Ghana: Toy Market 2024

Toy Market Size in Ghana

The Ghanian toy market dropped to $X in 2021, shrinking by -11.6% against the previous year. Overall, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Toy Production in Ghana

In value terms, toy production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +18.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 85% against the previous year. Toy production peaked at $X in 2020, and then shrank in the following year.

Toy Exports

Exports from Ghana

In 2021, overseas shipments of dolls and toys increased by 5.9% to X tons, rising for the fourth year in a row after three years of decline. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 290%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, toy exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2014 with an increase of 343% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for toy exports from Ghana, accounting for a 23% share of total exports. Moreover, toy exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Germany (X tons), threefold. Burkina Faso (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+56.5% per year) and Burkina Faso (-6.5% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for dolls and toys exports from Ghana, comprising 7.3% of total exports. The second position in the ranking was taken by Germany ($X), with a 1.9% share of total exports. It was followed by Burkina Faso, with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire totaled +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+51.0% per year) and Burkina Faso (-8.8% per year).

Export Prices by Country

In 2021, the average toy export price amounted to $X per ton, picking up by 33% against the previous year. In general, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, toy export price increased by +75.8% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Toy Imports

Imports into Ghana

In 2021, approx. X tons of dolls and toys were imported into Ghana; increasing by 15% compared with the year before. Over the period under review, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 150%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, toy imports surged to $X in 2021. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 154% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of toy to Ghana, with a 81% share of total imports. It was followed by South Africa (X tons), with a 2.6% share of total imports. The United States (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+24.2% per year) and the United States (+0.2% per year).

In value terms, China ($X) constituted the largest supplier of dolls and toys to Ghana, comprising 60% of total imports. The second position in the ranking was taken by South Africa ($X), with a 1.4% share of total imports. It was followed by the United States, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+15.6% per year) and the United States (+4.5% per year).

Import Prices by Country

In 2021, the average toy import price amounted to $X per ton, increasing by 17% against the previous year. Over the period under review, the import price saw a resilient expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 65%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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