Ghana: Gin And Geneva Market 2024

Gin And Geneva Market Size in Ghana

After three years of growth, the Ghanian gin and geneva market decreased by -29.5% to $X in 2022. Over the period under review, consumption, however, showed a resilient expansion. As a result, consumption attained the peak level of $X, and then fell rapidly in the following year.

Gin And Geneva Production in Ghana

In value terms, gin and geneva production reduced sharply to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 126%. Gin and geneva production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gin And Geneva Exports

Exports from Ghana

After two years of decline, shipments abroad of gin and geneva increased by 74% to X litres in 2022. Overall, exports, however, continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2016 with an increase of 286% against the previous year. Over the period under review, the exports reached the maximum at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, gin and geneva exports soared to $X in 2022. Over the period under review, exports, however, saw a precipitous decline. The most prominent rate of growth was recorded in 2016 with an increase of 193% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X litres), Togo (X litres) and Burkina Faso (X litres) were the main destinations of gin and geneva exports from Ghana, together comprising 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of -1.5%), while shipments for the other leaders experienced a decline.

In value terms, Nigeria ($X) remains the key foreign market for gin and geneva exports from Ghana, comprising 64% of total exports. The second position in the ranking was held by Togo ($X), with a 24% share of total exports. It was followed by Sierra Leone, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value to Nigeria amounted to -47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (-33.2% per year) and Sierra Leone (-25.1% per year).

Export Prices by Country

The average gin and geneva export price stood at $X per litre in 2022, falling by -2.7% against the previous year. Over the period under review, the export price faced a dramatic descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per litre in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per litre), while the average price for exports to Burkina Faso ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+12.5%), while the prices for the other major destinations experienced mixed trend patterns.

Gin And Geneva Imports

Imports into Ghana

After two years of growth, purchases abroad of gin and geneva decreased by -2.9% to X litres in 2022. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 324%. Over the period under review, imports attained the peak figure at X litres in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, gin and geneva imports shrank to $X in 2022. In general, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 176% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X litres) constituted the largest supplier of gin and geneva to Ghana, with a 66% share of total imports. Moreover, gin and geneva imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X litres), fourfold. The third position in this ranking was taken by Cameroon (X litres), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +64.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+26.1% per year) and Cameroon (+10.5% per year).

In value terms, Belgium ($X), the Netherlands ($X) and South Africa ($X) were the largest gin and geneva suppliers to Ghana, with a combined 81% share of total imports.

South Africa, with a CAGR of +67.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gin and geneva import price stood at $X per litre in 2022, growing by 2.6% against the previous year. In general, the import price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 37% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 South Africa ($X per litre), while the price for Cameroon ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+18.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :