Ghana: Non-Propelled Vehicle Market 2024

Non-Propelled Vehicle Market Size in Ghana

The Ghanian non-propelled vehicle market contracted to $X in 2021, with a decrease of -8.5% 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 showed a abrupt slump. Non-propelled vehicle consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Non-Propelled Vehicle Exports

Exports from Ghana

For the fifth year in a row, Ghana recorded growth in overseas shipments of vehicles not mechanically propelled, which increased by 66% to X units in 2021. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 156% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, non-propelled vehicle exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 117% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Burkina Faso (X units) was the main destination for non-propelled vehicle exports from Ghana, accounting for a 87% share of total exports. Moreover, non-propelled vehicle exports to Burkina Faso exceeded the volume sent to the second major destination, Nigeria (X units), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso totaled +33.5%.

In value terms, Burkina Faso ($X) and Nigeria ($X) constituted the largest markets for non-propelled vehicle exported from Ghana worldwide.

Among the main countries of destination, Nigeria, with a CAGR of +149.2%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the average non-propelled vehicle export price amounted to $X per unit, jumping by 17% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-propelled vehicle export price increased by +27.0% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 67% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per unit), while the average price for exports to Burkina Faso amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+497.6%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Propelled Vehicle Imports

Imports into Ghana

In 2021, imports of vehicles not mechanically propelled into Ghana fell remarkably to X units, declining by -19.6% against 2020 figures. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 94%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, non-propelled vehicle imports shrank to $X in 2021. In general, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2018 with an increase of 172%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main non-propelled vehicle supplier to Ghana, accounting for a 93% share of total imports. It was followed by Denmark (X units), with a 1.7% share of total imports. The third position in this ranking was taken by the UK (X units), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+17.8% per year) and the UK (-17.9% per year).

In value terms, China ($X) constituted the largest supplier of non-propelled vehicle to Ghana, comprising 87% of total imports. The second position in the ranking was held by Denmark ($X), with a 1.4% share of total imports. It was followed by Turkey, with a 0.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-8.1% per year) and Turkey (-22.2% per year).

Import Prices by Country

The average non-propelled vehicle import price stood at $X per unit in 2021, picking up by 19% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 40%. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :