Portugal: Hand Tools Market 2024

Hand Tools Market Size in Portugal

The Portuguese hand tools market skyrocketed to $X in 2021, increasing by 30% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +5.6% against 2018 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the near future.

Hand Tools Production in Portugal

In value terms, hand tools production contracted significantly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 5.4%. Hand tools production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hand Tools Exports

Exports from Portugal

Hand tools exports from Portugal expanded notably to X tons in 2021, growing by 8% against the previous year. In general, exports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 8.8%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, hand tools exports expanded sharply to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of hand tools exports from Portugal, together comprising 67% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +8.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hand tools exported from Portugal were Spain ($X), the Netherlands ($X) and Germany ($X), together accounting for 63% of total exports. These countries were followed by Angola, France, Cabo Verde and Mozambique, which together accounted for a further 14%.

France, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hand tools export price stood at $X per ton in 2021, increasing by 4.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Cabo Verde ($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 France (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Portugal

After two years of decline, overseas purchases of hand tools increased by 17% to X tons in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 33%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, hand tools imports soared to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 33% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Spain (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of hand tools imports to Portugal, together accounting for 60% of total imports. These countries were followed by Germany, France, Italy, the Czech Republic and Belgium, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +42.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of hand tools to Portugal, comprising 30% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.6% per year) and Germany (+7.2% per year).

Import Prices by Country

The average hand tools import price stood at $X per ton in 2021, growing by 4.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 7.6%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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