Ghana: Industrial Diamonds Market 2022

Industrial Diamonds Market Size in Ghana

The Ghanian industrial diamonds market surged to $X in 2021, increasing by X% against the previous year. Overall, consumption saw a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Diamonds Production in Ghana

In value terms, industrial diamonds production totaled $X in 2021 estimated in export price. Overall, production saw a sharp downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Industrial Diamonds Exports

Exports from Ghana

In 2021, overseas shipments of industrial diamonds, dust and powder of precious or semi-precious stones decreased by -X% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial diamonds exports fell dramatically to $X in 2021. Overall, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Mexico (X tons) and Canada (X tons) were the main destinations of industrial diamonds exports from Ghana, with a combined X% share 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 Mexico (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) emerged as the key foreign market for industrial diamonds exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by the United States, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-X% per year) and the United States (+X% per year).

Export Prices by Country

In 2021, the average industrial diamonds export price amounted to $X per kg, rising by X% against the previous year. In general, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial diamonds export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per kg), while the average price for exports to Japan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced a decline.

Industrial Diamonds Imports

Imports into Ghana

Industrial diamonds imports into Ghana skyrocketed to X tons in 2021, jumping by X% compared with the year before. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, industrial diamonds imports soared to $X in 2021. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main supplier of industrial diamonds to Ghana, accounting for a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +X%.

In value terms, the United States ($X) constituted the largest supplier of industrial diamonds to Ghana.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +X%.

Import Prices by Country

The average industrial diamonds import price stood at $X per kg in 2021, shrinking by -X% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per kg. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +X% per year.

Source: IndexBox Platform

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