Ghana: Metal Washer Market 2025

Metal Washer Market Size in Ghana

The Ghanian metal washer market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a abrupt curtailment. Metal washer consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Metal Washer Exports

Exports from Ghana

In 2021, overseas shipments of iron or steel washers decreased by -72.1% to X kg, falling for the second year in a row after two years of growth. In general, exports, however, saw pronounced growth. The growth pace was the most rapid in 2016 with an increase of 775% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, metal washer exports contracted remarkably to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 757%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Mali (X kg) was the main destination for metal washer exports from Ghana, accounting for a 55% share of total exports. Moreover, metal washer exports to Mali exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), fourfold. Sweden (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Mali amounted to +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+19.6% per year) and Sweden (+22.8% per year).

In value terms, Mali ($X) remains the key foreign market for iron or steel washers exports from Ghana, comprising 48% of total exports. The second position in the ranking was held by South Africa ($X), with a 15% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Mali totaled +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+32.9% per year) and the Netherlands (-8.9% per year).

Export Prices by Country

The average metal washer export price stood at $X per ton in 2021, increasing by 19% against the previous year. Overall, the export price, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 46%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Washer Imports

Imports into Ghana

In 2021, overseas purchases of iron or steel washers were finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by 585%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, metal washer imports skyrocketed to $X in 2021. Overall, imports, however, showed a noticeable curtailment. The growth pace was the most rapid in 2017 with an increase of 503%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal washer to Ghana, with a 50% share of total imports. Moreover, metal washer imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), fourfold. The UK (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+24.8% per year) and the UK (+2.0% per year).

In value terms, China ($X), Belgium ($X) and the UK ($X) constituted the largest metal washer suppliers to Ghana, with a combined 67% share of total imports. These countries were followed by Canada, South Africa, the United States, India, the United Arab Emirates and Indonesia, which together accounted for a further 16%.

Among the main suppliers, Canada, with a CAGR of +51.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal washer import price stood at $X per ton in 2021, with an increase of 95% against the previous year. Overall, the import price posted a tangible increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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