Ghana: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Ghana

The Ghanian metal office furniture market reached $X in 2022, growing by 2.9% 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 recorded buoyant growth. Metal office furniture consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Metal Office Furniture Exports

Exports from Ghana

In 2022, the amount of metal office furniture exported from Ghana fell modestly to X tons, shrinking by -2.5% compared with the year before. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 3,012% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal office furniture exports declined remarkably to $X in 2022. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 1,579% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X kg), the United States (X kg) and Senegal (X kg) were the main destinations of metal office furniture exports from Ghana, with a combined 50% share of total exports. Egypt, Niger, Sierra Leone, South Africa and Germany lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +63.3%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the key foreign market for metal office furniture exports from Ghana, comprising 52% of total exports. The second position in the ranking was taken by Egypt ($X), with an 8.7% share of total exports. It was followed by Senegal, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa stood at +139.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+48.6% per year) and Senegal (+20.5% per year).

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, declining by -27.7% against the previous year. Over the period under review, the export price, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2019 an increase of 127%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then fell significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Niger ($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 Central African Republic (+65.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Ghana

In 2022, metal office furniture imports into Ghana rose markedly to X tons, surging by 8.2% compared with the year before. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 514% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports reduced modestly to $X in 2022. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2020 when imports increased by 480% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to Ghana, accounting for a 65% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by Oman (X tons), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.0% per year) and Oman (+16.2% per year).

In value terms, China ($X) constituted the largest supplier of metal office furniture to Ghana, comprising 65% of total imports. The second position in the ranking was held by Spain ($X), with a 4.8% share of total imports. It was followed by the UK, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+37.5% per year) and the UK (+20.1% per year).

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, with a decrease of -7.9% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture import price increased by +17.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 77% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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