From 2013 to 2023, the import value of hand-held tools and parts to Angola has seen considerable fluctuations. Starting at 4.646 million USD in 2013, it dipped and peaked throughout the years, recording its lowest levels closer to 1.0865 million USD by 2021 and further declining to 0.91207 million USD in 2023—a notable decrease in value. The data up to 2023 represents the actual values whereas post-2023, figures are forecasted.
A year-on-year variation analysis shows significant declines and a few recoveries. Most notably, an 80.74% increase in 2016 was followed by a 54.59% decrease in 2017 and continuing fluctuations thereafter. The calculated CAGR over the last five years averaged at -0.81%, indicating a nearly stagnant market with minor overall contraction.
From 2024 onwards, the forecast suggests a continuous downward trend, projecting further declines through 2028, with a five-year CAGR of -10.82% and an anticipated total reduction of 43.59% in value by 2028, suggesting a challenging market outlook.
Future trends to watch for:
- Economic policies in Angola, which may impact import regulations and demand for hand tools.
- Recovery in oil prices and economic stability, potentially influencing industrial activities and tool imports.
- Technological advancements in hand tools that could alter import patterns.
- Infrastructural developments and investment influxes that could boost market demand.
