Ghana: Spectacle Frame Market 2024

Spectacle Frame Market Size in Ghana

In 2022, after three years of growth, there was decline in the Ghanian spectacle frame market, when its value decreased by X% to $X. Over the period under review, consumption, however, recorded tangible growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Spectacle Frame Exports

Exports from Ghana

Spectacle frame exports from Ghana fell rapidly to X units in 2022, shrinking by X% compared with 2021 figures. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, spectacle frame exports contracted markedly to $X in 2022. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X units), Canada (X units) and Nigeria (X units) were the main destinations of spectacle frame 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 Nigeria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacle frame exported from Ghana were Togo ($X), Nigeria ($X) and Portugal ($X), together accounting for X% of total exports. Canada, Germany, South Africa and the United States lagged somewhat behind, together comprising a further X%.

Germany, with a CAGR of X%, saw the highest growth rate of 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 spectacle frame export price stood at $X per unit in 2022, jumping by X% against the previous year. Over the period under review, the export price posted moderate growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United States ($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.

Spectacle Frame Imports

Imports into Ghana

In 2022, purchases abroad of frames and mountings for spectacles, goggles or the like decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spectacle frame imports reduced modestly to $X in 2022. Over the period under review, imports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X units), India (X units) and South Africa (X units) were the main suppliers of spectacle frame imports to Ghana, together accounting for X% of total imports. China, Switzerland, the Netherlands, Hong Kong SAR, Italy, France, Singapore, the United Arab Emirates and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and the Netherlands ($X) appeared to be the largest spectacle frame suppliers to Ghana, together comprising X% of total imports. Italy, India, South Africa, the United Arab Emirates, Germany, France, Singapore, Hong Kong SAR and Switzerland lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spectacle frame import price amounted to $X per unit, surging by X% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle frame import price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Germany ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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