SADC: Accordion Market 2024

Accordion Market Size in SADC

In 2021, the SADC accordion market decreased by -3.5% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, saw a abrupt decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Accordion Production in SADC

In value terms, accordion production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 15% against the previous year. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Accordion Exports

Exports in SADC

In 2021, overseas shipments of accordions and mouth organs increased by 24% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a mild slump. The pace of growth appeared the most rapid in 2017 with an increase of 143%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, accordion exports skyrocketed to $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 60%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa was the largest exporting country with an export of around X units, which resulted at 54% of total exports. Mozambique (X units) ranks second in terms of the total exports with a 24% share, followed by Botswana (11%). Namibia (X units), Tanzania (X units), Madagascar (X units) and Angola (X units) followed a long way behind the leaders.

Exports from South Africa increased at an average annual rate of +36.8% from 2012 to 2021. At the same time, Botswana (+51.8%), Namibia (+33.2%), Madagascar (+19.1%) and Mozambique (+17.8%) displayed positive paces of growth. Moreover, Botswana emerged as the fastest-growing exporter exported in SADC, with a CAGR of +51.8% from 2012-2021. By contrast, Angola (-27.5%) and Tanzania (-28.8%) illustrated a downward trend over the same period. While the share of South Africa (+51 p.p.), Mozambique (+19 p.p.), Botswana (+11 p.p.), Namibia (+2.4 p.p.) and Madagascar (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Angola (-27.6 p.p.) and Tanzania (-46.5 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest accordion supplier in SADC, comprising 91% of total exports. The second position in the ranking was taken by Botswana ($X), with a 4.6% share of total exports. It was followed by Mozambique, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled +5.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Botswana (+50.7% per year) and Mozambique (+32.5% per year).

Export Prices by Country

The export price in SADC stood at $X per unit in 2021, surging by 4% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion export price increased by +57.2% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 36% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Angola (+21.6%), while the other leaders experienced more modest paces of growth.

Accordion Imports

Imports in SADC

In 2021, imports of accordions and mouth organs in SADC expanded sharply to X units, increasing by 5.2% compared with 2020 figures. In general, imports, however, continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2019 with an increase of 276% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, accordion imports totaled $X in 2021. Overall, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when imports increased by 81%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Angola (X units) represented the major importer of accordions and mouth organs, comprising 49% of total imports. It was distantly followed by South Africa (X units), Botswana (X units) and Tanzania (X units), together mixing up a 40% share of total imports. Mauritius (X units) and Namibia (X units) followed a long way behind the leaders.

Imports into Angola decreased at an average annual rate of -2.5% from 2012 to 2021. At the same time, Tanzania (+42.6%) and Mauritius (+7.3%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +42.6% from 2012-2021. Botswana experienced a relatively flat trend pattern. By contrast, Namibia (-4.8%) and South Africa (-10.1%) illustrated a downward trend over the same period. Angola (+6.7 p.p.), Tanzania (+5.8 p.p.), Botswana (+3.6 p.p.) and Mauritius (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -17.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported accordions and mouth organs in SADC, comprising 72% of total imports. The second position in the ranking was held by Tanzania ($X), with a 4.6% share of total imports. It was followed by Angola, with a 4% share.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled -7.4%. In the other countries, the average annual rates were as follows: Tanzania (+13.8% per year) and Angola (-24.6% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2021, reducing by -4.3% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2020 an increase of 162%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per unit), while Angola ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform