Price for Safety Pins and Other Pins; of Iron or Steel in Cameroon - 2022

Price for Safety Pins and Other Pins; of Iron or Steel in Cameroon (CIF) - 2022

In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $3,737 per ton, which is down by -41.6% against the previous year. In general, the import price, however, recorded a measured increase. The most prominent rate of growth was recorded in 2018 an increase of 66%. Over the period under review, average import prices hit record highs at $6,396 per ton in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($8,769 per ton), while the price for Japan ($2,250 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Safety Pins and Other Pins; of Iron or Steel in Cameroon (FOB) - 2022

In 2022, the average export price for safety pins and other pins; of iron or steels amounted to $10,385 per ton, approximately mirroring the previous year. In general, the export price, however, continues to indicate a modest expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 148%. As a result, the export price reached the peak level of $10,726 per ton. From 2018 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2013 to 2022, the rate of growth in terms of prices for Ghana amounted to -1.1% per year.

Imports of Safety Pins and Other Pins; of Iron or Steel in Cameroon

For the fourth year in a row, Cameroon recorded growth in supplies from abroad of safety pins and other pins; of iron or steels, which increased by 154% to 85 tons in 2022. Overall, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of safety pins and other pins; of iron or steels surged to $318K in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 64%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Safety Pins and Other Pins; of Iron or Steel in Cameroon (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	28.2	97.5	117	312	122.8%
United Arab Emirates	3.3	3.3	4.4	1.1	-30.7%
Lithuania	N/A	N/A	70.2	N/A	0%
Others	61.7	29.5	22.6	4.7	-57.6%
Total	93.2	130	214	318	50.5%

Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to Cameroon in 2022:

China (84.5 tons)
United Arab Emirates (0.3 tons)

Exports of Safety Pins and Other Pins; of Iron or Steel in Cameroon

In 2022, the amount of safety pins and other pins; of iron or steels exported from Cameroon rose significantly to 13 kg, picking up by 8.3% compared with 2021 figures. The total export volume increased at an average annual rate of +8.3% over the period from 2021 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of safety pins and other pins; of iron or steels rose rapidly to $135 in 2022. The total export value increased at an average annual rate of +7.1% over the period from 2021 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.