Tanzania: Lock And Key Market 2024

Lock And Key Market Size in Tanzania

The Tanzanian lock and key market skyrocketed to $X in 2023, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Exports

Exports from Tanzania

In 2023, shipments abroad of padlocks, locks and keys of base metal decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, lock and key exports plummeted to $X in 2023. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for lock and key exports from Tanzania, with a X% share of total exports. Moreover, lock and key exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Comoros (X tons), threefold. The third position in this ranking was taken by Zambia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Democratic Republic of the Congo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Comoros (X% per year) and Zambia (X% per year).

In value terms, the largest markets for lock and key exported from Tanzania were Democratic Republic of the Congo ($X), Uganda ($X) and Zambia ($X), with a combined X% share of total exports.

Uganda, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average lock and key export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, faced a sharp shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to Comoros ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Tanzania

Lock and key imports into Tanzania surged to X tons in 2023, jumping by X% compared with the previous year. In general, imports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in years to come.

In value terms, lock and key imports skyrocketed to $X in 2023. Over the period under review, total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the near future.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of lock and key to Tanzania, with a X% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Tanzania, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Finland, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Finland (X% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price recorded a pronounced setback. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform