Over the period from 2013 to 2016, the import of plastics and articles thereof to Angola showed a significant decline, with the values plummeting from $599.06 million to $329.93 million. This represented a steep year-on-year decrease, particularly in 2016 with a drop of -34.87%. The compound annual growth rate (CAGR) for this period was quite negative, indicating a sharp reduction in imports.
From 2017 to 2023, the trend exhibited fluctuations with periods of both recovery and decline. While there was a notable recovery with a 23.99% year-on-year increase in 2017, the figures continued to be volatile in subsequent years. By 2023, the import value stood at $431.24 million, showing a slight year-on-year decrease of -0.052%. The recent 5-year CAGR was -0.65%, suggesting a relatively flat but slightly declining trend overall.
Future forecasts from 2024 onwards predict a minor decline. The forecasted values stabilize around the mid-$420 million range, with a 5-year CAGR projection of -0.03% and a 5-year growth rate of -0.15%, indicating a minimal average annual decrease through 2028.
Future trends to watch for:
- Changes in global oil prices, which could affect the cost and availability of raw materials.
- Economic and political stability in Angola, influencing import capacity.
- Development and investment in local plastic manufacturing capabilities, potentially reducing import dependency.
- Environmental regulations and sustainability movements that may impact plastic consumption and import patterns.
