Ghana: Golf Equipment Market 2024

Golf Equipment Market Size in Ghana

The Ghanian golf equipment market contracted remarkably to $X in 2022, falling by -17% 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). Over the period under review, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Exports

Exports from Ghana

In 2022, shipments abroad of golf clubs and other golf equipment decreased by -30.4% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a measured expansion. The growth pace was the most rapid in 2020 with an increase of 116% against the previous year. The exports peaked at X units in 2021, and then fell dramatically in the following year.

In value terms, golf equipment exports stood at $X in 2022. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 61% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for golf equipment exports from Ghana, with a 72% share of total exports. Moreover, golf equipment exports to the UK exceeded the volume sent to the second major destination, Uganda (X units), sixfold. The third position in this ranking was taken by South Africa (X units), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+3.7% per year) and South Africa (-4.3% per year).

In value terms, the UK ($X), Uganda ($X) and South Africa ($X) constituted the largest markets for golf equipment exported from Ghana worldwide, with a combined 87% share of total exports.

In terms of the main countries of destination, Uganda, with a CAGR of +36.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, jumping by 53% against the previous year. In general, the export price, however, saw a abrupt descent. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per unit), while the average price for exports to the UK ($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 France (+206.7%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Ghana

In 2022, imports of golf clubs and other golf equipment into Ghana dropped notably to X units, which is down by -30.1% on the previous year's figure. In general, imports continue to indicate a dramatic decrease. The pace of growth appeared the most rapid in 2021 with an increase of 122%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports expanded significantly to $X in 2022. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 73%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Ghana, accounting for a 43% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), fourfold. The third position in this ranking was held by the UK (X units), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-7.1% per year) and the UK (-32.2% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Ghana, comprising 24% of total imports. The second position in the ranking was taken by the UK ($X), with an 8% share of total imports. It was followed by South Africa, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-27.0% per year) and South Africa (-24.6% per year).

Import Prices by Country

The average golf equipment import price stood at $X per unit in 2022, surging by 58% against the previous year. Overall, the import price saw strong growth. The growth pace was the most rapid in 2020 an increase of 206%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average 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 South Africa ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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