Ghana: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Ghana

The Ghanian wooden kitchen furniture market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Wooden Kitchen Furniture Exports

Exports from Ghana

In 2022, after two years of decline, there was significant growth in shipments abroad of wooden furniture for kitchens, when their volume increased by 35% to X units. Over the period under review, exports showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,708% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wooden kitchen furniture exports skyrocketed to $X in 2022. In general, exports posted strong growth. The pace of growth was the most pronounced in 2019 with an increase of 1,783% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Morocco (X units), Niger (X units) and Togo (X units) were the main destinations of wooden kitchen furniture exports from Ghana, together comprising 74% of total exports. The United States, Burkina Faso, Sierra Leone, Liberia, Angola, Ethiopia, Australia and the UK lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +57.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Niger ($X) and the United States ($X) constituted the largest markets for wooden kitchen furniture exported from Ghana worldwide, together comprising 78% of total exports.

The United States, with a CAGR of +95.7%, 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 kitchen furniture export price stood at $X per unit in 2022, with an increase of 41% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 60% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 the UK ($X per unit), while the average price for exports to Togo ($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 the United States (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Ghana

In 2022, supplies from abroad of wooden furniture for kitchens was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 246%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden kitchen furniture imports expanded remarkably to $X in 2022. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 286%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), Germany (X units) and Malaysia (X units) were the main suppliers of wooden kitchen furniture imports to Ghana, together accounting for 69% of total imports. Turkey, the UK, Morocco, Greece, India, the United Arab Emirates, China, South Africa, France and Russia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +107.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of wooden furniture for kitchens to Ghana, comprising 33% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+62.7% per year) and China (+3.9% per year).

Import Prices by Country

In 2022, the average wooden kitchen furniture import price amounted to $X per unit, reducing by -19.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2021 when the average import price increased by 34%. As a result, import price reached the peak level of $X per unit, and then reduced notably in the following year.

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 China ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :