Ethiopia: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Ethiopia

The Ethiopian refrigerator or freezer market soared to $X in 2022, increasing by 214% 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). In general, consumption saw a significant expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Ethiopia

For the third consecutive year, Ethiopia recorded decline in overseas shipments of furniture designed to receive refrigerating or freezing equipment, which decreased by 0% to X units in 2021. Overall, exports posted a significant increase. The smallest decline of -21% was in 2019. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, refrigerator or freezer exports stood at $X in 2021. Over the period under review, exports saw a resilient expansion. The smallest decline of -25.4% was in 2019. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for refrigerator or freezer exports from Ethiopia, accounting for a 90% share of total exports. Moreover, refrigerator or freezer exports to the United States exceeded the volume sent to the second major destination, Kenya (X units), ninefold.

From 2015 to 2021, the average annual growth rate of volume to the United States was relatively modest.

From 2015 to 2021, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average refrigerator or freezer export price stood at $X per unit in 2021, remaining constant against the previous year. Overall, the export price continues to indicate a deep setback. The growth pace was the most rapid in 2019 a decrease of -5.6% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-20.1%).

Refrigerator Or Freezer Imports

Imports into Ethiopia

In 2022, approx. X units of furniture designed to receive refrigerating or freezing equipment were imported into Ethiopia; jumping by 207% against the year before. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2017 with an increase of 287% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, refrigerator or freezer imports surged to $X in 2022. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by 514% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerator or freezer to Ethiopia, with a 75% share of total imports. Moreover, refrigerator or freezer imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X units), sixfold. The third position in this ranking was held by Romania (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +62.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+111.8% per year) and Romania (+6.6% per year).

In value terms, China ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Ethiopia, comprising 68% of total imports. The second position in the ranking was taken by South Africa ($X), with a 16% share of total imports. It was followed by Thailand, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +78.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+104.5% per year) and Thailand (+53.6% per year).

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, growing by 3.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 75%. Over the period under review, average import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Thailand ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform