In 2024, the import value of leather clothing accessories to Angola is forecasted to be 1.5246 million USD. This figure marks the beginning of a downward trend observed over the next five years. By 2025, the value is expected to decline by approximately 9.52% to 1.3796 million USD. Further reductions are expected, with the import value dipping to 1.2375 million USD in 2026 (10.3% decrease from 2025), 1.0982 million USD in 2027 (11.25% decrease from 2026), and finally 0.96166 million USD in 2028 (12.43% decrease from 2027). Overall, the Compound Annual Growth Rate (CAGR) from 2024 to 2028 displays an average annual decrease of approximately 10.3%. The value in 2023 stood at 1.693 million USD, indicating a continued declining trend initiated pre-2024.
Future trends to watch for:
- Fluctuations in Angola's economic stability, which may impact purchasing power and import demand.
- Potential trade policies or tariff changes that could either hinder or facilitate imports.
- Global leather industry trends and evolving fashion preferences impacting demand.
- Currency exchange rates between the US dollar and Angolan Kwanza, influencing import costs.
- Sustainable and ethical fashion movements that might alter consumer behavior towards leather products.