Angola: Binocular Market 2022

Binocular Market Size in Angola

In 2021, the Angolan binocular market increased by 42% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption continues to indicate tangible growth. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Binocular Exports

Exports from Angola

For the third year in a row, Angola recorded growth in overseas shipments of binoculars, which increased by 17% to X units in 2021. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 13,200%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, binocular exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 10,604%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Portugal (X units), South Africa (X units) and Denmark (X units) were the main destinations of binocular exports from Angola, with a combined 62% share of total exports.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +53.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the key foreign market for binocular exports from Angola, comprising 75% of total exports. The second position in the ranking was held by the UK ($X), with a 9.8% share of total exports. It was followed by France, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to South Africa stood at +161.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+68.3% per year) and France (+39.8% per year).

Export Prices by Country

In 2021, the average binocular export price amounted to $X per unit, growing by 2.7% against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 146%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per unit), while the average price for exports to Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+68.3%), while the prices for the other major destinations experienced more modest paces of growth.

Binocular Imports

Imports into Angola

In 2021, supplies from abroad of binoculars increased by 41% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, imports posted temperate growth. The most prominent rate of growth was recorded in 2014 when imports increased by 182% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, binocular imports surged to $X in 2021. Overall, imports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 138%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of binocular to Angola, with a 76% share of total imports. Moreover, binocular imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X units), ninefold. Spain (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+11.1% per year) and Spain (+5.9% per year).

In value terms, Russia ($X) constituted the largest supplier of binocular to Angola, comprising 98% of total imports. The second position in the ranking was held by South Africa ($X), with a 0.9% share of total imports. It was followed by Portugal, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia amounted to +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-26.8% per year) and Portugal (-14.8% per year).

Import Prices by Country

In 2021, the average binocular import price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2015 an increase of 278%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Russia ($X per unit), while the price for Spain (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+10.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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