Ghana: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Ghana

After two years of growth, the Ghanian electrical musical instrument market decreased by X% to $X in 2022. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Electrical Musical Instrument Exports

Exports from Ghana

In 2022, approx. X units of electrical musical or keyboard instruments were exported from Ghana; with a decrease of X% against the previous year's figure. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, electrical musical instrument exports dropped notably to $X in 2022. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units), South Africa (X units) and Nigeria (X units) were the main destinations of electrical musical instrument exports from Ghana, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical musical instrument exported from Ghana were Cote d'Ivoire ($X), Burkina Faso ($X) and Nigeria ($X), with a combined X% share of total exports. Rwanda, Germany, Ethiopia, the United States, South Africa, the UK, Canada, Belgium, the Netherlands and Kenya lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Germany, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average electrical musical instrument export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 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 Cote d'Ivoire ($X per unit), while the average price for exports to Kenya ($X per unit) was amongst the lowest.

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

Electrical Musical Instrument Imports

Imports into Ghana

In 2022, overseas purchases of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a modest expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then shrank rapidly in the following year.

In value terms, electrical musical instrument imports declined to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units), China (X units) and South Korea (X units) were the main suppliers of electrical musical instrument imports to Ghana, together accounting for X% of total imports. Israel, the United States, Hong Kong SAR, Belgium, Australia, the UK and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of electrical musical or keyboard instruments to Ghana, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

The average electrical musical instrument import price stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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