Ghana: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Ghana

The Ghanian non-electronic hydro- and hygrometers market soared to $X in 2021, jumping by 58% 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 abrupt slump. Non-electronic hydro- and hygrometers consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Ghana

Non-electronic hydro- and hygrometers exports from Ghana skyrocketed to X units in 2021, surging by 114% on the previous year. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 480% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, non-electronic hydro- and hygrometers exports surged to $X in 2021. Over the period under review, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 284% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for non-electronic hydro- and hygrometers exports from Ghana, accounting for a 85% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to the United States exceeded the volume sent to the second major destination, Kenya (X units), tenfold. The Netherlands (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+37.8% per year) and the Netherlands (+26.0% per year).

In value terms, the United States ($X) remains the key foreign market for non-electronic hydro-, hygro-, psychrometers exports from Ghana, comprising 86% of total exports. The second position in the ranking was held by Kenya ($X), with a 6% share of total exports. It was followed by the Netherlands, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+39.6% per year) and the Netherlands (+18.4% per year).

Export Prices by Country

The average non-electronic hydro- and hygrometers export price stood at $X per unit in 2021, with a decrease of -31.4% against the previous year. Overall, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 82%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to South Africa ($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 Kenya (+0.0%), while the prices for the other major destinations experienced a decline.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Ghana

In 2021, imports of non-electronic hydro-, hygro-, psychrometers into Ghana skyrocketed to X units, picking up by 60% against the previous year. Over the period under review, imports, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 320% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, non-electronic hydro- and hygrometers imports soared to $X in 2021. In general, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 147%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-electronic hydro- and hygrometers to Ghana, with a 36% share of total imports. Moreover, non-electronic hydro- and hygrometers imports from China exceeded the figures recorded by the second-largest supplier, Greece (X units), threefold. The third position in this ranking was held by France (X units), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-2.4% per year) and France (-1.3% per year).

In value terms, Greece ($X) constituted the largest supplier of non-electronic hydro-, hygro-, psychrometers to Ghana, comprising 22% of total imports. The second position in the ranking was taken by the UK ($X), with a 9.9% share of total imports. It was followed by France, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Greece amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-5.2% per year) and France (-7.4% per year).

Import Prices by Country

The average non-electronic hydro- and hygrometers import price stood at $X per unit in 2021, approximately mirroring the previous year. Over the period under review, the import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 143%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per unit), while the price for Angola ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+50.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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