Tanzania: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Tanzania

After two years of growth, the Tanzanian concrete reinforcing bar market decreased by -54.6% to $X in 2022. Overall, consumption showed a pronounced curtailment. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Concrete Reinforcing Bar Exports

Exports from Tanzania

Concrete reinforcing bar exports from Tanzania soared to X tons in 2022, increasing by 161% compared with 2021. In general, exports continue to indicate measured growth. The most prominent rate of growth was recorded in 2019 with an increase of 164%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, concrete reinforcing bar exports surged to $X in 2022. Overall, exports recorded notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Rwanda (X tons) was the main destination for concrete reinforcing bar exports from Tanzania, accounting for a 59% share of total exports. Moreover, concrete reinforcing bar exports to Rwanda exceeded the volume sent to the second major destination, Burundi (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Rwanda stood at -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (+19.8% per year) and Democratic Republic of the Congo (+108.3% per year).

In value terms, the largest markets for concrete reinforcing bar exported from Tanzania were Rwanda ($X), Burundi ($X) and Democratic Republic of the Congo ($X), with a combined 99% share of total exports.

Democratic Republic of the Congo, with a CAGR of +132.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average concrete reinforcing bar export price amounted to $X per ton, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 28%. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Rwanda ($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 Uganda (+85.7%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into Tanzania

In 2022, overseas purchases of concrete reinforcing bars decreased by -48.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 79%. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, concrete reinforcing bar imports shrank significantly to $X in 2022. In general, imports saw a perceptible shrinkage. The growth pace was the most rapid in 2021 with an increase of 104% against the previous year. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

South Africa (X tons), Turkey (X tons) and Kenya (X tons) were the main suppliers of concrete reinforcing bar imports to Tanzania, together comprising 83% of total imports. China, India, Burundi and Zambia lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Burundi (with a CAGR of +113.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Turkey ($X) and Kenya ($X) constituted the largest concrete reinforcing bar suppliers to Tanzania, with a combined 84% share of total imports. China, Zambia, India and Burundi lagged somewhat behind, together comprising a further 13%.

Burundi, with a CAGR of +113.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average concrete reinforcing bar import price stood at $X per ton in 2022, surging by 16% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +31.6% against 2020 indices. The growth pace was the most rapid in 2018 when the average import price increased by 36% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Zambia ($X per ton), while the price for Burundi ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform