Analyzing the metals consumption data in Angola from 2013 to 2023, there is a distinctive downward trend with frequent fluctuations. The highest consumption level was observed in 2014 with a significant increase of 51.06% year-on-year, followed by a substantial decline in the subsequent years. From 2018 onwards, the consumption continues to decrease consistently, with a noticeable drop each year. By 2023, the consumption stood at 0.15 Units of Domestic Material Consumption, marking an 11.76% decrease from the previous year. The last five-year CAGR is -11.65%, suggesting a continuous average yearly decline in consumption.
Future trends to watch for include the impact of economic policies, infrastructure development, and diversification of industrial activities. Monitoring the global demand for metals and Angola's capacity to revive its domestic market will be crucial. Environmental regulations and sustainability initiatives may also influence future consumption patterns.
