Angola: Tyre Market 2024

Tyre Market Size in Angola

The Angolan tyre market surged to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable descent. Tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tyre Production in Angola

In value terms, tyre production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Tyre Exports

Exports from Angola

In 2022, the amount of tyres exported from Angola reduced markedly to X units, waning by X% on 2021. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, tyre exports declined significantly to $X in 2022. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% 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

Democratic Republic of the Congo (X units) was the main destination for tyre exports from Angola, accounting for a X% share of total exports. Moreover, tyre exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Cuba (X units), fivefold. Sao Tome and Principe (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Sao Tome and Principe (X% per year).

In value terms, Democratic Republic of the Congo ($X) remains the key foreign market for tyres exports from Angola, comprising X% of total exports. The second position in the ranking was held by Cuba ($X), with a X% share of total exports. It was followed by Sao Tome and Principe, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Sao Tome and Principe (X% per year).

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, recorded a deep reduction. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external 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 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into Angola

In 2022, overseas purchases of tyres were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a perceptible reduction. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tyre imports surged to $X in 2022. Overall, imports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum 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 tyre supplier to Angola, with a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X units), more than tenfold. Portugal (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of tyres to Angola, comprising X% of total imports. The second position in the ranking was taken by Portugal ($X), with an X% share of total imports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and South Africa (X% per year).

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 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 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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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