Cameroon: Umbrella Market 2024

Umbrella Market Size in Cameroon

After four years of growth, the Cameroonian umbrella market decreased by -7% to $X in 2022. In general, consumption recorded prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Umbrella Exports

Exports from Cameroon

After four years of decline, shipments abroad of umbrellas increased by 23% to X units in 2022. Overall, exports, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2017 with an increase of 413%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, umbrella exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 157% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for umbrella exports from Cameroon, accounting for a 47% share of total exports. Moreover, umbrella exports to Japan exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. Austria (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+68.3% per year) and Austria (-3.9% per year).

In value terms, the largest markets for umbrella exported from Cameroon were Austria ($X), Japan ($X) and Central African Republic ($X), together accounting for 63% of total exports. The Netherlands, Gabon, Canada and Switzerland lagged somewhat behind, together accounting for a further 27%.

The Netherlands, with a CAGR of +22.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average umbrella export price amounted to $X per unit, reducing by -7.6% against the previous year. Overall, the export price saw a perceptible slump. The growth pace was the most rapid in 2018 an increase of 195%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Japan ($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 South Africa (+130.5%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella Imports

Imports into Cameroon

In 2022, the amount of umbrellas imported into Cameroon amounted to X units, flattening at 2021 figures. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.9% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 57% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, umbrella imports dropped to $X in 2022. Over the period under review, imports saw resilient growth. The pace of growth was the most pronounced in 2019 when imports increased by 149%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X units) constituted the largest umbrella supplier to Cameroon, with a 88% share of total imports. Moreover, umbrella imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The UK (X units) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+22.7% per year) and the UK (+23.6% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas to Cameroon, comprising 91% of total imports. The second position in the ranking was held by Vietnam ($X), with a 4.2% share of total imports. It was followed by the UK, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+27.8% per year) and the UK (+22.7% per year).

Import Prices by Country

The average umbrella import price stood at $X per unit in 2022, shrinking by -9.9% against the previous year. Overall, the import price, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 59% against the previous year. The import price peaked at $X per unit in 2021, and then dropped in the following year.

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 Vietnam ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform