Ghana: Market for Iron Or Steel Anchors, Grapnels 2025

Market Size for Iron Or Steel Anchors, Grapnels in Ghana

The Ghanian metal anchors and grapnels market reached $X in 2022, surging by 6.8% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Iron Or Steel Anchors, Grapnels in Ghana

In value terms, metal anchors and grapnels production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 35%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Iron Or Steel Anchors, Grapnels

Exports from Ghana

After eight years of decline, shipments abroad of iron or steel anchors, grapnels increased by 4.3% to X units in 2022. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,774% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal anchors and grapnels exports surged to $X in 2022. Overall, exports saw a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 670% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X units) was the main destination for metal anchors and grapnels exports from Ghana, with a 98% share of total exports. It was followed by Cote d'Ivoire (X units), with a 1.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium stood at +71.7%.

In value terms, Belgium ($X) emerged as the key foreign market for iron or steel anchors, grapnels exports from Ghana, comprising 99% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium totaled +125.1%.

Export Prices by Country

The average metal anchors and grapnels export price stood at $X per unit in 2022, picking up by 34% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 166%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Cote d'Ivoire amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+31.2%).

Imports of Iron Or Steel Anchors, Grapnels

Imports into Ghana

In 2022, overseas purchases of iron or steel anchors, grapnels were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a pronounced curtailment. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, metal anchors and grapnels imports surged to $X in 2022. Overall, imports, however, saw a slight descent. The most prominent rate of growth was recorded in 2019 when imports increased by 391% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest metal anchors and grapnels supplier to Ghana, with a 78% share of total imports. Moreover, metal anchors and grapnels imports from Japan exceeded the figures recorded by the second-largest supplier, Belgium (X units), more than tenfold. China (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+20.4% per year) and China (-14.8% per year).

In value terms, Japan ($X) constituted the largest supplier of iron or steel anchors, grapnels to Ghana, comprising 77% of total imports. The second position in the ranking was taken by Norway ($X), with a 10% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +72.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+23.8% per year) and China (-1.9% per year).

Import Prices by Country

The average metal anchors and grapnels import price stood at $X per unit in 2022, falling by -2.5% against the previous year. Overall, the import price, however, saw a moderate increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 75% against the previous year. The import price peaked at $X per unit in 2021, and then dropped slightly in the following year.

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 Norway ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+40.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :