Ghana: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Ghana

The Ghanian wooden frame upholstered seat market reached $X in 2022, flattening at 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 enjoyed a buoyant expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Upholstered Seats With Wooden Frames

Exports from Ghana

In 2022, overseas shipments of upholstered seats with wooden frames decreased by -27.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 313%. As a result, the exports reached the peak of X units, and then shrank sharply in the following year.

In value terms, wooden frame upholstered seat exports reduced notably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 521%. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

The United States (X units) was the main destination for wooden frame upholstered seat exports from Ghana, with a 42% share of total exports. Moreover, wooden frame upholstered seat exports to the United States exceeded the volume sent to the second major destination, Benin (X units), threefold. The third position in this ranking was held by Ethiopia (X units), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+32.0% per year) and Ethiopia (+19.6% per year).

In value terms, the largest markets for wooden frame upholstered seat exported from Ghana were the United States ($X), Benin ($X) and Burkina Faso ($X), together comprising 57% of total exports. Cote d'Ivoire, Ethiopia, Lebanon, Kenya, Mali, South Africa, Portugal, Angola, Cameroon and Canada lagged somewhat behind, together comprising a further 40%.

Cote d'Ivoire, with a CAGR of +44.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden frame upholstered seat export price stood at $X per unit in 2022, falling by -20.2% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 52% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+34.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Upholstered Seats With Wooden Frames

Imports into Ghana

In 2022, approx. X units of upholstered seats with wooden frames were imported into Ghana; stabilizing at the previous year. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 64% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, wooden frame upholstered seat imports contracted slightly to $X in 2022. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 63% against the previous year. Imports peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest wooden frame upholstered seat supplier to Ghana, with a 55% share of total imports. Moreover, wooden frame upholstered seat imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fourfold. Malaysia (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+31.7% per year) and Malaysia (+15.0% per year).

In value terms, the largest wooden frame upholstered seat suppliers to Ghana were China ($X), Turkey ($X) and Italy ($X), together accounting for 73% of total imports.

Turkey, with a CAGR of +40.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden frame upholstered seat import price stood at $X per unit in 2022, approximately mirroring the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 21% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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