Ghana: Plastic Furniture Market 2024

Plastic Furniture Market Size in Ghana

The Ghanian plastic furniture market soared to $X in 2021, jumping by 19% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Plastic furniture consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Plastic Furniture Production in Ghana

In value terms, plastic furniture production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production recorded a mild decline. The pace of growth was the most pronounced in 2015 with an increase of 15% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Plastic Furniture Exports

Exports from Ghana

For the fourth consecutive year, Ghana recorded decline in shipments abroad of furniture of plastic, which decreased by -36.2% to X units in 2021. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 966%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic furniture exports shrank notably to $X in 2021. Overall, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 789% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X units) was the main destination for plastic furniture exports from Ghana, with a 41% share of total exports. Moreover, plastic furniture exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X units), twofold. The third position in this ranking was held by Benin (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Togo amounted to -20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-4.6% per year) and Benin (+28.8% per year).

In value terms, the largest markets for plastic furniture exported from Ghana were Togo ($X), Benin ($X) and Cote d'Ivoire ($X), together accounting for 70% of total exports. Burkina Faso, Niger, Guinea and Mali lagged somewhat behind, together accounting for a further 20%.

In terms of the main countries of destination, Guinea, with a CAGR of +58.2%, saw 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

The average plastic furniture export price stood at $X per unit in 2021, increasing by 2.9% against the previous year. Over the period under review, the export price, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Benin ($X per unit), while the average price for exports to Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into Ghana

After three years of decline, purchases abroad of furniture of plastic increased by 27% to X units in 2021. Over the period under review, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 115%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, plastic furniture imports expanded significantly to $X in 2021. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 90% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of plastic furniture to Ghana, with a 75% share of total imports. Moreover, plastic furniture imports from China exceeded the figures recorded by the second-largest supplier, Uganda (X units), more than tenfold. The third position in this ranking was held by Cote d'Ivoire (X units), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Uganda (+179.7% per year) and Cote d'Ivoire (+45.9% per year).

In value terms, China ($X) constituted the largest supplier of plastic furniture to Ghana, comprising 86% of total imports. The second position in the ranking was held by Uganda ($X), with a 3.5% share of total imports. It was followed by the UK, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Uganda (+160.0% per year) and the UK (+4.2% per year).

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2021, which is down by -14.7% against the previous year. In general, the import price, however, saw a prominent increase. The growth pace was the most rapid in 2014 an increase of 61% against the previous year. The import price peaked at $X per unit in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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