Ghana: Colloidal Precious Metals Market 2024

Colloidal Precious Metals Market Size in Ghana

In 2022, the Ghanian colloidal precious metals market increased by X% to $X, rising for the third consecutive year after seven years of decline. In general, consumption, however, saw a pronounced slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Colloidal Precious Metals Production in Ghana

In value terms, colloidal precious metals production rose to $X in 2022 estimated in export price. In general, production showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Colloidal precious metals production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Colloidal Precious Metals Exports

Exports from Ghana

In 2022, overseas shipments of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) increased by X% to X tons, rising for the fourth year in a row after five years of decline. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2019 with an increase of X,123%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, colloidal precious metals exports expanded notably to $X in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2019 with an increase of X,157% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for colloidal precious metals exports from Ghana, with a X% share of total exports. Moreover, colloidal precious metals exports to the United Arab Emirates exceeded the volume sent to the second major destination, Switzerland (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%.

In value terms, Switzerland ($X) and the United Arab Emirates ($X) were the largest markets for colloidal precious metals exported from Ghana worldwide.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average colloidal precious metals export price stood at $X per kg in 2022, growing by X% against the previous year. Overall, the export price, however, continues to indicate a precipitous descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the United Arab Emirates amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Colloidal Precious Metals Imports

Imports into Ghana

In 2022, approx. X kg of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) were imported into Ghana; shrinking by X% compared with 2021. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X kg. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, colloidal precious metals imports contracted to $X in 2022. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X kg) constituted the largest supplier of colloidal precious metals to Ghana, accounting for a X% share of total imports. Moreover, colloidal precious metals imports from South Africa exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold. The third position in this ranking was taken by Australia (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Australia (X% per year).

In value terms, South Africa ($X), Australia ($X) and the United States ($X) appeared to be the largest colloidal precious metals suppliers to Ghana, with a combined X% share of total imports.

Among the main suppliers, South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average colloidal precious metals import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price enjoyed prominent growth. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Australia ($X,500 per ton), while the price for South Africa ($X 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 States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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