Bicycle Tire Price in Ghana - 2022
Contents:
- Bicycle Tire Price in Ghana (CIF) - 2022
- Bicycle Tire Price in Ghana (FOB) - 2022
- Bicycle Tire Imports in Ghana
- Bicycle Tire Exports in Ghana
Bicycle Tire Price in Ghana (CIF) - 2022
In 2022, the average bicycle tire import price amounted to $4.3 per unit, picking up by 23% against the previous year. Overall, the import price continues to indicate a modest increase. The most prominent rate of growth was recorded in 2018 an increase of 87%. Over the period under review, average import prices hit record highs at $7 per unit in 2019; however, from 2020 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 Vietnam ($11 per unit), while the price for India ($2.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Bicycle Tire Price in Ghana (FOB) - 2022
In 2022, the average bicycle tire export price amounted to $6 per unit, growing by 2.8% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bicycle tire export price decreased by -3.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 29% against the previous year. The export price peaked at $6.2 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.
From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to +4.6% per year.
Bicycle Tire Imports in Ghana
In 2022, after three years of growth, there was significant decline in supplies from abroad of new pneumatic tyres for bicycles, when their volume decreased by -17.4% to 1.2M units. Overall, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 91%. Imports peaked at 1.4M units in 2021, and then dropped notably in the following year.
In value terms, bicycle tire imports amounted to $5.1M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +15.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.6% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 55% against the previous year. As a result, imports reached the peak of $5.2M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Bicycle Tire in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1,312 | 1,934 | 2,379 | 2,358 | 21.6% |
| China | 1,000 | 1,794 | 1,367 | 1,785 | 21.3% |
| Thailand | 109 | 568 | 502 | 443 | 59.6% |
| Indonesia | 545 | 566 | 357 | 268 | -21.1% |
| India | 342 | 133 | 312 | 246 | -10.4% |
| Others | 55.0 | 206 | 121 | 19.6 | -29.1% |
| Total | 3,363 | 5,201 | 5,038 | 5,119 | 15.0% |
Top Suppliers of Bicycle Tire to Ghana in 2022:
- China (665.2K units)
- Vietnam (209.4K units)
- Thailand (178.2K units)
- India (115.4K units)
- Indonesia (23.8K units)
Bicycle Tire Exports in Ghana
After three years of growth, shipments abroad of new pneumatic tyres for bicycles decreased by -13.3% to 29K units in 2022. The total export volume increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 36%. As a result, the exports attained the peak of 33K units, and then shrank in the following year.
In value terms, bicycle tire exports declined to $173K in 2022. The total export value increased at an average annual rate of +8.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. As a result, the exports reached the peak of $195K, and then shrank in the following year.
| Export of Bicycle Tire in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 135 | 152 | 190 | 173 | 8.6% |
| Others | 0.1 | 0.6 | 4.6 | N/A | 578.2% |
| Total | 135 | 152 | 195 | 173 | 8.6% |
Top Export Markets for Bicycle Tire from Ghana in 2022:
- Cote d'Ivoire (28.8K units)
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