Ghana: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Ghana

The Ghanian liquefied petroleum gas (LPG) market skyrocketed to $X in 2022, growing by 22% 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, however, saw a abrupt downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Ghana

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported from Ghana; which is down by -24.1% compared with the previous year. Over the period under review, exports continue to indicate a mild shrinkage. The growth pace was the most rapid in 2019 with an increase of 137%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports fell notably to $X in 2022. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 113% 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

Benin (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Ghana, accounting for a 60% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to Benin exceeded the volume sent to the second major destination, the United States (X tons), twofold. Togo (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Benin amounted to +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+392.4% per year) and Togo (-17.3% per year).

In value terms, Benin ($X) emerged as the key foreign market for liquefied petroleum gas (LPG) exports from Ghana, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 23% share of total exports. It was followed by Togo, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin stood at +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+222.1% per year) and Togo (-21.0% per year).

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2022, picking up by 6.9% against the previous year. In general, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 30% against the previous year. The export price peaked 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to the United States ($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 Cote d'Ivoire (+3.2%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Ghana

Liquefied petroleum gas (LPG) imports into Ghana declined to X tons in 2022, with a decrease of -6% on 2021. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 53%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports fell to $X in 2022. Over the period under review, imports recorded a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 30% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main liquefied petroleum gas (LPG) supplier to Ghana, with a 99.9% share of total imports. It was followed by the UK (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +3.8%.

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Ghana, comprising 100% of total imports. The second position in the ranking was held by the UK ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +4.7%.

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2022, growing by 4.8% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liquefied petroleum gas (LPG) import price decreased by -5.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 100% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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 the UK ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+90.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform