Angola: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Angola

In 2022, the Angolan steel and iron articles market increased by X% to $X, rising for the second year in a row after six years of decline. In general, consumption, however, continues to indicate a drastic downturn. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Articles Of Iron Or Steel

Exports from Angola

After three years of growth, overseas shipments of articles of iron or steel decreased by X% to X tons in 2022. Over the period under review, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steel and iron articles exports declined significantly to $X in 2022. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), the UK (X tons) and Democratic Republic of the Congo (X tons) were the main destinations of steel and iron articles exports from Angola, together accounting for X% of total exports. Ghana, Senegal, Norway, the United States, Congo and Belgium lagged somewhat behind, together accounting for a further X%.

From 2015 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the UK ($X) and Ghana ($X) constituted the largest markets for steel and iron articles exported from Angola worldwide, together accounting for X% of total exports. Norway, Democratic Republic of the Congo, Senegal, Congo, the United States and Belgium lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Norway, with a CAGR of X%, 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

The average steel and iron articles export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Ghana ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Angola

In 2022, supplies from abroad of articles of iron or steel increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, steel and iron articles imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel and iron articles supplier to Angola, accounting for a X% share of total imports. Moreover, steel and iron articles imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by Portugal (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Portugal (X% per year).

In value terms, the UK ($X), Italy ($X) and the United States ($X) were the largest steel and iron articles suppliers to Angola, with a combined X% share of total imports. China, Portugal, Norway, France, South Africa, Indonesia, Malaysia, Turkey and Belgium lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, 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

In 2022, the average steel and iron articles import price amounted to $X per ton, declining by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined rapidly in the following year.

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

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

Source: IndexBox Platform

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