Ghana: Market for Machine Tools For Working Metal Without Removing Metal 2025

Market Size for Machine Tools For Working Metal Without Removing Metal in Ghana

The Ghanian machine tool for metal market skyrocketed to $X in 2021, jumping by 28% 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). In general, consumption, however, saw a sharp shrinkage. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Ghana

For the seventh year in a row, Ghana recorded growth in shipments abroad of machine tools for working metal without removing metal, which increased by 136% to X units in 2021. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 600% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, machine tool for metal exports amounted to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 583%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Cote d'Ivoire (X units), Nigeria (X units) and Mali (X units) were the main destinations of machine tool for metal exports from Ghana, together comprising 97% of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +191.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Cote d'Ivoire ($X) and Nigeria ($X) were the largest markets for machine tool for metal exported from Ghana worldwide, together accounting for 93% of total exports.

Burkina Faso, with a CAGR of +117.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, dropping by -57.9% against the previous year. Overall, the export price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 259%. The export price peaked at $X per unit in 2020, and then fell significantly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+66.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Ghana

Machine tool for metal imports into Ghana amounted to X units in 2021, picking up by 6.3% against the previous year's figure. Over the period under review, imports, however, faced a sharp downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 1,140%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, machine tool for metal imports soared to $X in 2021. Overall, imports, however, faced a precipitous shrinkage. The growth pace was the most rapid in 2018 with an increase of 711%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X units) constituted the largest machine tool for metal supplier to Ghana, with a 78% share of total imports. Moreover, machine tool for metal imports from Canada exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.4% per year) and China (-45.4% per year).

In value terms, Canada ($X) constituted the largest supplier of machine tools for working metal without removing metal to Ghana, comprising 64% of total imports. The second position in the ranking was taken by Italy ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.8% per year) and China (-48.9% per year).

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, jumping by 88% against the previous year. In general, the import price recorded a noticeable expansion. The most prominent rate of growth was recorded in 2013 an increase of 119% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+107.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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