Ghana: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Ghana

After five years of growth, the Ghanian industrial sewing machines (non-automatic) market decreased by -3.8% to $X in 2022. Overall, consumption, however, posted a strong increase. Over the period under review, the market attained the peak level at $X in 2021, and then dropped slightly in the following year.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Ghana

In 2022, the amount of industrial sewing machines (non-automatic) exported from Ghana surged to X units, with an increase of 20% compared with the year before. Over the period under review, exports enjoyed a mild expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 680% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 7,881%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for industrial sewing machines (non-automatic) exports from Ghana, with a 50% share of total exports. Moreover, industrial sewing machines (non-automatic) exports to Cote d'Ivoire exceeded the volume sent to the second major destination, South Africa (X units), threefold. The third position in this ranking was held by Niger (X units), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire totaled +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Niger (-16.4% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for industrial sewing machines (non-automatic) exports from Ghana, comprising 67% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 33% share of total exports. It was followed by Niger, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire amounted to +75.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+14.9% per year) and Niger (-33.5% per year).

Export Prices by Country

In 2022, the average industrial sewing machines (non-automatic) export price amounted to $X per unit, jumping by 25% against the previous year. In general, the export price posted a significant expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 923% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to South Africa ($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 Nigeria (+58.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Ghana

In 2022, purchases abroad of industrial sewing machines (non-automatic) decreased by -0.1% to X units, falling for the second consecutive year after four years of growth. In general, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2020 with an increase of 58% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) imports reduced to $X in 2022. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) was the main industrial sewing machines (non-automatic) supplier to Ghana, accounting for a 95% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 3.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +11.2%.

In value terms, China ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Ghana, comprising 90% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 6.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +10.8%.

Import Prices by Country

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, shrinking by -6.2% against the previous year. Overall, the import price saw a pronounced downturn. The pace of growth was the most pronounced in 2013 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :