Angola: Base Metal Hook Market 2023

Base Metal Hook Market Size in Angola

In 2022, the Angolan base metal hook market increased by 5.1% to $X, rising for the second consecutive year after three years of decline. In general, consumption saw a relatively flat trend pattern. Base metal hook consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Angola

In 2022, after three years of decline, there was decline in overseas shipments of base metal hooks, eyes and eyelets, when their volume decreased by 0% to X kg. Overall, exports showed a abrupt setback. The growth pace was the most rapid in 2015 when exports increased by 491% against the previous year. As a result, the exports reached the peak of X kg. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, base metal hook exports reached $X in 2022. In general, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2015 when exports increased by 596% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Norway (X kg) was the main destination for base metal hook exports from Angola, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Norway amounted to -18.2%.

In value terms, Norway ($X) also remains the key foreign market for base metal hooks, eyes and eyelets exports from Angola.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway stood at -2.3%.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, picking up by 10% against the previous year. In general, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 87% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Norway.

From 2012 to 2022, the rate of growth in terms of prices for Norway amounted to +19.5% per year.

Base Metal Hook Imports

Imports into Angola

In 2022, purchases abroad of base metal hooks, eyes and eyelets increased by 45% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports showed a measured increase. The most prominent rate of growth was recorded in 2017 with an increase of 959% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, base metal hook imports contracted remarkably to $X in 2022. In general, imports, however, saw a perceptible contraction. The growth pace was the most rapid in 2017 when imports increased by 541%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of base metal hook to Angola, with a 96% share of total imports. It was followed by Portugal (X tons), with a 2.6% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.9%.

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to Angola, comprising 68% of total imports. The second position in the ranking was taken by Portugal ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +10.3%.

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2022, dropping by -52% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 16% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.7%).

Source: IndexBox Platform

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