Ghana: Stranded Wire Market 2025

Stranded Wire Market Size in Ghana

After two years of growth, the Ghanian stranded wire market decreased by -6.9% to $X in 2021. In general, consumption, however, enjoyed mild growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Stranded Wire Exports

Exports from Ghana

In 2021, shipments abroad of stranded wire, ropes and cables decreased by -49.7% to X tons, falling for the second consecutive year after two years of growth. In general, exports faced a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 151% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, stranded wire exports declined rapidly to $X in 2021. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 173%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Angola (X tons) was the main destination for stranded wire exports from Ghana, accounting for a 74% share of total exports. Moreover, stranded wire exports to Angola exceeded the volume sent to the second major destination, Togo (X tons), eightfold. The third position in this ranking was taken by Burkina Faso (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola amounted to +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+19.0% per year) and Burkina Faso (-20.7% per year).

In value terms, Angola ($X) remains the key foreign market for stranded wire, ropes and cables exports from Ghana, comprising 88% of total exports. The second position in the ranking was taken by Liberia ($X), with a 3.9% share of total exports. It was followed by Togo, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to Angola totaled +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Liberia (+25.6% per year) and Togo (+10.2% per year).

Export Prices by Country

In 2021, the average stranded wire export price amounted to $X per ton, rising by 8.6% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stranded wire export price increased by +65.4% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 40%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while the average price for exports to Mali ($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 Liberia (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into Ghana

After two years of growth, overseas purchases of stranded wire, ropes and cables decreased by -19.1% to X tons in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 123%. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped rapidly in the following year.

In value terms, stranded wire imports declined modestly to $X in 2021. Over the period under review, imports, however, showed a slight increase. The pace of growth was the most pronounced in 2016 with an increase of 136% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of stranded wire to Ghana, accounting for a 61% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.6% per year) and Turkey (+3.4% per year).

In value terms, China ($X) constituted the largest supplier of stranded wire, ropes and cables to Ghana, comprising 54% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by Turkey, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.0% per year) and Turkey (+14.4% per year).

Import Prices by Country

In 2021, the average stranded wire import price amounted to $X per ton, rising by 20% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 Korea ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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