Ethiopia: Market for Iron Or Steel Anchors, Grapnels 2024

Market Size for Iron Or Steel Anchors, Grapnels in Ethiopia

In 2022, after five years of decline, there was growth in the Ethiopian metal anchors and grapnels market, when its value increased by 1.5% to $X. Over the period under review, consumption continues to indicate a abrupt curtailment. Metal anchors and grapnels consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Exports of Iron Or Steel Anchors, Grapnels

Exports from Ethiopia

In 2020, approx. X units of iron or steel anchors, grapnels were exported from Ethiopia; rising by 20% compared with the previous year. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 170% against the previous year. The exports peaked in 2020 and are likely to see steady growth in the immediate term.

In value terms, metal anchors and grapnels exports surged to $X in 2020. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 90%. Over the period under review, the exports hit record highs in 2020 and are expected to retain growth in years to come.

Exports by Country

Djibouti (X units) was the main destination for metal anchors and grapnels exports from Ethiopia, with a 92% share of total exports. Moreover, metal anchors and grapnels exports to Djibouti exceeded the volume sent to the second major destination, the UK (X units), more than tenfold.

From 2014 to 2020, the average annual rate of growth in terms of volume to Djibouti stood at +17.6%.

In value terms, the largest markets for metal anchors and grapnels exported from Ethiopia were the UK ($X) and Djibouti ($X).

The UK, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average metal anchors and grapnels export price stood at $X per unit in 2020, standing approx. at the previous year. Overall, the export price, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2018 when the average export price increased by less than 0.1% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2020, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Djibouti amounted to $X per unit.

From 2014 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Djibouti (-15.1%).

Imports of Iron Or Steel Anchors, Grapnels

Imports into Ethiopia

In 2022, approx. X units of iron or steel anchors, grapnels were imported into Ethiopia; falling by -4% against the previous year's figure. Over the period under review, imports recorded a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 144% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal anchors and grapnels imports expanded significantly to $X in 2022. Overall, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2013 when imports increased by 176% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest metal anchors and grapnels supplier to Ethiopia, with a 64% share of total imports. Moreover, metal anchors and grapnels imports from Italy exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fivefold. The third position in this ranking was held by Turkey (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+27.3% per year) and Turkey (-4.0% per year).

In value terms, Italy ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the largest metal anchors and grapnels suppliers to Ethiopia, with a combined 78% share of total imports.

The United Arab Emirates, with a CAGR of +26.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal anchors and grapnels import price amounted to $X per unit, growing by 10% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal anchors and grapnels import price increased by +63.6% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 70% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 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 Turkey ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform