Ghana: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Ghana

In 2021, after seven years of decline, there was growth in the Ghanian gravel and crushed stone market, when its value increased by 0.1% to $X. In general, consumption, however, saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Gravel And Crushed Stone in Ghana

In value terms, gravel and crushed stone production amounted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 1.6% against the previous year. Gravel and crushed stone production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Gravel And Crushed Stone

Exports from Ghana

In 2021, shipments abroad of gravel and crushed stone decreased by -1.4% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 19,286%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, gravel and crushed stone exports surged to $X in 2021. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2015 when exports increased by 115,774% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for gravel and crushed stone exports from Ghana, accounting for a 100% share of total exports. It was followed by Burkina Faso (X tons), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Togo amounted to +99.8%.

In value terms, Togo ($X) remains the key foreign market for gravel and crushed stone exports from Ghana, comprising 99% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Togo totaled +75.6%.

Export Prices by Country

In 2021, the average gravel and crushed stone export price amounted to $X per ton, rising by 22% against the previous year. In general, the export price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2015 an increase of 498% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Togo amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+11.1%).

Imports of Gravel And Crushed Stone

Imports into Ghana

In 2021, overseas purchases of gravel and crushed stone increased by 260% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 307%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, gravel and crushed stone imports soared to $X in 2021. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 317%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest gravel and crushed stone supplier to Ghana, with a 49% share of total imports. Moreover, gravel and crushed stone imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by France (X tons), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +129.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+32.2% per year) and France (+89.6% per year).

In value terms, China ($X), Italy ($X) and Spain ($X) constituted the largest gravel and crushed stone suppliers to Ghana, together accounting for 51% of total imports.

China, with a CAGR of +81.6%, saw the highest growth rate of the value of imports, in terms of 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 gravel and crushed stone import price stood at $X per ton in 2021, reducing by -13.8% against the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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