Ethiopia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Ethiopia

The Ethiopian unvulcanized rubber market rose slightly to $X in 2022, with an increase of 2.1% 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). Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Unvulcanized Rubber Exports

Exports from Ethiopia

In 2022, approx. X kg of unvulcanized rubber and articles thereof were exported from Ethiopia; increasing by 54% on the year before. Over the period under review, exports, however, continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2015 with an increase of 2,414% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, unvulcanized rubber exports soared to $X in 2022. In general, exports, however, showed a dramatic descent. The pace of growth appeared the most rapid in 2015 when exports increased by 1,343%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for unvulcanized rubber exports from Ethiopia, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +3.3%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for unvulcanized rubber and articles thereof exports from Ethiopia.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +7.1%.

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, reducing by -13.6% against the previous year. In general, the export price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 an increase of 149% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +3.7% per year.

Unvulcanized Rubber Imports

Imports into Ethiopia

Unvulcanized rubber imports into Ethiopia totaled X tons in 2022, remaining stable against 2021 figures. Overall, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 130% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, unvulcanized rubber imports expanded to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.3% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 104% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Pakistan (X tons), Vietnam (X tons) and Italy (X tons) were the main suppliers of unvulcanized rubber imports to Ethiopia, together accounting for 69% of total imports. South Korea, Turkey, China, Thailand, Malaysia and India lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +83.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanized rubber suppliers to Ethiopia were Pakistan ($X), Italy ($X) and Vietnam ($X), together accounting for 54% of total imports. China, South Korea, Turkey, Thailand, Malaysia and India lagged somewhat behind, together accounting for a further 29%.

Turkey, with a CAGR of +67.6%, saw the highest growth rate of the value of imports, among 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 unvulcanized rubber import price amounted to $X per ton, growing by 1.7% against the previous year. Overall, the import price, however, showed a slight slump. The pace of growth was the most pronounced in 2013 when the average import price increased by 23%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform