SADC: Wood Tool Market 2024

Wood Tool Market Size in SADC

The SADC wood tool market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 decreased by -5.2% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wood Tool Production in SADC

In value terms, wood tool production contracted to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.4% against 2018 indices. The growth pace was the most rapid in 2017 when the production volume increased by 41%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Wood Tool Exports

Exports in SADC

In 2021, wood tool exports in SADC skyrocketed to X tons, growing by 84% compared with the previous year. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, wood tool exports skyrocketed to $X in 2021. Overall, exports, however, recorded a perceptible reduction. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Tanzania (X tons), creating a 6.5% share of total exports. Zimbabwe (X tons) held a minor share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of tools of wood. At the same time, Tanzania (+45.8%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +45.8% from 2012-2021. Zimbabwe experienced a relatively flat trend pattern. Tanzania (+6.3 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -1.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest wood tool supplier in SADC, comprising 93% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -1.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (+27.6% per year) and Zimbabwe (-5.3% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, with a decrease of -1.6% against the previous year. In general, the export price showed a pronounced decrease. The growth pace was the most rapid in 2020 when the export price increased by 15% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-0.7%), while the other leaders experienced a decline in the export price figures.

Wood Tool Imports

Imports in SADC

In 2021, the amount of tools of wood imported in SADC dropped to X tons, declining by -6.7% on 2020. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 33% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, wood tool imports surged to $X in 2021. Total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +34.0% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Africa (X tons) represented the key importer of tools of wood, committing 67% of total imports. It was distantly followed by Tanzania (X tons), generating a 10% share of total imports. Angola (X tons), Mauritius (X tons), Madagascar (X tons), Mozambique (X tons), Democratic Republic of the Congo (X tons) and Botswana (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wood tool imports into South Africa stood at +1.3%. At the same time, Mozambique (+24.6%), Madagascar (+22.4%), Democratic Republic of the Congo (+15.8%), Tanzania (+9.7%), Botswana (+4.8%) and Mauritius (+2.3%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +24.6% from 2012-2021. By contrast, Angola (-14.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Tanzania, South Africa, Madagascar, Mozambique and Democratic Republic of the Congo increased by +5.5, +3.3, +3.1, +2.8 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Tanzania ($X) and Angola ($X) were the countries with the highest levels of imports in 2021, with a combined 71% share of total imports.

Tanzania, with a CAGR of +24.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, increasing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Tanzania ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform