The import value of pocket and pen knives with folding blades to South Africa declined steadily from 2013 to 2016, followed by a fluctuating trend from 2017 to 2023. As of 2023, the import value stood at 3.6495 million USD. There were significant year-on-year decreases from 2013 to 2016, a period of recovery from 2017 to 2018, and smaller fluctuations from 2019 onward. The last two years showed modest growth, with changes of 0.67% and 0.66% respectively. The five-year CAGR from 2019 to 2023 was -0.22%, indicating an overall stagnation in recent years. Future projections suggest a stable and slight upward trend with a forecasted 5-year CAGR of 0.53% and a growth rate of 2.67%, with values reaching 3.7737 million USD by 2028.
Trends to watch for include:
- Changes in consumer demand for portable, multi-purpose tools, influenced by innovations and lifestyle shifts.
- Impact of currency fluctuations and import regulations on pricing and affordability.
- Potential shifts in supplier landscapes and trade agreements impacting import dynamics.
- Environmental and sustainability considerations driving material and design changes.