Angola: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Angola

In 2022, the Angolan market for tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -11.4% to $X, falling for the fourth consecutive year after three years of growth. In general, consumption saw a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Angola

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Angola soared to X units, growing by 16% against the previous year. Overall, exports recorded a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose slightly to $X in 2022. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 172%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Angola, with a 92% share of total exports. It was followed by Cuba (X units), with a 2.9% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo totaled -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-29.3% per year) and Portugal (+12.2% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Angola, comprising 61% of total exports. The second position in the ranking was taken by Portugal ($X), with an 18% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Democratic Republic of the Congo totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+88.9% per year) and Cuba (-25.2% per year).

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, reducing by -11.8% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 115%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Portugal ($X per unit), while the average price for exports to Cuba ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+167.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Angola

For the fifth year in a row, Angola recorded decline in overseas purchases of tyres for agriculture, forestry, construction, industry and other off the road vehicles, which decreased by -22.4% to X units in 2022. In general, imports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 32%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped modestly to $X in 2022. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 56% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Portugal (X units), China (X units) and Belgium (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Angola, with a combined 72% share of total imports. South Africa, Thailand, the United Arab Emirates, Switzerland, Namibia and Brazil lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of -0.6%), while imports for the other leaders experienced a decline.

In value terms, Portugal ($X), China ($X) and South Africa ($X) constituted the largest agricultural, construction and industrial machinery tyre suppliers to Angola, together comprising 48% of total imports. Belgium, Thailand, Switzerland, Brazil, the United Arab Emirates and Namibia lagged somewhat behind, together accounting for a further 9.2%.

Switzerland, with a CAGR of +3.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, increasing by 29% against the previous year. Overall, the import price saw a prominent expansion. The growth pace was the most rapid in 2016 an increase of 70% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Namibia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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