Price for Safety Pins and Other Pins; of Iron or Steel in Tanzania - 2023

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

The average import price for safety pins and other pins; of iron or steels stood at $1,769 per ton in 2022, growing by 57% against the previous year. In general, the import price, however, showed a pronounced slump. Over the period under review, average import prices reached the maximum at $2,244 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($4,660 per ton), while the price for China ($912 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.0%), 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 Tanzania (FOB) - 2022

In 2022, the average export price for safety pins and other pins; of iron or steels amounted to $6,660 per ton, waning by -70.7% against the previous year. Overall, the export price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2014 an increase of 783%. Over the period under review, the average export prices reached the peak figure at $26,627 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Democratic Republic of the Congo.

From 2013 to 2022, the rate of growth in terms of prices for Democratic Republic of the Congo amounted to +19.9% per year.

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

In 2022, after three years of growth, there was significant decline in purchases abroad of safety pins and other pins; of iron or steels, when their volume decreased by -23.5% to 185 tons. In general, imports, however, showed significant growth. The growth pace was the most rapid in 2020 with an increase of 66%.

In value terms, imports of safety pins and other pins; of iron or steels soared to $328K in 2022. Over the period under review, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 98% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Safety Pins and Other Pins; of Iron or Steel in Tanzania (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	52.9	64.3	151	142	39.0%
Germany	0.9	0.1	0.7	16.8	165.3%
India	23.7	6.9	20.0	16.4	-11.5%
Australia	0.7	9.3	13.5	11.0	150.5%
United Arab Emirates	8.3	5.5	3.0	5.5	-12.8%
Others	57.3	52.2	84.8	136	33.4%
Total	144	138	273	328	31.6%

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

China (156.0 tons)
India (6.5 tons)
Australia (4.6 tons)
Germany (3.6 tons)
United Arab Emirates (1.8 tons)

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

Exports of safety pins and other pins; of iron or steels from Tanzania skyrocketed to 8 tons in 2022, picking up by 16,554% compared with the previous year's figure. Over the period under review, exports recorded a significant increase. 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 soared to $53K in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.