Tanzania: Zinc Market 2024

Zinc Market Size in Tanzania

The Tanzanian zinc market fell to $X in 2022, with a decrease of -3.5% 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). Overall, consumption saw a deep contraction. Zinc consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Zinc Exports

Exports from Tanzania

In 2022, approx. X tons of zinc, unwrought (not alloyed) were exported from Tanzania; growing by 42% compared with the previous year. Over the period under review, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2019 with an increase of 66%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, zinc exports rose slightly to $X in 2022. Overall, exports showed a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 57%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X tons) was the main destination for zinc exports from Tanzania, accounting for a 51% share of total exports. Moreover, zinc exports to India exceeded the volume sent to the second major destination, Kenya (X tons), twofold. Uganda (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+2.3% per year) and Uganda (+14.6% per year).

In value terms, Kenya ($X) remains the key foreign market for zinc, unwrought (not alloyed) exports from Tanzania, comprising 92% of total exports. The second position in the ranking was taken by India ($X), with a 4.8% share of total exports. It was followed by Uganda, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kenya amounted to +46.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+0.8% per year) and Uganda (+3.0% per year).

Export Prices by Country

The average zinc export price stood at $X per ton in 2022, declining by -27.3% against the previous year. Over the period under review, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 an increase of 69% against the previous year. The export price peaked at $X per ton in 2021, and then contracted notably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kenya ($X per ton), while the average price for exports to Zambia ($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 Kenya (+43.4%), while the prices for the other major destinations experienced a decline.

Zinc Imports

Imports into Tanzania

Zinc imports into Tanzania fell markedly to X tons in 2022, shrinking by -18% on the year before. In general, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, zinc imports expanded modestly to $X in 2022. Over the period under review, imports showed a perceptible slump. The pace of growth appeared the most rapid in 2021 when imports increased by 69%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), South Korea (X tons) and Australia (X tons) were the main suppliers of zinc imports to Tanzania, together accounting for 93% of total imports. China and Luxembourg lagged somewhat behind, together accounting for a further 6.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +4.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Korea ($X) and Australia ($X) were the largest zinc suppliers to Tanzania, with a combined 96% share of total imports.

South Korea, with a CAGR of +11.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average zinc import price amounted to $X per ton, increasing by 28% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +63.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform