Ghana: Metal Chain Parts Market 2024

Metal Chain Parts Market Size in Ghana

After three years of decline, the Ghanian metal chain parts market increased by X% to $X in 2022. Over the period under review, consumption saw a abrupt descent. Metal chain parts consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Metal Chain Parts Exports

Exports from Ghana

In 2022, metal chain parts exports from Ghana expanded slightly to X tons, surging by X% against the previous year. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, metal chain parts exports surged to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons) was the main destination for metal chain parts exports from Ghana, with a X% share of total exports. Moreover, metal chain parts exports to Senegal exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Mali (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Senegal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Mali (X% per year).

In value terms, the largest markets for metal chain parts exported from Ghana were Norway ($X), the Netherlands ($X) and Nigeria ($X), together comprising X% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average metal chain parts export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Singapore ($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 the Netherlands (X%), while the prices for the other major destinations experienced a decline.

Metal Chain Parts Imports

Imports into Ghana

For the fourth consecutive year, Ghana recorded decline in overseas purchases of parts of chains of iron or steel, which decreased by X% to X tons in 2022. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain parts imports surged to $X in 2022. Over the period under review, imports faced a deep contraction. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) constituted the largest supplier of metal chain parts to Ghana, with a X% share of total imports. Moreover, metal chain parts imports from Nigeria exceeded the figures recorded by the second-largest supplier, South Africa (X tons), more than tenfold. Denmark (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Nigeria amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Denmark (X% per year).

In value terms, the largest metal chain parts suppliers to Ghana were South Africa ($X), Nigeria ($X) and Germany ($X), with a combined X% share of total imports. India, the United States, Denmark, the UK and France lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal chain parts import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 South Africa ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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