Ghana: Market for Industrial Automatic Sewing Machines 2024

Market Size for Industrial Automatic Sewing Machines in Ghana

The Ghanian industrial automatic sewing machine market shrank remarkably to $X in 2022, with a decrease of -25.6% 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). In general, consumption, however, enjoyed notable growth. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Industrial Automatic Sewing Machines

Exports from Ghana

In 2022, after two years of growth, there was significant decline in shipments abroad of industrial automatic sewing machines, when their volume decreased by -22.2% to X units. Over the period under review, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 250% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, industrial automatic sewing machine exports fell remarkably to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 3,673%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X units), South Africa (X units) and Burkina Faso (X units) were the main destinations of industrial automatic sewing machine exports from Ghana. Moreover, industrial automatic sewing machine exports in Cote d'Ivoire exceeded the figures recorded by the second-largest exporter, South Africa, twofold.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), South Africa ($X) and Burkina Faso ($X) appeared to be the largest markets for industrial automatic sewing machine exported from Ghana worldwide.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +30.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial automatic sewing machine export price stood at $X per unit in 2022, shrinking by -1.6% against the previous year. Overall, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 978%. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 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 South Africa ($X per unit), while the average price for exports to Burkina Faso ($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 Cote d'Ivoire (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Automatic Sewing Machines

Imports into Ghana

In 2022, the amount of industrial automatic sewing machines imported into Ghana fell markedly to X units, which is down by -27.1% against the year before. Over the period under review, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 617%. Imports peaked at X units in 2021, and then reduced dramatically in the following year.

In value terms, industrial automatic sewing machine imports dropped sharply to $X in 2022. Overall, imports, however, posted a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of 450% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of industrial automatic sewing machine to Ghana, with a 93% share of total imports. It was followed by Nigeria (X units), with a 2.6% share of total imports. South Africa (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+51.6% per year) and South Africa (+69.3% per year).

In value terms, China ($X) constituted the largest supplier of industrial automatic sewing machines to Ghana, comprising 91% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 3.8% share of total imports. It was followed by South Africa, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+44.1% per year) and South Africa (+76.1% per year).

Import Prices by Country

The average industrial automatic sewing machine import price stood at $X per unit in 2022, surging by 3.5% against the previous year. Overall, the import price, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2015 when the average import price increased by 49%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Nigeria ($X per unit) and South Africa ($X per unit), while the price for China ($X per unit) and the United Arab Emirates ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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