Ghana: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Ghana

The Ghanian wooden bedroom furniture market was estimated at $X in 2022, surging by 13% against the previous year. Over the period under review, consumption saw a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Wooden Bedroom Furniture Production in Ghana

In value terms, wooden bedroom furniture production expanded rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 89% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports from Ghana

In 2022, wooden bedroom furniture exports from Ghana dropped sharply to X units, waning by -21.5% compared with 2021 figures. Overall, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 122%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports declined dramatically to $X in 2022. Over the period under review, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 179%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for wooden bedroom furniture exports from Ghana, accounting for a 46% share of total exports. Moreover, wooden bedroom furniture exports to India exceeded the volume sent to the second major destination, Kenya (X units), threefold. The third position in this ranking was held by Spain (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to -14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+14.9% per year) and Spain (-3.4% per year).

In value terms, Kenya ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from Ghana, comprising 58% of total exports. The second position in the ranking was held by India ($X), with an 8.6% share of total exports. It was followed by Spain, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Kenya totaled +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-13.8% per year) and Spain (-6.9% per year).

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, with a decrease of -6.3% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2016 an increase of 33% against the previous year. The export price peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to Gambia ($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 Kenya (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Ghana

In 2022, imports of wooden furniture of a kind used in the bedroom into Ghana amounted to X units, surging by 4.8% against the previous year's figure. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 82%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wooden bedroom furniture imports dropped to $X in 2022. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 89% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

China (X units), Brazil (X units) and Turkey (X units) were the main suppliers of wooden bedroom furniture imports to Ghana, with a combined 70% share of total imports. Malaysia, Italy, the United States and Uganda lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uganda (with a CAGR of +112.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Ghana, comprising 49% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Brazil, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+41.6% per year) and Brazil (+33.2% per year).

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, shrinking by -15.5% against the previous year. Overall, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 63%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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