Report Update Nov 1, 2024

Ghana - Wool - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Wool Market 2024

Wool Market Size in Ghana

The Ghanian wool market declined slightly to $X in 2022, waning by -4.9% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Wool Production in Ghana

In value terms, wool production reduced modestly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -12.6% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 61%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Wool Exports

Exports from Ghana

In 2022, shipments abroad of wool was finally on the rise to reach X kg after two years of decline. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 30,170% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, wool exports amounted to $X in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 17,322% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for wool exports from Ghana, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Burkina Faso stood at +46.6%.

In value terms, Burkina Faso ($X) also remains the key foreign market for wool exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso amounted to +53.3%.

Export Prices by Country

The average wool export price stood at $X per ton in 2022, reducing by -4.2% against the previous year. Overall, the export price, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2018 an increase of 313% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Burkina Faso.

From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to +4.5% per year.

Wool Imports

Imports into Ghana

In 2022, after four years of growth, there was significant decline in overseas purchases of wool, when their volume decreased by -8% to X kg. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 7,792%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, wool imports reduced to $X in 2022. In general, imports recorded a sharp slump. The most prominent rate of growth was recorded in 2015 with an increase of 9,056% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the UK (X kg) was the main supplier of wool to Ghana, accounting for a 95% share of total imports. Moreover, wool imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK was relatively modest.

In value terms, the UK ($X) constituted the largest supplier of wool to Ghana, comprising 76% of total imports. The second position in the ranking was taken by the United States ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to -10.8%.

Import Prices by Country

The average wool import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the import price faced a abrupt decrease. The growth pace was the most rapid in 2017 when the average import price increased by 67%. The import price peaked at $X per ton in 2015; however, from 2016 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 ton), while the price for the UK amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-8.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool in the world?

The countries with the highest volumes of wool consumption in 2020 were China, the United States and India, with a combined 35% share of global consumption. These countries were followed by Russia, Brazil, the UK, Pakistan, Germany, Kazakhstan, Italy, Iran, Australia and Egypt, which together accounted for a further 28%.

What are the largest producers of wool in the world?

The countries with the highest volumes of wool production in 2020 were China, the United States and New Zealand, with a combined 34% share of global production. Russia, Brazil, the UK, Pakistan, Australia, Germany, Kazakhstan, Syrian Arab Republic, Turkey and Iran lagged somewhat behind, together accounting for a further 30%.

What are the leading suppliers of wool to Ghana?

In value terms, the United States $138) constituted the largest supplier of wool to Ghana, comprising 78% of total imports. The second position in the ranking was occupied by the UK $40), with a 22% share of total imports.

What are the leading importers of wool from Ghana?

In value terms, Burkina Faso $978) remains the key foreign market for wool exports from Ghana.

What is the average export price for wool in Ghana?

The average wool export price stood at $1,921 per ton in 2020, waning by -12.8% against the previous year.

What is the average import price for wool in Ghana?

The average wool import price stood at $1,604 per ton in 2020, reducing by -31.1% against the previous year.

This report provides an in-depth analysis of the wool market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023