Ethiopia: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Ethiopia

In 2022, the Ethiopian market for iron or steel wire products increased by X% to $X, rising for the second year in a row after six years of decline. In general, consumption saw a strong increase. 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 Iron or Steel Wire Products

Exports from Ethiopia

In 2022, approx. X tons of iron or steel wire products were exported from Ethiopia; which is down by X% against the previous year's figure. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, iron or steel wire product exports soared to $X in 2022. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Jordan (X tons) was the main destination for iron or steel wire product exports from Ethiopia, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Jordan exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, picking up by X% against the previous year. In general, the export price enjoyed significant growth. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Germany ($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 Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Wire Products

Imports into Ethiopia

In 2022, supplies from abroad of iron or steel wire products increased by X% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel wire product imports surged to $X in 2022. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Austria (X tons) were the main suppliers of iron or steel wire product imports to Ethiopia, with a combined X% share of total imports. Kenya, Italy, South Africa, Turkey and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and India (X% per year).

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price showed a temperate increase. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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