Tanzania: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Tanzania

The Tanzanian plastic ornamental articles market expanded remarkably to $X in 2022, with an increase of 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded modest growth. Plastic ornamental articles consumption peaked in 2022 and is expected to retain growth in the near future.

Plastic Ornamental Articles Exports

Exports from Tanzania

In 2022, overseas shipments of statuettes and other ornamental articles of plastic decreased by -78.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 926%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined rapidly in the following year.

In value terms, plastic ornamental articles exports dropped markedly to $X in 2022. Over the period under review, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,415%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg), Sweden (X kg) and Algeria (X kg) were the main destinations of plastic ornamental articles exports from Tanzania, together accounting for 41% of total exports. Germany, France, the UK, the United Arab Emirates, Singapore, Mozambique, South Africa, Ethiopia, India and Rwanda lagged somewhat behind, together accounting for a further 52%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +96.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Algeria ($X) and Sweden ($X) constituted the largest markets for plastic ornamental articles exported from Tanzania worldwide, together comprising 40% of total exports. Singapore, Germany, France, the United Arab Emirates, Ethiopia, South Africa, the UK, India, Mozambique and Rwanda lagged somewhat behind, together accounting for a further 52%.

In terms of the main countries of destination, South Africa, with a CAGR of +44.1%, 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

In 2022, the average plastic ornamental articles export price amounted to $X per ton, growing by 275% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Mozambique ($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 Germany (-2.9%), while the prices for the other major destinations experienced a decline.

Plastic Ornamental Articles Imports

Imports into Tanzania

Plastic ornamental articles imports into Tanzania skyrocketed to X tons in 2022, picking up by 31% on the previous year. Overall, imports posted mild growth. The most prominent rate of growth was recorded in 2019 when imports increased by 51%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic ornamental articles imports reduced to $X in 2022. In general, imports recorded temperate growth. The growth pace was the most rapid in 2019 when imports increased by 119%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of plastic ornamental articles to Tanzania, accounting for a 90% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-9.6% per year) and Hong Kong SAR (+6.8% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Tanzania, comprising 90% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+21.1% per year) and India (-8.4% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, reducing by -27.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 45%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform