Angola: Nails And Tacks Market 2024

Nails And Tacks Market Size in Angola

The Angolan nails and tacks market rose remarkably to $X in 2022, growing by 13% 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). In general, consumption, however, showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Nails And Tacks Exports

Exports from Angola

In 2022, shipments abroad of nails, tacks, drawing pins, corrugated nails, staples increased by 7.4% to X kg for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 235% against the previous year. The exports peaked at X kg in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, nails and tacks exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2019 when exports increased by 399% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X kg) was the main destination for nails and tacks exports from Angola, accounting for a 59% share of total exports. Moreover, nails and tacks exports to South Africa exceeded the volume sent to the second major destination, Portugal (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to South Africa totaled +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-17.8% per year) and the United States (0.0% per year).

In value terms, South Africa ($X) emerged as the key foreign market for nails, tacks, drawing pins, corrugated nails, staples exports from Angola, comprising 70% of total exports. The second position in the ranking was held by Portugal ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa amounted to +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-25.8% per year) and the United States (-1.5% per year).

Export Prices by Country

In 2022, the average nails and tacks export price amounted to $X per ton, picking up by 10% against the previous year. In general, the export price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2015 an increase of 111%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Portugal ($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 Democratic Republic of the Congo (+187.5%), while the prices for the other major destinations experienced mixed trend patterns.

Nails And Tacks Imports

Imports into Angola

Nails and tacks imports into Angola surged to X tons in 2022, rising by 34% against 2021 figures. In general, imports, however, showed a pronounced setback. The growth pace was the most rapid in 2018 when imports increased by 48%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, nails and tacks imports reduced to $X in 2022. Overall, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 48%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest nails and tacks supplier to Angola, with a 77% share of total imports. Moreover, nails and tacks imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), ninefold. Turkey (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-17.5% per year) and Turkey (+8.6% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, drawing pins, corrugated nails, staples to Angola, comprising 54% of total imports. The second position in the ranking was held by Portugal ($X), with a 24% share of total imports. It was followed by Turkey, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-16.4% per year) and Turkey (+9.5% per year).

Import Prices by Country

The average nails and tacks import price stood at $X per ton in 2022, dropping by -31% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 35% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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