Ghana: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Ghana

The Ghanian market for granite, sandstone and other building stone totaled $X in 2020, approximately mirroring 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). In general, consumption saw a noticeable slump. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2020, consumption stood at a somewhat lower figure.

Exports of Granite, Sandstone And Other Building Stone

Exports from Ghana

In 2021, approx. X tons of granite, sandstone and other building stone were exported from Ghana; rising by 119% against 2020 figures. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,346%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of granite, sandstone and other building stone amounted to $X in 2021. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 2,444% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Cote d'Ivoire (X tons) and Belgium (X tons) were the main destinations of exports of granite, sandstone and other building stone from Ghana, together comprising 77% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +258.2%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for granite, sandstone and other building stone exports from Ghana, comprising 61% of total exports. The second position in the ranking was held by Belgium ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+131.6% per year) and the United States (+73.1% per year).

Export Prices by Country

In 2021, the average export price for granite, sandstone and other building stone amounted to $X per ton, declining by -53.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 227% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell notably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to the United States ($X per ton) 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 a decline.

Imports of Granite, Sandstone And Other Building Stone

Imports into Ghana

In 2021, after six years of growth, there was significant decline in supplies from abroad of granite, sandstone and other building stone, when their volume decreased by -6.4% to X tons. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 when imports increased by 196%. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, imports of granite, sandstone and other building stone dropped notably to $X in 2021. Overall, imports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 85% against the previous year. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest granite, sandstone and other building stone supplier to Ghana, accounting for a 28% share of total imports. Moreover, imports of granite, sandstone and other building stone from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Portugal (X tons) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.8% per year) and Portugal (-8.4% per year).

In value terms, China ($X) constituted the largest supplier of granite, sandstone and other building stone to Ghana, comprising 42% of total imports. The second position in the ranking was taken by India ($X), with a 5.6% share of total imports. It was followed by Spain, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.0% per year) and Spain (-11.4% per year).

Import Prices by Country

The average import price for granite, sandstone and other building stone stood at $X per ton in 2021, dropping by -17.7% against the previous year. Overall, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 85% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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