Angola: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Angola

In 2022, after two years of decline, there was growth in the Angolan truck and bus tyre market, when its value increased by 3.5% to $X. In general, consumption, however, continues to indicate a deep slump. 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 Buses Or Lorries

Exports from Angola

Truck and bus tyre exports from Angola expanded markedly to X units in 2022, with an increase of 5.6% against the previous year. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 18,225%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, truck and bus tyre exports expanded to $X in 2022. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 19,118%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X units) was the main destination for truck and bus tyre exports from Angola, with a 76% share of total exports. Moreover, truck and bus tyre exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Mozambique (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+36.3% per year) and Namibia (-1.8% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for tyres for buses or lorries exports from Angola, comprising 76% of total exports. The second position in the ranking was held by Mozambique ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Democratic Republic of the Congo totaled +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+23.0% per year) and Namibia (-15.3% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by 47%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per unit), while the average price for exports to Mozambique ($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 Democratic Republic of the Congo (+2.7%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Angola

In 2022, purchases abroad of tyres for buses or lorries was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 90% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, truck and bus tyre imports amounted to $X in 2022. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2017 when imports increased by 102%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Angola, with a 88% share of total imports. It was followed by South Africa (X units), with a 2.6% share of total imports. The third position in this ranking was taken by Portugal (X units), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-13.5% per year) and Portugal (-21.8% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Angola, comprising 90% of total imports. The second position in the ranking was held by Portugal ($X), with a 2.3% share of total imports. It was followed by Russia, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-22.9% per year) and Russia (+6.5% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, declining by -8.4% against the previous year. Over the period under review, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Portugal ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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