Ghana: Spades And Shovels Market 2025

Spades And Shovels Market Size in Ghana

For the fifth year in a row, the Ghanian spades and shovels market recorded growth in sales value, which increased by 2.5% to $X in 2021. Over the period under review, consumption, however, recorded a remarkable increase. Spades and shovels consumption peaked in 2021 and is expected to retain growth in the near future.

Spades And Shovels Exports

Exports from Ghana

In 2021, overseas shipments of spades and shovels decreased by -19.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of 68% 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 somewhat lower figure.

In value terms, spades and shovels exports reached $X in 2021. Overall, exports showed a pronounced reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for spades and shovels exports from Ghana, accounting for a 85% share of total exports. Moreover, spades and shovels exports to Burkina Faso exceeded the volume sent to the second major destination, Togo (X tons), eightfold. The third position in this ranking was taken by Cote d'Ivoire (X kg), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+19.7% per year) and Cote d'Ivoire (+17.8% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for spades and shovels exports from Ghana, comprising 84% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8.8% share of total exports. It was followed by Togo, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Burkina Faso stood at +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+24.4% per year) and Togo (+32.0% per year).

Export Prices by Country

The average spades and shovels export price stood at $X per ton in 2021, growing by 25% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 65%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Liberia ($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 Burkina Faso (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Ghana

In 2021, after four years of growth, there was significant decline in overseas purchases of spades and shovels, when their volume decreased by -28.1% to X tons. Overall, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 356%. Imports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, spades and shovels imports skyrocketed to $X in 2021. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 363% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of spades and shovels to Ghana, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +5.1%.

In value terms, China ($X) constituted the largest supplier of spades and shovels to Ghana.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +15.6%.

Import Prices by Country

In 2021, the average spades and shovels import price amounted to $X per ton, surging by 60% against the previous year. Over the period under review, the import price posted a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +9.9% per year.

Source: IndexBox Platform

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