp slump. The growth pace was the most rapid in 2016 when exports increased by 342% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2016 when exports increased by 676%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X units) was the main destination for non-self-propelled fork-lift truck exports from Angola, with a 73% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Portugal (X units), sevenfold. Namibia (X units) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-20.6% per year) and Namibia (-25.1% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from Angola, comprising 77% of total exports. The second position in the ranking was taken by Portugal ($X), with a 12% share of total exports. It was followed by Namibia, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to Democratic Republic of the Congo amounted to +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-10.1% per year) and Namibia (-11.4% per year).

Export Prices by Country

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, surging by 17% against the previous year. Overall, the export price saw a significant expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by 166% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per unit), while the average price for exports to Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+70.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Angola

In 2022, the amount of non-self-propelled fork-lift trucks imported into Angola soared to X units, with an increase of 56% on the year before. Over the period under review, imports showed buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 1,016% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck imports reduced to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 417% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-self-propelled fork-lift truck to Angola, with a 63% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), ninefold. The third position in this ranking was taken by Portugal (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+30.1% per year) and Portugal (-10.2% per year).

In value terms, China ($X), Portugal ($X) and South Korea ($X) constituted the largest non-self-propelled fork-lift truck suppliers to Angola, with a combined 61% share of total imports. South Africa, the United Arab Emirates, France, Turkey and the UK lagged somewhat behind, together comprising a further 24%.

Turkey, with a CAGR of +41.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-self-propelled fork-lift truck import price stood at $X per unit in 2022, shrinking by -40% against the previous year. Over the period under review, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 an increase of 49%. Over the period under review, average import prices reached the maximum at $X per unit 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 South Africa ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :