Ghana: Twine Product Market 2024

Twine Product Market Size in Ghana

The Ghanian twine product market dropped to $X in 2022, shrinking by -13.7% against the previous year. In general, consumption, however, enjoyed a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Twine Product Production in Ghana

In value terms, twine product production fell to $X in 2022 estimated in export price. Over the period under review, production recorded resilient growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 128% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Twine Product Exports

Exports from Ghana

In 2022, shipments abroad of articles of twine, cordage, rope or cables decreased by -13.6% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports faced a sharp downturn. The pace of growth appeared the most rapid in 2013 with an increase of 147%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, twine product exports fell to $X in 2022. Overall, exports continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 283%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for twine product exports from Ghana, accounting for a 66% share of total exports. Moreover, twine product exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X kg), threefold. The third position in this ranking was held by Niger (X kg), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to -32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-13.6% per year) and Niger (-29.3% per year).

In value terms, Niger ($X) remains the key foreign market for articles of twine, cordage, rope or cables exports from Ghana, comprising 62% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 30% share of total exports. It was followed by Burkina Faso, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to Niger amounted to -8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-31.5% per year) and Burkina Faso (-30.3% per year).

Export Prices by Country

The average twine product export price stood at $X per ton in 2022, increasing by 8.2% against the previous year. Over the period under review, the export price posted a strong expansion. The growth pace was the most rapid in 2016 when the average export price increased by 84% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+163.8%), while the prices for the other major destinations experienced more modest paces of growth.

Twine Product Imports

Imports into Ghana

In 2022, after two years of growth, there was significant decline in supplies from abroad of articles of twine, cordage, rope or cables, when their volume decreased by -39.5% to X tons. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 407% against the previous year. Imports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, twine product imports declined remarkably to $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by 392% against the previous year. Imports peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine product to Ghana, with a 78% share of total imports. Moreover, twine product imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. Togo (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+54.8% per year) and Togo (+26.6% per year).

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Ghana, comprising 58% of total imports. The second position in the ranking was held by Spain ($X), with a 3.3% share of total imports. It was followed by Portugal, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+24.8% per year) and Portugal (+30.6% per year).

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, rising by 9.3% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The growth pace was the most rapid in 2013 when the average import price increased by 31%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+16.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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