Ghana: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Ghana

In 2021, the Ghanian wooden office furniture market increased by 32% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.6% against 2019 indices. Wooden office furniture consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Exports

Exports from Ghana

For the third year in a row, Ghana recorded decline in overseas shipments of wooden furniture of a kind used in offices, which decreased by -16.9% to X units in 2021. Over the period under review, exports recorded a significant curtailment. The pace of growth was the most pronounced in 2015 with an increase of 63% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports shrank markedly to $X in 2021. In general, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2017 when exports increased by 61% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), the Philippines (X units) and Germany (X units) were the main destinations of wooden office furniture exports from Ghana, together accounting for 50% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +27.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for wooden office furniture exported from Ghana were the Netherlands ($X), the Philippines ($X) and Togo ($X), together comprising 55% of total exports.

The Philippines, with a CAGR of +54.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, shrinking by -30.2% against the previous year. In general, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 107% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Niger ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Ghana

In 2021, purchases abroad of wooden furniture of a kind used in offices increased by 14% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 32% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, wooden office furniture imports surged to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +110.2% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 49% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wooden office furniture to Ghana, accounting for a 72% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The United Arab Emirates (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.2% per year) and the United Arab Emirates (-2.3% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Ghana, comprising 71% of total imports. The second position in the ranking was held by the UK ($X), with an 8.9% share of total imports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+21.1% per year) and Turkey (+6.3% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, with an increase of 24% against the previous year. Overall, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wooden office furniture import price increased by +53.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 27% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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