Ethiopia: Power Tool Market 2024

Power Tool Market Size in Ethiopia

For the sixth consecutive year, the Ethiopian power tool market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption, however, posted measured growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Power Tool Exports

Exports from Ethiopia

In 2022, approx. X units of power tools were exported from Ethiopia; shrinking by X% on 2021. In general, exports showed a sharp setback. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, power tool exports shrank significantly to $X in 2022. Overall, exports faced a dramatic descent. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units) was the main destination for power tool exports from Ethiopia, with a X% share of total exports. Moreover, power tool exports to France exceeded the volume sent to the second major destination, Norway (X units), fourfold. Egypt (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Egypt (X% per year).

In value terms, the largest markets for power tool exported from Ethiopia were Norway ($X), France ($X) and Nigeria ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average power tool export price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Djibouti (X%), while the prices for the other major destinations experienced a decline.

Power Tool Imports

Imports into Ethiopia

In 2022, overseas purchases of power tools decreased by X% to X units, falling for the fifth consecutive year after two years of growth. Overall, imports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, power tool imports fell to $X in 2022. Over the period under review, imports, however, saw a measured increase. 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. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest power tool supplier to Ethiopia, with a X% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of power tools to Ethiopia, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

The average power tool import price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per unit) and Japan ($X per unit), while the price for Germany ($X per unit) and Romania ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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