Ghana: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Ghana

The Ghanian spectacle glass lenses market declined modestly to $X in 2022, waning by -4.9% against the previous year. In general, consumption showed a perceptible setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Production in Ghana

In value terms, spectacle glass lenses production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The growth pace was the most rapid in 2015 when the production volume increased by 23% against the previous year. Spectacle glass lenses production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from Ghana

In 2022, after ten years of growth, there was significant decline in shipments abroad of spectacle lenses of glass or other materials, when their volume decreased by -8.3% to X units. Overall, exports, however, posted significant growth. The pace of growth was the most pronounced in 2016 with an increase of 144% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted in the following year.

In value terms, spectacle glass lenses exports shrank slightly to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 221%. The exports peaked at $X in 2021, and then declined slightly in the following year.

Exports by Country

Togo (X units) was the main destination for spectacle glass lenses exports from Ghana, with a 527% share of total exports. Moreover, spectacle glass lenses exports to Togo exceeded the volume sent to the second major destination, Benin (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Togo stood at +96.5%.

In value terms, Togo ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Ghana, comprising 76% of total exports. The second position in the ranking was taken by Benin ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo amounted to +47.2%.

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, surging by 6.3% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 an increase of 31%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Benin ($X per unit), while the average price for exports to Togo stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-17.6%), while the prices for the other major destinations experienced a decline.

Spectacle Glass Lenses Imports

Imports into Ghana

In value terms, spectacle glass lenses imports dropped markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 2,446%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Ghana, with a 83% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The United Arab Emirates (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+44.4% per year) and the United Arab Emirates (-3.3% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Ghana, comprising 71% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +36.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+12.4% per year) and Taiwan (Chinese) (+22.7% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, jumping by 18% against the previous year. In general, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 82% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Canada ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+62.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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