Ethiopia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Ethiopia

In 2022, after two years of growth, there was decline in the Ethiopian gym and fitness equipment market, when its value decreased by -4.4% to $X. Over the period under review, consumption, however, saw a resilient expansion. Over the period under review, the market reached the peak level at $X in 2021, and then contracted in the following year.

Exports of Gym and Fitness Equipment

Exports from Ethiopia

In 2022, shipments abroad of gym and fitness equipment decreased by -5% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 100% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, gym and fitness equipment exports shrank to $X in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 76% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tons), Canada (X tons) and Belgium (X kg) were the main destinations of gym and fitness equipment exports from Ethiopia, together accounting for 59% of total exports. Zambia, Germany, the United States and Switzerland lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Zambia (with a CAGR of +65.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gym and fitness equipment exported from Ethiopia were Belgium ($X), Germany ($X) and South Africa ($X), together accounting for 69% of total exports. The United States, Zambia, Canada and Switzerland lagged somewhat behind, together accounting for a further 31%.

Zambia, with a CAGR of +72.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, declining by -1.6% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gym and fitness equipment export price increased by +22.3% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 128%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Canada ($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 Zimbabwe (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Ethiopia

In 2022, the amount of gym and fitness equipment imported into Ethiopia contracted to X tons, waning by -9.9% on the previous year. In general, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 83% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, gym and fitness equipment imports shrank modestly to $X in 2022. Overall, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 120% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gym and fitness equipment to Ethiopia, with a 50% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.6% per year) and the United Arab Emirates (+23.7% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Ethiopia, comprising 40% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.2% per year) and Italy (-1.0% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, picking up by 7.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 20%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform