Report Update Nov 1, 2024

Ghana - Iron Ores - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Iron Ore Market 2021

Iron Ore Market Size in Ghana

In 2019, the Ghanian iron ore market increased by X% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption posted a perceptible increase. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Iron Ore Production in Ghana

In value terms, iron ore production rose modestly to $X in 2019 estimated in export prices. Overall, production recorded a noticeable contraction. Iron ore production peaked at $X in 2007; however, from 2008 to 2019, production failed to regain the momentum.

Iron Ore Exports

Exports from Ghana

In 2019, shipments abroad of iron ores increased by X% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. As a result, exports attained the peak of X tons. From 2012 to 2019, the growth exports remained at a lower figure.

In value terms, iron ore exports surged to $X in 2019. In general, exports recorded a deep slump. The growth pace was the most rapid in 2017 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2011; however, from 2012 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for iron ore exports from Ghana, with a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Burkina Faso was relatively modest.

From 2007 to 2019, the average annual growth rate of value to Burkina Faso was relatively modest.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, rising by X% against the previous year. Overall, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. The export price peaked at $X per ton in 2007; however, from 2008 to 2019, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Burkina Faso.

From 2007 to 2019, the rate of growth in terms of prices for Burkina Faso amounted to X% per year.

Iron Ore Imports

Imports into Ghana

In 2019, supplies from abroad of iron ores increased by X% to X tons for the first time since 2016, thus ending a two-year declining trend. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. As a result, imports reached the peak of X tons. From 2013 to 2019, the growth imports remained at a lower figure.

In value terms, iron ore imports totaled $X in 2019. Overall, imports saw a moderate expansion. The pace of growth appeared the most rapid in 2012 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2013 to 2019, the growth imports remained at a lower figure.

Imports by Country

The UK (X tons), Germany (X tons) and South Africa (X tons) were the main suppliers of iron ore imports to Ghana, together comprising X% of total imports. Saudi Arabia, Nigeria, India and Australia lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore suppliers to Ghana were South Africa ($X), Australia ($X) and Nigeria ($X), with a combined X% share of total imports. India, the UK, Germany and Saudi Arabia lagged somewhat behind, together accounting for a further X the main suppliers, Saudi Arabia (+X% per year) saw the highest growth rate of 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 iron ore import price stood at $X per ton in 2019, declining by -X% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2007; however, from 2008 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores in the world?

The country with the largest volume of iron ore consumption was China, accounting for 54% of total volume. Moreover, iron ore consumption in China exceeded the figures recorded by the second-largest consumer, India, eightfold. The third position in this ranking was occupied by Australia, with a 6.1% share.

What are the largest producers of iron ores in the world?

The countries with the highest volumes of iron ore production in 2019 were Australia, Brazil and China, together comprising 70% of global production.

What are the leading suppliers of iron ores to Ghana?

In value terms, South Africa, Australia and Nigeria $133) were the largest iron ore suppliers to Ghana, together comprising 96% of total imports. These countries were followed by India, the UK, Germany and Saudi Arabia, which together accounted for a further 4%.

What is the average export price for iron ores in Ghana?

In 2019, the average iron ore export price amounted to $337 per ton, jumping by 16% against the previous year.

What is the average import price for iron ores in Ghana?

In 2019, the average iron ore import price amounted to $681 per ton, dropping by -13.3% against the previous year.

This report provides an in-depth analysis of the iron ore market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.

Product coverage:

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023