Ghana: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in Ghana

In 2022, after four years of growth, there was significant decline in the Ghanian glass rear-view vehicle mirror market, when its value decreased by -7.3% to $X. In general, consumption, however, posted a strong increase. Glass rear-view vehicle mirror consumption peaked at $X in 2021, and then fell in the following year.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Ghana

In 2022, the amount of glass rear-view mirrors for vehicles exported from Ghana soared to X units, with an increase of 1,825% compared with 2021 figures. Over the period under review, exports, however, saw a sharp reduction. Over the period under review, the exports attained the maximum at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, glass rear-view vehicle mirror exports shrank to $X in 2022. In general, exports recorded a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 29,680%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) was the main destination for glass rear-view vehicle mirror exports from Ghana, with a approx. 88% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire stood at +12.1%.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Ghana, comprising 14% of total exports. The second position in the ranking was held by South Africa ($X), with a 0.6% share of total exports. It was followed by Benin, with a 0.1% share.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire stood at +22.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+1.0% per year) and Benin (-42.1% per year).

Export Prices by Country

The average glass rear-view vehicle mirror export price stood at $X per unit in 2021, declining by -4.6% against the previous year. Overall, the export price showed a noticeable shrinkage. Over the period under review, the average export prices attained the maximum at $X per unit in 2020, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Benin ($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 Cote d'Ivoire (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Ghana

In 2022, purchases abroad of glass rear-view mirrors for vehicles decreased by -5.6% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 337%. Over the period under review, imports reached the peak figure at X units in 2021, and then contracted in the following year.

In value terms, glass rear-view vehicle mirror imports contracted to $X in 2022. Overall, imports, however, showed a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 274% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of glass rear-view vehicle mirror to Ghana, with a 266% share of total imports. Moreover, glass rear-view vehicle mirror imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-0.8% per year) and South Korea (-11.1% per year).

In value terms, China ($X) constituted the largest supplier of glass rear-view mirrors for vehicles to Ghana, comprising 54% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5% share of total imports. It was followed by the United Arab Emirates, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+11.1% per year) and the United Arab Emirates (-19.4% per year).

Import Prices by Country

The average glass rear-view vehicle mirror import price stood at $X per unit in 2021, with an increase of 9.5% against the previous year. In general, the import price, however, faced a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 104% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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