Based on the data provided, the import of copper tableware and kitchenware to Angola has experienced a significant decline from 2013 to 2023, with the value falling from $587.33K in 2013 to $108.04K in 2023. The year-on-year variations show a fluctuating pattern with significant drops in 2014 (-43.21%), 2016 (-33.68%), and more recently in 2022 (-13.12%) and 2023 (-14.79%). Over the last two years (2022-2023), the average annual decrease stands at -13.96%. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) is -10.98%, indicating a persistent downward trajectory.
Looking into the forecasted data from 2024 onwards, the import values are projected to continue their decline at an accelerated rate, with an estimated CAGR of -35.13% and an overall decrease of -88.51% by 2028. This suggests a steep reduction in import activity in the coming years.
Future trends to watch for include potential shifts in Angola’s domestic production capabilities, changes in trade policies or tariffs, and global market dynamics affecting the prices and demand for copper products. Additionally, economic factors such as inflation, exchange rates, and consumer purchasing power will play critical roles in shaping these trends.
