Ghana: Other Chemical Products Market 2024

Other Chemical Products Market Size in Ghana

In 2022, the Ghanian other chemical products market was finally on the rise to reach $X after four years of decline. Overall, consumption enjoyed a prominent expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Other Chemical Products Exports

Exports from Ghana

In 2022, after three years of decline, there was significant growth in overseas shipments of other chemical products, when their volume increased by 44% to X tons. Overall, exports, however, showed a precipitous decline. The growth pace was the most rapid in 2017 with an increase of 162% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, other chemical products exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a sharp curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 116% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for other chemical products exports from Ghana, accounting for a 82% share of total exports. Moreover, other chemical products exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Niger (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled -39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-25.3% per year) and Burkina Faso (-47.6% per year).

In value terms, Niger ($X) remains the key foreign market for other chemical products exports from Ghana, comprising 58% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Niger amounted to -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-45.8% per year) and Burkina Faso (-33.5% per year).

Export Prices by Country

In 2022, the average other chemical products export price amounted to $X per ton, waning by -8.3% against the previous year. In general, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2020 an increase of 85% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Burkina Faso ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Burkina Faso (+26.8%), while the prices for the other major destinations experienced mixed trend patterns.

Other Chemical Products Imports

Imports into Ghana

In 2022, purchases abroad of other chemical products increased by 1% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports saw a prominent expansion. The pace of growth was the most pronounced in 2017 when imports increased by 155% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, other chemical products imports stood at $X in 2022. Overall, imports posted a resilient increase. The growth pace was the most rapid in 2017 with an increase of 193%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest other chemical products supplier to Ghana, accounting for a 36% share of total imports. Moreover, other chemical products imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire stood at +60.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+20.5% per year) and China (+39.6% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of other chemical products to Ghana, comprising 41% of total imports. The second position in the ranking was taken by South Africa ($X), with a 13% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Cote d'Ivoire totaled +68.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+19.2% per year) and Thailand (+49.5% per year).

Import Prices by Country

In 2022, the average other chemical products import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2017 an increase of 15%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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