Ghana: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Ghana

The Ghanian plastic ornamental articles market rose rapidly to $X in 2022, increasing by 7.2% 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). In general, consumption recorded a significant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Plastic Ornamental Articles Exports

Exports from Ghana

In 2022, exports of statuettes and other ornamental articles of plastic from Ghana was estimated at X tons, surging by 3.2% compared with the previous year's figure. Over the period under review, exports recorded pronounced growth. The pace of growth appeared the most rapid in 2016 when exports increased by 2,145%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports amounted to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 2,068% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for plastic ornamental articles exports from Ghana, accounting for a 69% share of total exports. Moreover, plastic ornamental articles exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X kg), sevenfold. The third position in this ranking was held by Nigeria (X kg), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+18.5% per year) and Nigeria (+8.2% per year).

In value terms, Switzerland ($X), Cote d'Ivoire ($X) and Denmark ($X) constituted the largest markets for plastic ornamental articles exported from Ghana worldwide, with a combined 58% share of total exports. Burkina Faso, Nigeria, France and the United States lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, Burkina Faso, with a CAGR of +33.2%, 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

In 2022, the average plastic ornamental articles export price amounted to $X per ton, declining by -2.3% against the previous year. Over the period under review, the export price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 64% against the previous year. The export price peaked at $X per ton 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Togo (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Ghana

In 2022, imports of statuettes and other ornamental articles of plastic into Ghana soared to X tons, picking up by 22% against 2021 figures. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,555%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic ornamental articles imports dropped to $X in 2022. Overall, imports recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by 3,708%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) was the main plastic ornamental articles supplier to Ghana, with a 90% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +66.4%.

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Ghana, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 4.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +81.0%.

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, dropping by -20.5% against the previous year. In general, the import price, however, continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 130% against the previous year. The import price peaked at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.8%).

Source: IndexBox Platform

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