The import of sugar confectionery to Angola has shown a significant downward trend since 2013. The value dropped sharply from $69.839 million in 2013 to $14.592 million in 2023, representing a decline of approximately 79%. Notably, year-on-year variations indicate a substantial decrease almost every year, with temporary upticks in 2017 (85.69%) and 2021 (9.91%). Over the last five years ending in 2023, the Compound Annual Growth Rate (CAGR) was -8.93%, indicating an average annual decline.
Forecasted data from 2024 to 2028 project a continued decrease in imports, culminating in a value of $5.9354 million by 2028. This suggests a forecasted 5-year CAGR of -14.21%, with an overall decrease of 53.53% during this period. Based on these trends, Angola's import of sugar confectionery is expected to keep declining.
Future trends to watch for include potential changes in domestic production capabilities, evolving consumer preferences, or governmental policies that might affect import levels. Moreover, impacting factors such as global market dynamics and economic conditions could either exacerbate or mitigate the projected downtrend.
