Nepal: Copper Chain Market 2024

Copper Chain Market Size in Nepal

In 2022, the Nepalese copper chain market decreased by -8.6% to $X, falling for the third consecutive year after three years of growth. In general, consumption, however, recorded a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Copper Chain Production in Nepal

In value terms, copper chain production soared to $X in 2022 estimated in export price. In general, production continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 53% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Copper Chain Exports

Exports from Nepal

In 2022, the amount of chain and parts thereof of copper exported from Nepal skyrocketed to X tons, surging by 641% compared with the previous year's figure. Overall, exports, however, continue to indicate a noticeable descent. The growth pace was the most rapid in 2018 with an increase of 3,217% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, copper chain exports surged to $X in 2022. In general, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of 2,928% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

China (X kg), India (X kg) and Italy (X kg) were the main destinations of copper chain exports from Nepal, with a combined 93% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +50.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for copper chain exported from Nepal were Italy ($X), India ($X) and Australia ($X), with a combined 92% share of total exports.

Among the main countries of destination, Italy, with a CAGR of +24.8%, recorded the highest growth rate of 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

The average copper chain export price stood at $X per ton in 2022, picking up by 6.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 58% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 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 Italy ($X per ton), while the average price for exports to China ($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 Australia (+22.9%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Chain Imports

Imports into Nepal

In 2022, after two years of decline, there was significant growth in supplies from abroad of chain and parts thereof of copper, when their volume increased by 22% to X kg. Over the period under review, imports showed a strong increase. The growth pace was the most rapid in 2013 when imports increased by 541% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, copper chain imports fell to $X in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by 540% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X kg) constituted the largest copper chain supplier to Nepal, accounting for a 74% share of total imports. Moreover, copper chain imports from India exceeded the figures recorded by the second-largest supplier, Germany (X kg), fivefold. The third position in this ranking was held by China (X kg), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +51.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.1% per year) and China (-1.5% per year).

In value terms, India ($X) constituted the largest supplier of chain and parts thereof of copper to Nepal, comprising 63% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +75.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.4% per year) and China (+8.7% per year).

Import Prices by Country

The average copper chain import price stood at $X per ton in 2022, reducing by -21.9% against the previous year. Overall, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 97%. As a result, import price attained the peak level of $X per ton. From 2018 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 Switzerland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform