Ethiopia: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Ethiopia

The Ethiopian water-skis and surfboards market amounted to $X in 2022, growing by 6% against the previous year. In general, consumption recorded a relatively flat trend pattern. Water-skis and surfboards consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Water-Skis And Surfboards Production in Ethiopia

In value terms, water-skis and surfboards production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 46% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Water-Skis And Surfboards Exports

Exports from Ethiopia

In 2022, shipments abroad of water-skis, surfboards and sailboards was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 762%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, water-skis and surfboards exports contracted modestly to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 516% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

France (X units), Germany (X units) and the United States (X units) were the main destinations of water-skis and surfboards exports from Ethiopia, together accounting for 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +67.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for water-skis and surfboards exported from Ethiopia were Germany ($X), Kenya ($X) and the United States ($X), with a combined 83% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +60.4%, recorded the highest rates of growth with regard to the value of exports, 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 water-skis and surfboards export price amounted to $X per unit, dropping by -18.8% against the previous year. Over the period under review, the export price continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 109%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to France ($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 France (+1.7%), while the prices for the other major destinations experienced a decline.

Water-Skis And Surfboards Imports

Imports into Ethiopia

After three years of decline, purchases abroad of water-skis, surfboards and sailboards increased by 228% to X units in 2022. Over the period under review, imports, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2018 when imports increased by 420% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, water-skis and surfboards imports soared to $X in 2022. In general, imports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 205%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest water-skis and surfboards supplier to Ethiopia, accounting for a 66% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sevenfold. The third position in this ranking was held by Spain (X units), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+21.1% per year) and Spain (+18.4% per year).

In value terms, the largest water-skis and surfboards suppliers to Ethiopia were China ($X), the United States ($X) and Spain ($X), with a combined 87% share of total imports. Belgium, the United Arab Emirates, Sweden, Turkey and Denmark lagged somewhat behind, together accounting for a further 6.3%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +10.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, falling by -43.9% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 89%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, 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 the United States ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+27.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform