Ghana: Table Flatware Market 2024

Table Flatware Market Size in Ghana

After two years of growth, the Ghanian table flatware market decreased by -6.5% to $X in 2022. Over the period under review, consumption, however, enjoyed a pronounced expansion. Table flatware consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Table Flatware Production in Ghana

In value terms, table flatware production rose notably to $X in 2022 estimated in export price. In general, production recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 153%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Table Flatware Exports

Exports from Ghana

In 2022, the amount of table flatware exported from Ghana fell to X kg, waning by -4% on the year before. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2014 when exports increased by 1,193% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, table flatware exports reduced dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 606%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X kg), Togo (X kg) and Burkina Faso (X kg) were the main destinations of table flatware exports from Ghana, with a combined 85% share of total exports. Niger, the United States and Canada lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +46.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Burkina Faso ($X) and Niger ($X) appeared to be the largest markets for table flatware exported from Ghana worldwide, together accounting for 86% of total exports.

In terms of the main countries of destination, Niger, with a CAGR of +89.9%, 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

The average table flatware export price stood at $X per ton in 2022, waning by -14.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 78%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

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 Niger ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Niger (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Table Flatware Imports

Imports into Ghana

In 2022, approx. X tons of table flatware were imported into Ghana; with a decrease of -15.7% compared with the previous year's figure. In general, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2017 when imports increased by 102% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, table flatware imports fell remarkably to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 47%. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest table flatware supplier to Ghana, accounting for a 71% share of total imports. Moreover, table flatware imports from China exceeded the figures recorded by the second-largest supplier, Cote d'Ivoire (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+81.7% per year) and India (+14.7% per year).

In value terms, China ($X) constituted the largest supplier of table flatware to Ghana, comprising 88% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 3.9% share of total imports. It was followed by India, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+54.1% per year) and India (+7.6% per year).

Import Prices by Country

In 2022, the average table flatware import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, showed a notable increase. The growth pace was the most rapid in 2015 an increase of 52%. The import price peaked at $X per ton in 2016; however, from 2017 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 South Africa ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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