Ghana: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Ghana

The Ghanian electrical circuit apparatus market dropped to $X in 2021, waning by -6.9% 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). Over the period under review, consumption saw a mild slump. Electrical circuit apparatus consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Ghana

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection decreased by -47.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a significant increase. The growth pace was the most rapid in 2020 when exports increased by 289%. As a result, the exports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, electrical circuit apparatus exports declined rapidly to $X in 2021. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 106%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons), Burkina Faso (X tons) and Australia (X tons) were the main destinations of electrical circuit apparatus exports from Ghana, together comprising 78% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +204.5%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Australia ($X) and Cote d'Ivoire ($X) constituted the largest markets for electrical circuit apparatus exported from Ghana worldwide, together comprising 64% of total exports. These countries were followed by Senegal, South Africa, Togo and Burkina Faso, which together accounted for a further 22%.

In terms of the main countries of destination, Senegal, with a CAGR of +103.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, with an increase of 45% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Senegal ($X per ton), while the average price for exports to Burkina Faso ($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 Senegal (+39.9%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Circuit Apparatus Imports

Imports into Ghana

In 2021, the amount of electrical apparatus for circuit connection, switching and protection imported into Ghana reduced slightly to X tons, declining by -4.6% compared with the previous year. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 16%. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, electrical circuit apparatus imports dropped to $X in 2021. In general, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest electrical circuit apparatus supplier to Ghana, accounting for a 80% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was taken by the UK (X tons), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.0% per year) and the UK (-6.9% per year).

In value terms, China ($X) constituted the largest supplier of electrical circuit apparatus to Ghana, comprising 59% of total imports. The second position in the ranking was held by the UK ($X), with a 7.3% share of total imports. It was followed by the United Arab Emirates, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-8.4% per year) and the United Arab Emirates (+2.2% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, reducing by -3.9% against the previous year. Over the period under review, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2018 an increase of 6.4%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+17.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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