Kenya: Nails And Tacks Market 2024

Nails And Tacks Market Size in Kenya

The Kenyan nails and tacks market shrank to $X in 2022, dropping by -14.2% 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). In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +19.3% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Nails And Tacks Exports

Exports from Kenya

Nails and tacks exports from Kenya reduced to X tons in 2022, remaining relatively unchanged against 2021. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 86%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, nails and tacks exports dropped to $X in 2022. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 117% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Uganda (X tons) was the main destination for nails and tacks exports from Kenya, with a 49% share of total exports. Moreover, nails and tacks exports to Uganda exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), twofold. Ethiopia (X kg) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda stood at +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+70.2% per year) and Ethiopia (+15.4% per year).

In value terms, Uganda ($X) remains the key foreign market for nails, tacks, drawing pins, corrugated nails, staples exports from Kenya, comprising 52% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 20% share of total exports. It was followed by Tanzania, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uganda amounted to +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+13.7% per year) and Tanzania (-2.4% per year).

Export Prices by Country

In 2022, the average nails and tacks export price amounted to $X per ton, waning by -10.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 47% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.

Nails And Tacks Imports

Imports into Kenya

Nails and tacks imports into Kenya reduced remarkably to X tons in 2022, falling by -18.6% compared with the previous year. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 70%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, nails and tacks imports declined to $X in 2022. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 68%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

China (X tons), India (X tons) and Slovenia (X tons) were the main suppliers of nails and tacks imports to Kenya, together accounting for 89% of total imports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +7.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of nails, tacks, drawing pins, corrugated nails, staples to Kenya, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with a 26% share of total imports. It was followed by Slovenia, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.6% per year) and Slovenia (+6.5% per year).

Import Prices by Country

The average nails and tacks import price stood at $X per ton in 2022, surging by 6.5% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nails and tacks import price decreased by -5.3% against 2020 indices. The growth pace was the most rapid in 2020 when the average import price increased by 28% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Slovenia ($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 (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :