Eritrea: Goat Meat Market 2020

Goat Meat Market Size in Eritrea

The revenue of the goat meat market in Eritrea amounted to $X in 2018, picking up by X% against the previous year. Over the period under review, the total market indicated conspicuous growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, goat meat consumption increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2014 when the market value increased by X% year-to-year. In that year, the goat meat market attained its peak level of $X. From 2015 to 2018, the growth of the goat meat market remained at a somewhat lower figure.

Goat Meat Production in Eritrea

In value terms, goat meat production stood at $X in 2018 estimated in export prices. Over the period under review, goat meat production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. In that year, goat meat production reached its peak level of $X. From 2015 to 2018, goat meat production growth failed to regain its momentum.

Goat Meat Exports

Exports by Country

Australia represented the major exporter of goat meat in the world, with the volume of exports recording X tons, which was near X% of total exports in 2018. Ethiopia (X tons) held a X% share (based on tons) of total exports, which put it in second place, followed by Kenya (X%) and China (X%). Spain (X tons), France (X tons), Tanzania (X tons), Sudan (X tons), Pakistan (X tons), Greece (X tons) and New Zealand (X tons) occupied a minor share of total exports.

Exports from Australia increased at an average annual rate of +X% from 2007 to 2018. At the same time, Spain (+X%), Sudan (+X%), Kenya (+X%), Greece (+X%), Ethiopia (+X%), New Zealand (+X%) and Tanzania (+X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. France experienced a relatively flat trend pattern. By contrast, Pakistan (-X%) and China (-X%) illustrated a downward trend over the same period. While the share of Australia (+X p.p.), Ethiopia (+X p.p.), Kenya (+X p.p.), Spain (+X p.p.) and Sudan (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Pakistan (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest goat meat supplier from Eritrea, comprising X% of global exports. The second position in the ranking was occupied by Ethiopia ($X), with a X% share of global exports. It was followed by China, with a X% share.

In Australia, goat meat exports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Ethiopia (+X% per year) and China (+X% per year).

Export Prices by Country

In 2018, the goat meat export price in Eritrea amounted to $X per ton, leveling off at the previous year. In general, the goat meat export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices for goat meat attained their maximum at $X per ton in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Goat Meat Imports

Imports into Eritrea

Goat meat imports into Eritrea amounted to X kg in 2018, dropping by -X% against the previous year. Overall, goat meat imports continue to indicate a dramatic deduction. The pace of growth appeared the most rapid in 2017 with a decrease of -X% against the previous year. Over the period under review, goat meat imports reached their peak figure at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, goat meat imports totaled $X in 2018. In general, goat meat imports continue to indicate a drastic setback. The most prominent rate of growth was recorded in 2008 with a decrease of -X% year-to-year. Eritrea imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, the U.S. (X tons) was the major importer of goat meat, achieving X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons), Taiwan, Chinese (X tons) and Canada (X tons), together mixing up a X% share of total imports. Portugal (X tons), South Korea (X tons), Saudi Arabia (X tons), China, Hong Kong SAR (X tons), Vietnam (X tons), Trinidad and Tobago (X tons) and Italy (X tons) took a relatively small share of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, South Korea (+X%), Vietnam (+X%), Portugal (+X%), Canada (+X%), the United Arab Emirates (+X%), Oman (+X%) and Trinidad and Tobago (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. China, Hong Kong SAR, Taiwan, Chinese and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Italy (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of the U.S., the United Arab Emirates, South Korea, Canada, Portugal, Oman and Vietnam increased by +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported goat meat into Eritrea, comprising X% of global imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of global imports. It was followed by China, Hong Kong SAR, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and China, Hong Kong SAR (+X% per year).

Import Prices by Country

The goat meat import price in Eritrea stood at $X per ton in 2018, going down by -X% against the previous year. In general, the goat meat import price, however, continues to indicate measured growth. The most prominent rate of growth was recorded in 2010 when the import price increased by X% y-o-y. Eritrea import price peaked at $X per ton in 2011; however, from 2012 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform