Cameroon: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Cameroon

The Cameroonian machine-tool for drilling market reached $X in 2022, remaining stable against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Machine-Tool For Drilling Production in Cameroon

In value terms, machine-tool for drilling production declined modestly to $X in 2022 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 40%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Cameroon

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal decreased by -15% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of 626%. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports shrank significantly to $X in 2022. In general, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 16,129%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for machine-tool for drilling exports from Cameroon, with a 88% share of total exports. Moreover, machine-tool for drilling exports to Belgium exceeded the volume sent to the second major destination, Ghana (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +14.1%.

In value terms, Belgium ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Cameroon, comprising 95% of total exports. The second position in the ranking was taken by Ghana ($X), with a 4.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium totaled +13.4%.

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, with a decrease of -84.4% against the previous year. Over the period under review, the export price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 an increase of 29,112%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Ghana totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+49.1%), while the prices for the other major destinations experienced a decline.

Machine-Tool For Drilling Imports

Imports into Cameroon

In 2022, imports of machine-tools for drilling, boring or milling metal into Cameroon surged to X units, rising by 41% compared with the year before. Overall, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by 133% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports rose slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 161%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of machine-tool for drilling to Cameroon, with a 53% share of total imports. Moreover, machine-tool for drilling imports from Italy exceeded the figures recorded by the second-largest supplier, Portugal (X units), sevenfold. China (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+10.6% per year) and China (+3.5% per year).

In value terms, the largest machine-tool for drilling suppliers to Cameroon were Italy ($X), France ($X) and China ($X), with a combined 61% share of total imports. Spain, Portugal, the UK, Austria and Ghana lagged somewhat behind, together comprising a further 4.9%.

In terms of the main suppliers, Austria, with a CAGR of +53.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machine-tool for drilling import price stood at $X per unit in 2022, waning by -26.4% against the previous year. Overall, the import price, however, continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2015 an increase of 99% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform