Cameroon: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Cameroon

After two years of growth, the Cameroonian market for iron or steel wire products decreased by X% to $X in 2022. Overall, consumption, however, continues to indicate resilient growth. Over the period under review, the market attained the peak level at $X in 2021, and then contracted markedly in the following year.

Exports of Iron or Steel Wire Products

Exports from Cameroon

After four years of growth, overseas shipments of iron or steel wire products decreased by X% to X tons in 2022. Overall, exports, however, showed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell rapidly in the following year.

In value terms, iron or steel wire product exports shrank notably to $X in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for iron or steel wire product exports from Cameroon, accounting for a X% share of total exports. It was followed by the United States (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Central African Republic (X% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for iron or steel wire products exports from Cameroon, comprising X% of total exports. The second position in the ranking was taken by Central African Republic ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Central African Republic (X% per year) and the United States (X% per year).

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Central African Republic ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Singapore (X%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Wire Products

Imports into Cameroon

After two years of growth, purchases abroad of iron or steel wire products decreased by X% to X tons in 2022. In general, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank rapidly in the following year.

In value terms, iron or steel wire product imports fell significantly to $X in 2022. Overall, imports, however, recorded prominent growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest iron or steel wire product supplier to Cameroon, with a X% share of total imports. Moreover, iron or steel wire product imports from Poland exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Poland ($X) constituted the largest supplier of iron or steel wire products to Cameroon, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

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

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 the UK ($X per ton), while the price for China ($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 mixed trend patterns.

Source: IndexBox Platform

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