Kenya: Copper Wire Market 2024

Copper Wire Market Size in Kenya

In 2021, after four years of growth, there was decline in the Kenyan copper wire market, when its value decreased by -4.7% to $X. The market value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Copper Wire Production in Kenya

In value terms, copper wire production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Copper Wire Exports

Exports from Kenya

In 2021, shipments abroad of copper wire increased by 51% to X tons, rising for the second year in a row after five years of decline. In general, exports, however, showed a drastic downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper wire exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons) was the main destination for copper wire exports from Kenya, accounting for a 91% share of total exports. Moreover, copper wire exports to Tanzania exceeded the volume sent to the second major destination, Uganda (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-15.8% per year) and Singapore (-34.6% per year).

In value terms, Tanzania ($X) remains the key foreign market for copper wire exports from Kenya, comprising 92% of total exports. The second position in the ranking was taken by Uganda ($X), with a 6.1% share of total exports. It was followed by Singapore, with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Tanzania totaled -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+1.1% per year) and Singapore (-37.9% per year).

Export Prices by Country

The average copper wire export price stood at $X per ton in 2021, rising by 21% against the previous year. Overall, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +110.1% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 44%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+23.2%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports

Imports into Kenya

In 2021, purchases abroad of copper wire decreased by -31.8% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. Imports peaked at X tons in 2020, and then reduced remarkably in the following year.

In value terms, copper wire imports contracted modestly to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

The United Arab Emirates (X tons), Russia (X tons) and Zambia (X tons) were the main suppliers of copper wire imports to Kenya, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +11.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Russia ($X) and Zambia ($X) appeared to be the largest copper wire suppliers to Kenya, together accounting for 97% of total imports.

Among the main suppliers, Russia, with a CAGR of +13.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, rising by 44% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform