Ghana: Nail And Bolt Market 2024

Nail And Bolt Market Size in Ghana

The Ghanian nail and bolt market stood at $X in 2021, leveling off at 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, showed a resilient increase. Nail and bolt consumption peaked in 2021 and is expected to retain growth in the near future.

Nail And Bolt Exports

Exports from Ghana

In 2021, overseas shipments of nails, tacks, staples, screws and bolts increased by 72% to X tons, rising for the third consecutive year after four years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 172% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, nail and bolt exports expanded modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2017 with an increase of 75% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Burkina Faso (X tons), Togo (X tons) and Liberia (X tons) were the main destinations of nail and bolt exports from Ghana, with a combined 89% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Liberia (with a CAGR of +79.8%), while the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Liberia ($X) and Togo ($X) appeared to be the largest markets for nail and bolt exported from Ghana worldwide, together accounting for 79% of total exports.

Among the main countries of destination, Liberia, with a CAGR of +45.0%, recorded the highest growth rate of the value of exports, 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 nail and bolt export price amounted to $X per ton, falling by -39.6% against the previous year. Over the period under review, the export price faced a deep contraction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 119%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Benin ($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 Burkina Faso (-0.7%), while the prices for the other major destinations experienced a decline.

Nail And Bolt Imports

Imports into Ghana

After four years of growth, overseas purchases of nails, tacks, staples, screws and bolts decreased by -24.3% to X tons in 2021. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 79% against the previous year. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, nail and bolt imports skyrocketed to $X in 2021. Overall, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 64% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest nail and bolt supplier to Ghana, accounting for a 82% share of total imports. Moreover, nail and bolt imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was taken by Australia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+15.4% per year) and Australia (+28.7% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, staples, screws and bolts to Ghana, comprising 73% of total imports. The second position in the ranking was held by Australia ($X), with a 4.4% share of total imports. It was followed by India, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+17.9% per year) and India (+12.7% per year).

Import Prices by Country

The average nail and bolt import price stood at $X per ton in 2021, growing by 55% against the previous year. Overall, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 63%. The import price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for the United Arab Emirates ($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 (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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