Ghana: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Ghana

The Ghanian steel plaited band market contracted significantly to $X in 2022, dropping by -28.7% 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). Overall, consumption recorded a pronounced decrease. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Steel Plaited Band Exports

Exports from Ghana

In 2022, after two years of decline, there was significant growth in shipments abroad of iron or steel plaited bands and slings, when their volume increased by 299% to X tons. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 1,787% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, steel plaited band exports skyrocketed to $X in 2022. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 1,401% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons), the Netherlands (X tons) and Mali (X tons) were the main destinations of steel plaited band exports from Ghana, together accounting for 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +38.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Ghana, comprising 73% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 24% share of total exports. It was followed by Angola, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value to Burkina Faso totaled +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+33.9% per year) and Angola (-3.4% per year).

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a slight shrinkage. The pace of growth was the most pronounced in 2019 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into Ghana

In 2022, steel plaited band imports into Ghana declined significantly to X tons, with a decrease of -23.7% on the previous year's figure. Over the period under review, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 414%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, steel plaited band imports declined significantly to $X in 2022. Overall, imports recorded a perceptible setback. The pace of growth was the most pronounced in 2015 when imports increased by 595% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel plaited band to Ghana, accounting for a 53% share of total imports. Moreover, steel plaited band imports from China exceeded the figures recorded by the second-largest supplier, Togo (X tons), fourfold. The third position in this ranking was taken by Portugal (X tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (+114.7% per year) and Portugal (+81.8% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel plaited bands and slings to Ghana, comprising 29% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.2% share of total imports. It was followed by the UK, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+62.7% per year) and the UK (-10.5% per year).

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, waning by -9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 52%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :