The import of iron or steel tableware and kitchenware to South Africa has experienced fluctuations over the years. The trend from 2013 to 2023 shows periods of decline and recovery. Notably, imports dropped significantly from 2013 to 2017, followed by a resurgence in 2018. The years 2019 and 2020 again saw declines, but 2021 marked a significant recovery, followed by marginal gains in 2022 and 2023.
Key highlights:
- 2013: -9.52% year-on-year variation
- 2014: -10.87% year-on-year variation
- 2015 to 2017: Continued decline in imports
- 2018: A rebound marked by a 26.23% increase
- 2019 to 2020: Declines of 4.27% and 15.7%, respectively
- 2021: A strong recovery with a 22.3% increase
- 2022 and 2023: Modest increases of 1.46% and 1.41%, respectively
The Compound Annual Growth Rate (CAGR) over the last five years has varied, with the latest data showing a CAGR of 0.3% for the period ending in 2023. Looking ahead, imports are forecasted to grow at an average of 1.1% annually from 2024 to 2028, resulting in an overall growth rate of 5.64% over these five years.
Future trends to watch for include potential market shifts due to economic conditions, changes in consumer preferences, and trade policies that could impact import dynamics. Monitoring these factors can provide further insights into the sustainability of the projected growth.