Ghana: Construction Sands Market 2024

Construction Sands Market Size in Ghana

The Ghanian construction sands market skyrocketed to $X in 2022, with an increase of 4,494% 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). Overall, consumption, however, showed a abrupt decrease. Construction sands consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Construction Sands Exports

Exports from Ghana

In 2022, shipments abroad of construction sands decreased by -18.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2015 with an increase of 363%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, construction sands exports shrank notably to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 435%. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for construction sands exports from Ghana, with a 30% share of total exports. Moreover, construction sands exports to Cote d'Ivoire exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+29.0% per year) and Italy (+52.4% per year).

In value terms, the largest markets for construction sands exported from Ghana were China ($X), Italy ($X) and Cote d'Ivoire ($X), with a combined 60% share of total exports.

Cote d'Ivoire, with a CAGR of +61.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average construction sands export price stood at $X per ton in 2022, which is down by -4.1% against the previous year. In general, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 33%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Netherlands ($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 Cote d'Ivoire (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Construction Sands Imports

Imports into Ghana

In 2022, construction sands imports into Ghana soared to X tons, growing by 240% compared with the year before. Overall, imports, however, recorded a abrupt setback. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, construction sands imports soared to $X in 2022. Over the period under review, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 514%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of construction sands to Ghana, with a 88% share of total imports. Moreover, construction sands imports from Greece exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was taken by the Netherlands (X kg), with a 0.1% share.

From 2012 to 2022, the average annual growth rate of volume from Greece totaled -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+20.2% per year) and the Netherlands (-50.5% per year).

In value terms, Greece ($X) constituted the largest supplier of construction sands to Ghana, comprising 38% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Portugal, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Greece totaled -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.4% per year) and Portugal (-23.1% per year).

Import Prices by Country

In 2022, the average construction sands import price amounted to $X per ton, declining by -63.9% against the previous year. In general, the import price continues to indicate a mild descent. The pace of growth appeared the most rapid in 2021 an increase of 299% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced remarkably 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 Portugal ($X per ton), while the price for Greece ($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 (+48.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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