Ghana: Safes And Strongboxes Market 2025

Safes And Strongboxes Market Size in Ghana

In 2021, the Ghanian safes and strongboxes market increased by 46% to $X, rising for the second year in a row after three years of decline. Overall, consumption continues to indicate a strong increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Safes And Strongboxes Exports

Exports from Ghana

In 2021, approx. X kg of safes, strongboxes and doors of base metal were exported from Ghana; which is down by -73.5% against 2020 figures. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 2,362% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, safes and strongboxes exports dropped significantly to $X in 2021. Overall, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2014 with an increase of 3,174%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for safes and strongboxes exports from Ghana, with a 61% share of total exports. Moreover, safes and strongboxes exports to Burkina Faso exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), fourfold. Mali (X kg) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso totaled -12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-1.9% per year) and Mali (-17.5% per year).

In value terms, the largest markets for safes and strongboxes exported from Ghana were Burkina Faso ($X), Mali ($X) and Cote d'Ivoire ($X), with a combined 93% share of total exports.

Among the main countries of destination, Mali, with a CAGR of -14.0%, 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 safes and strongboxes export price stood at $X per ton in 2021, shrinking by -36.7% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 an increase of 74%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Angola ($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 Mali (+4.1%), while the prices for the other major destinations experienced a decline.

Safes And Strongboxes Imports

Imports into Ghana

In 2021, overseas purchases of safes, strongboxes and doors of base metal increased by 6% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 171% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, safes and strongboxes imports skyrocketed to $X in 2021. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 222% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest safes and strongboxes supplier to Ghana, accounting for a 26% share of total imports. Moreover, safes and strongboxes imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.3% per year) and Thailand (-2.8% per year).

In value terms, China ($X), Italy ($X) and the United Arab Emirates ($X) appeared to be the largest safes and strongboxes suppliers to Ghana, together comprising 52% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +39.7%, saw 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 2021, the average safes and strongboxes import price amounted to $X per ton, surging by 57% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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