Ethiopia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Ethiopia

For the fourth consecutive year, the Ethiopian industrial sewing machine market recorded decline in sales value, which decreased by -1.9% to $X in 2022. Overall, consumption saw a strong increase. Industrial sewing machine consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports from Ethiopia

In 2022, shipments abroad of industrial sewing machines decreased by -0.7% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 454% against the previous year. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial sewing machine exports rose markedly to $X in 2022. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2019 with an increase of 1,031% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for industrial sewing machine exports from Ethiopia, with a 83% share of total exports. Moreover, industrial sewing machine exports to Germany exceeded the volume sent to the second major destination, India (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +49.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.6% per year) and Kenya (+13.3% per year).

In value terms, Germany ($X) emerged as the key foreign market for industrial sewing machines exports from Ethiopia, comprising 89% of total exports. The second position in the ranking was taken by India ($X), with a 7.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +99.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-25.6% per year) and Kenya (+6.9% per year).

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, surging by 8.9% against the previous year. Overall, the export price saw buoyant growth. The growth pace was the most rapid in 2021 when the average export price increased by 593%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Kenya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+859.9%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Sewing Machine Imports

Imports into Ethiopia

In 2022, industrial sewing machine imports into Ethiopia was estimated at X units, picking up by 12% compared with the previous year's figure. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 113% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machine imports shrank to $X in 2022. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 131%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of industrial sewing machine to Ethiopia, with a 52% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Hong Kong SAR (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+46.8% per year) and Hong Kong SAR (+39.7% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Ethiopia, comprising 48% of total imports. The second position in the ranking was held by Vietnam ($X), with a 9.8% share of total imports. It was followed by Hong Kong SAR, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+40.8% per year) and Hong Kong SAR (+57.3% per year).

Import Prices by Country

In 2022, the average industrial sewing machine import price amounted to $X per unit, falling by -20.6% against the previous year. Overall, the import price, however, recorded moderate growth. The pace of growth appeared the most rapid in 2021 an increase of 91% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 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 Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform