From 2013 to 2023, the import of grape wines and grape must into Angola showed a significant declining trend. The value peaked in 2013 but steadily decreased in subsequent years. This long-term decline was occasionally punctuated by minor recoveries, such as in 2017 and 2021, but these were not sustained. The average compound annual growth rate (CAGR) over the past 5 years (2018-2023) stands at -11.53%, underscoring the persistent downward trend.
In 2023, the import value was 33.101 million USD, reflecting a 13.44% decline from the previous year. This continued a pattern observed over the last two years, with a 12.06% decrease noted in 2022 compared to 2021. Looking ahead, the forecasted CAGR for the next 5 years (2024-2028) is -25.61%, pointing to a drastic reduction of approximately 77.22% in import value by 2028.
Future trends to watch for include:
- Fluctuations in global wine market prices and their impact on Angola's import capacity.
- Potential regulatory changes in Angola affecting wine import policies and tariffs.
- Macro-economic factors such as shifts in exchange rates and economic stability in Angola.
