Ghana: Pump For Liquid Market 2024

Pump For Liquid Market Size in Ghana

The Ghanian pump for liquid market expanded to $X in 2021, picking up by 4.7% 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). Overall, consumption continues to indicate a pronounced decrease. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Pump For Liquid Exports

Exports from Ghana

In 2021, the amount of pumps for liquids and liquid elevators exported from Ghana soared to X units, rising by 138% compared with 2020 figures. Over the period under review, exports, however, saw a drastic downturn. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pump for liquid exports contracted markedly to $X in 2021. Overall, exports, however, continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X units), Togo (X units) and Belgium (X units) were the main destinations of pump for liquid exports from Ghana, with a combined 84% share of total exports. These countries were followed by Burkina Faso, Cote d'Ivoire, Mozambique, the Netherlands and South Africa, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +382.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, South Africa ($X), Cote d'Ivoire ($X) and Nigeria ($X) were the largest markets for pump for liquid exported from Ghana worldwide, together comprising 26% of total exports. These countries were followed by Togo, the Netherlands, Burkina Faso, Belgium and Mozambique, which together accounted for a further 17%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average pump for liquid export price stood at $X per unit in 2021, declining by -68.5% against the previous year. Over the period under review, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 93% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Mozambique ($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 the Netherlands (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Pump For Liquid Imports

Imports into Ghana

In 2021, pump for liquid imports into Ghana fell sharply to X units, with a decrease of -25.4% on the previous year. Overall, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 when imports increased by 81%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, pump for liquid imports surged to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.2% against 2016 indices. The pace of growth appeared the most rapid in 2015 with an increase of 55%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of pump for liquid to Ghana, with a 56% share of total imports. Moreover, pump for liquid imports from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. The third position in this ranking was taken by Greece (X units), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-4.9% per year) and Greece (+42.4% per year).

In value terms, China ($X) constituted the largest supplier of pumps for liquids and liquid elevators to Ghana, comprising 38% of total imports. The second position in the ranking was taken by India ($X), with a 5.9% share of total imports. It was followed by South Africa, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+15.3% per year) and South Africa (-6.3% per year).

Import Prices by Country

In 2021, the average pump for liquid import price amounted to $X per unit, surging by 74% against the previous year. Overall, the import price continues to indicate a remarkable increase. The growth pace was the most rapid in 2020 an increase of 114%. The import price peaked in 2021 and is likely to continue 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 ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform