Libya: Tyre Market 2024

Tyre Market Size in Libya

The Libyan tyre market dropped dramatically to $X in 2022, which is down by X% 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, consumption recorded a abrupt slump. Tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tyre Exports

Exports from Libya

In 2022, tyre exports from Libya declined to X units, which is down by X% against the previous year. In general, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, tyre exports declined slightly to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X units) was the main destination for tyre exports from Libya, with a X% share of total exports. Moreover, tyre exports to Niger exceeded the volume sent to the second major destination, Senegal (X units), fourfold. The third position in this ranking was held by Egypt (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Niger amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X% per year) and Egypt (X% per year).

In value terms, Niger ($X) remains the key foreign market for tyres exports from Libya, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Niger stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X% per year) and Egypt (X% per year).

Export Prices by Country

The average tyre export price stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 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 Niger ($X per unit), while the average price for exports to Egypt ($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 Sudan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Tyre Imports

Imports into Libya

Tyre imports into Libya shrank sharply to X units in 2022, declining by X% on the year before. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tyre imports declined significantly to $X in 2022. In general, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest tyre supplier to Libya, with a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sevenfold. South Korea (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres to Libya, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, with an increase of X% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tyre import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Japan ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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