Ethiopia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Ethiopia

The Ethiopian grinding and sharpening machine market expanded slightly to $X in 2022, increasing by 2.7% against the previous year. In general, consumption showed strong growth. Grinding and sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Ethiopia

In value terms, grinding and sharpening machine production expanded modestly to $X in 2022 estimated in export price. Overall, production recorded a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by 46% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Ethiopia

In 2022, shipments abroad of grinding and sharpening metal finishing machines increased by 650% to X units, rising for the second year in a row after two years of decline. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 20,050%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, grinding and sharpening machine exports contracted notably to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 351% against the previous year. As a result, the exports reached the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Djibouti (X units) was the main destination for grinding and sharpening machine exports from Ethiopia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Djibouti stood at +31.1%.

In value terms, Djibouti ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Ethiopia, comprising 98% of total exports. The second position in the ranking was taken by Germany ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Djibouti amounted to +36.5%.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, falling by -94% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2019 when the average export price increased by 6,257% against the previous year. The export price peaked at $X per unit in 2021, and then contracted remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for Djibouti.

From 2012 to 2022, the rate of growth in terms of prices for Djibouti amounted to +4.1% per year.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Ethiopia

In 2022, after three years of decline, there was significant growth in purchases abroad of grinding and sharpening metal finishing machines, when their volume increased by 42% to X units. In general, imports, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 61% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, grinding and sharpening machine imports skyrocketed to $X in 2022. Over the period under review, imports recorded a strong increase. The growth pace was the most rapid in 2014 when imports increased by 231% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X units), Italy (X units) and India (X units) were the main suppliers of grinding and sharpening machine imports to Ethiopia, together accounting for 44% of total imports. South Africa, Turkey, China, Hong Kong SAR, the United Arab Emirates, Germany, Taiwan (Chinese), Sweden, the United States and Belgium lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +23.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Ethiopia, comprising 47% of total imports. The second position in the ranking was taken by France ($X), with an 18% share of total imports. It was followed by India, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+61.2% per year) and India (+29.0% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, with a decrease of -4.1% against the previous year. Overall, the import price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 277%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained 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 China ($X per unit), while the price for Sweden ($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 (+32.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform