Ethiopia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Ethiopia

The Ethiopian cranks and crankshafts market was estimated at $X in 2022, growing by 6.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Cranks and crankshafts consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Ethiopia

In 2022, overseas shipments of cranks and crankshafts were finally on the rise to reach X kg after two years of decline. In general, exports posted a noticeable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 995%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by 924% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg), Germany (X kg) and Nigeria (X kg) were the main destinations of cranks and crankshafts exports from Ethiopia, with a combined 88% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +22.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cranks and crankshafts exports from Ethiopia, comprising 54% of total exports. The second position in the ranking was taken by Germany ($X), with a 25% share of total exports. It was followed by Nigeria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.8% per year) and Nigeria (+39.9% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, reducing by -26.6% against the previous year. In general, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 41%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to the United Arab Emirates ($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 Oman (+46.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Ethiopia

Cranks and crankshafts imports into Ethiopia totaled X tons in 2022, with an increase of 12% against the year before. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 396% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports stood at $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 333% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of cranks and crankshafts to Ethiopia, accounting for a 50% share of total imports. Moreover, cranks and crankshafts imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. India (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.2% per year) and India (-6.3% per year).

In value terms, the largest cranks and crankshafts suppliers to Ethiopia were Japan ($X), China ($X) and India ($X), with a combined 58% share of total imports. France, the United States, Italy and South Korea lagged somewhat behind, together accounting for a further 22%.

France, with a CAGR of +36.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, with a decrease of -7% against the previous year. Over the period under review, the import price showed a deep downturn. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average 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 France ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform