Angola: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Angola

The Angolan steering wheels and columns market reduced modestly to $X in 2022, remaining stable 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). Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +1.2% against 2020 indices. Steering wheels and columns consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Angola

In 2022, approx. X kg of steering wheels, steering columns and steering boxes were exported from Angola; waning by -21.9% compared with 2021. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 16,229%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, steering wheels and columns exports dropped significantly to $X in 2022. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 7,993% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Portugal (X kg) was the main destination for steering wheels and columns exports from Angola, with a 31% share of total exports. Moreover, steering wheels and columns exports to Portugal exceeded the volume sent to the second major destination, France (X kg), threefold. Latvia (X kg) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal amounted to -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1.4% per year) and Latvia (0.0% per year).

In value terms, the largest markets for steering wheels and columns exported from Angola were Portugal ($X), France ($X) and Belgium ($X), together accounting for 18% of total exports. Latvia and Poland lagged somewhat behind, together comprising a further 2.5%.

In terms of the main countries of destination, Latvia, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, with a decrease of -20.1% against the previous year. Overall, the export price saw a pronounced setback. The most prominent rate of growth was recorded in 2021 an increase of 115% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat 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 Belgium ($X per ton), while the average price for exports to Portugal ($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 Sao Tome and Principe (+232.9%), while the prices for the other major destinations experienced a decline.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Angola

In 2022, after two years of decline, there was significant growth in purchases abroad of steering wheels, steering columns and steering boxes, when their volume increased by 8.8% to X tons. Over the period under review, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 100% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, steering wheels and columns imports reduced to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.7% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 78% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main steering wheels and columns supplier to Angola, with a 96% share of total imports. It was followed by Portugal (X tons), with a 1.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.3%.

In value terms, China ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Angola, comprising 86% of total imports. The second position in the ranking was held by Portugal ($X), with a 3.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.7%.

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, with a decrease of -14.2% against the previous year. Overall, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. Over the period under review, average import prices attained the maximum 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 Portugal ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (-0.7%).

Source: IndexBox Platform

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