Ghana: Fishing Rod Market 2024

Fishing Rod Market Size in Ghana

The Ghanian fishing rod market shrank slightly to $X in 2021, declining by -4.7% 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). In general, consumption faced a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Fishing Rod Exports

Exports from Ghana

Fishing rod exports from Ghana rose sharply to X kg in 2021, growing by 12% against 2020 figures. Over the period under review, exports, however, saw a sharp downturn. The pace of growth appeared the most rapid in 2018 with an increase of 170% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fishing rod exports dropped sharply to $X in 2021. Overall, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 478% against the previous year. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for fishing rod exports from Ghana, with a 92% share of total exports. Moreover, fishing rod exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Mali (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire stood at -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+30.5% per year) and Burkina Faso (-52.4% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Ghana, comprising 90% of total exports. The second position in the ranking was taken by Mali ($X), with a 9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+33.5% per year) and Burkina Faso (-44.9% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, declining by -86.1% against the previous year. In general, the export price, however, recorded strong growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 410%. As a result, the export price attained the peak level of $X per ton, and then shrank markedly in the following year.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Mali ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Burkina Faso (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Ghana

In 2021, the amount of fishing rods and other line fishing tackle imported into Ghana fell remarkably to X tons, reducing by -15.5% on the previous year. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when imports increased by 217%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, fishing rod imports rose significantly to $X in 2021. Over the period under review, imports faced a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by 74%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fishing rod to Ghana, with a 58% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was held by South Korea (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.7% per year) and South Korea (-11.9% per year).

In value terms, Japan ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Ghana, comprising 44% of total imports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total imports. It was followed by China, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-14.8% per year) and China (-18.3% per year).

Import Prices by Country

The average fishing rod import price stood at $X per ton in 2021, with an increase of 27% against the previous year. In general, the import price showed measured growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 116% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Togo ($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 United States (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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