Ethiopia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Ethiopia

The Ethiopian market for copper bars, rods and profiles shrank slightly to $X in 2022, almost unchanged from the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +0.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in Ethiopia

In value terms, copper bar, rod and profile production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +0.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Ethiopia

After two years of decline, shipments abroad of copper bars, rods and profiles increased by 11% to X tons in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 149%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports fell modestly to $X in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 299%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for copper bar, rod and profile exports from Ethiopia, with a 63% share of total exports. Moreover, copper bar, rod and profile exports to China exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by Kenya (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +52.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+13.5% per year) and Kenya (-10.1% per year).

In value terms, China ($X), India ($X) and the United Arab Emirates ($X) were the largest markets for copper bar, rod and profile exported from Ethiopia worldwide, together comprising 99% of total exports.

China, with a CAGR of +75.9%, 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

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, shrinking by -12.2% against the previous year. In general, the export price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 129%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Somalia (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Ethiopia

In 2022, after two years of growth, there was significant decline in purchases abroad of copper bars, rods and profiles, when their volume decreased by -14.8% to X tons. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 378%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, copper bar, rod and profile imports contracted sharply to $X in 2022. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 436%. Imports peaked at $X in 2021, and then shrank sharply in the following year.

Imports by Country

Egypt (X tons), the United Arab Emirates (X tons) and India (X tons) were the main suppliers of copper bar, rod and profile imports to Ethiopia, together accounting for 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +68.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Egypt ($X) and India ($X) appeared to be the largest copper bar, rod and profile suppliers to Ethiopia, together accounting for 94% of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +81.1%, recorded the highest growth rate of 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

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, reducing by -6.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 37%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average 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 the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform