The import of refrigerators and freezers to South Africa witnessed a steady decline from 2013 to 2016, with a slight recovery starting in 2017. After 2017, the imports showed some fluctuations but generally maintained a stable trend. In 2023, the import value stood at 233.78 million USD. The year-on-year growth rates for the last two years were minor, at 0.20% each year. Over the past five years, the compound annual growth rate (CAGR) was approximately 0.43%.
Looking ahead, imports are forecasted to experience marginal growth through 2028, with a 5-year CAGR of 0.16%, indicating a stable but slow increase in import values. Potential factors influencing this trend include advancements in local production capabilities, changes in consumer demand, and economic conditions impacting purchasing power.
