Angola: Tractor Market 2024

Tractor Market Size in Angola

The Angolan tractor market fell to $X in 2022, declining by -8.4% against the previous year. Overall, consumption, however, showed a noticeable expansion. Tractor consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tractor Production in Angola

In value terms, tractor production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 106% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tractor Exports

Exports from Angola

In 2022, approx. X units of tractors were exported from Angola; reducing by -40% on 2021. Overall, exports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2015 when exports increased by 696%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports stood at $X in 2022. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 107% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Mozambique (X units), Portugal (X units) and Democratic Republic of the Congo (X units) were the main destinations of tractor exports from Angola, together accounting for 33% of total exports. Moreover, tractor exports in Mozambique exceeded the figures recorded by the second-largest exporter, Portugal, twofold.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +9.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tractor exported from Angola were Mozambique ($X), Democratic Republic of the Congo ($X) and Portugal ($X), with a combined 32% share of total exports. These countries were followed by Namibia, which accounted for a further 4.5%.

In terms of the main countries of destination, Namibia, with a CAGR of +10.0%, recorded the highest growth rate of 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 tractor export price stood at $X per unit in 2022, increasing by 67% against the previous year. Overall, the export price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2017 when the average export price increased by 141%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Portugal ($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 Cuba (+23.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Angola

In 2022, tractor imports into Angola contracted markedly to X units, which is down by -37.6% against 2021 figures. Overall, imports faced a deep reduction. The growth pace was the most rapid in 2019 with an increase of 372%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, tractor imports declined markedly to $X in 2022. Over the period under review, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 160%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest tractor supplier to Angola, accounting for a 16% share of total imports. Moreover, tractor imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by Brazil (X units), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.1% per year) and Brazil (+3.1% per year).

In value terms, China ($X) constituted the largest supplier of tractors to Angola, comprising 17% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 4.3% share of total imports. It was followed by Sweden, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+14.9% per year) and Sweden (-30.2% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, which is down by -5.3% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the average import price increased by 170%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 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 Sweden ($X per unit), while the price for Namibia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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