Kenya: Timer Market 2024

Timer Market Size in Kenya

In 2022, the Kenyan timer market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, saw a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Timer Exports

Exports from Kenya

In 2022, shipments abroad of timers was finally on the rise to reach X units after two years of decline. Overall, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 1,310%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, timer exports surged to $X in 2022. In general, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 2,169%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mozambique (X units) was the main destination for timer exports from Kenya, with a 42% share of total exports. Moreover, timer exports to Mozambique exceeded the volume sent to the second major destination, Uganda (X units), threefold. The third position in this ranking was taken by Ethiopia (X units), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mozambique totaled +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-9.3% per year) and Ethiopia (+4.1% per year).

In value terms, Mozambique ($X) remains the key foreign market for timers exports from Kenya, comprising 76% of total exports. The second position in the ranking was held by Uganda ($X), with a 14% share of total exports. It was followed by Ethiopia, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mozambique totaled -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-14.7% per year) and Ethiopia (-1.4% per year).

Export Prices by Country

The average timer export price stood at $X per unit in 2022, growing by 40% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 61% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, 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 Mozambique ($X per unit), while the average price for exports to South Africa ($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 Rwanda (-4.6%), while the prices for the other major destinations experienced a decline.

Timer Imports

Imports into Kenya

In 2022, after three years of decline, there was significant growth in supplies from abroad of timers, when their volume increased by 20% to X units. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 250% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, timer imports expanded remarkably to $X in 2022. Over the period under review, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 317% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and the United Arab Emirates (X units) were the main suppliers of timer imports to Kenya, with a combined 76% share of total imports. South Korea, the United States and the UK lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +25.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest timer suppliers to Kenya were China ($X), the United States ($X) and India ($X), with a combined 73% share of total imports. South Korea, the United Arab Emirates and the UK lagged somewhat behind, together comprising a further 5.1%.

South Korea, with a CAGR of +65.9%, 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

The average timer import price stood at $X per unit in 2022, with a decrease of -6% against the previous year. Over the period under review, the import price recorded a perceptible reduction. The growth pace was the most rapid in 2018 an increase of 130% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+31.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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