Angola: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in Angola

The Angolan glass rear-view vehicle mirror market fell to $X in 2022, with a decrease of -8.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Angola

In 2022, the amount of glass rear-view mirrors for vehicles exported from Angola skyrocketed to X units, picking up by 50% against the year before. Overall, exports, however, recorded a abrupt decrease. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports soared to $X in 2022. Over the period under review, exports recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 7,212%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for glass rear-view vehicle mirror exports from Angola, accounting for a 1,922% share of total exports. Moreover, glass rear-view vehicle mirror exports to Sweden exceeded the volume sent to the second major destination, Belgium (X units), threefold. The third position in this ranking was taken by Portugal (X units), with a 437% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+20.2% per year) and Portugal (-6.5% per year).

In value terms, Sweden ($X), Belgium ($X) and Democratic Republic of the Congo ($X) constituted the largest markets for glass rear-view vehicle mirror exported from Angola worldwide, with a combined 52% share of total exports.

Sweden, with a CAGR of +64.3%, recorded the highest rates of growth with regard to 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 2022, the average glass rear-view vehicle mirror export price amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 0.9% against the previous year. As a result, the export price reached the peak level of $X per unit, leveling off in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Sweden ($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 Sweden (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Angola

Glass rear-view vehicle mirror imports into Angola fell to X units in 2022, dropping by -7.3% compared with 2021. In general, imports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2018 when imports increased by 48%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, glass rear-view vehicle mirror imports fell to $X in 2022. Overall, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main glass rear-view vehicle mirror supplier to Angola, with a 204% share of total imports. Moreover, glass rear-view vehicle mirror imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X units), threefold. The third position in this ranking was held by the United Arab Emirates (X units), with a 55% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+6.3% per year) and the United Arab Emirates (+3.2% per year).

In value terms, China ($X), Portugal ($X) and Japan ($X) were the largest glass rear-view vehicle mirror suppliers to Angola.

China, with a CAGR of +2.6%, 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 mixed trend patterns.

Import Prices by Country

The average glass rear-view vehicle mirror import price stood at $X per unit in 2022, falling by -4% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 104%. The import price peaked 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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