Uganda: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Uganda

The Ugandan petroleum bitumen market skyrocketed to $X in 2023, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a perceptible descent. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Petroleum Bitumen Exports

Exports from Uganda

In 2023, shipments abroad of petroleum bitumen decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports showed a pronounced decrease. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, petroleum bitumen exports shrank modestly to $X in 2023. In general, exports, however, saw moderate growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons) was the main destination for petroleum bitumen exports from Uganda, accounting for a X% share of total exports. Moreover, petroleum bitumen exports to Tanzania exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), eightfold.

From 2012 to 2023, the average annual growth rate of volume to Tanzania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Rwanda (X% per year).

In value terms, the largest markets for petroleum bitumen exported from Uganda were Democratic Republic of the Congo ($X), Tanzania ($X) and Rwanda ($X).

Among the main countries of destination, Tanzania, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced mixed trend patterns.

Petroleum Bitumen Imports

Imports into Uganda

Petroleum bitumen imports into Uganda surged to X tons in 2023, jumping by X% compared with the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, petroleum bitumen imports surged to $X in 2023. Overall, imports, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Iran (X tons) and Kenya (X tons) were the main suppliers of petroleum bitumen imports to Uganda, together accounting for X% of total imports. Saudi Arabia, Singapore, Italy, Hungary and Poland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of petroleum bitumen to Uganda, comprising X% of total imports. The second position in the ranking was held by Iran ($X), with a X% share of total imports. It was followed by Saudi Arabia, with an X% share.

From 2012 to 2023, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the average petroleum bitumen import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, showed a perceptible decrease. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Kenya ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform