Price for Electric Motors; of an Output Not Exceeding 37.5W in Ghana - 2022
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Ghana (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Ghana (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Ghana
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Ghana
Price for Electric Motors; of an Output Not Exceeding 37.5W in Ghana (CIF) - 2022
In 2022, the average import price for electric motors amounted to $11 per unit, shrinking by -36.4% against the previous year. Over the period under review, the import price showed a deep contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 97%. As a result, import price attained the peak level of $50 per unit. From 2017 to 2022, the average import prices remained at a lower figure.
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 India ($28 per unit), while the price for Romania ($0.8 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.1%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Ghana (FOB) - 2022
In 2022, the average export price for electric motors amounted to $434 per unit, dropping by -41.6% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 130%. As a result, the export price attained the peak level of $743 per unit, and then fell notably in the following year.
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 Norway ($1,256 per unit), while the average price for exports to Belgium ($1 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 Germany (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Ghana
After two years of decline, overseas purchases of electric motors increased by 152% to 180K units in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of electric motors surged to $2M in 2022. Overall, imports, however, recorded a perceptible curtailment. Over the period under review, imports of reached the maximum at $2.3M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 171 | 612 | 422 | 745 | 63.3% |
| India | 456 | 123 | 23.7 | 578 | 8.2% |
| Liberia | 98.5 | 185 | 125 | 158 | 17.1% |
| United States | 238 | 47.7 | 39.1 | 128 | -18.7% |
| United Arab Emirates | 58.9 | 56.6 | 55.1 | 64.6 | 3.1% |
| Germany | 54.9 | 59.0 | 49.6 | 28.0 | -20.1% |
| Spain | 9.5 | 40.2 | 18.5 | 19.5 | 27.1% |
| Romania | 2.2 | 4.0 | 2.6 | 3.8 | 20.0% |
| Others | 1,214 | 935 | 521 | 287 | -38.2% |
| Total | 2,303 | 2,062 | 1,257 | 2,012 | -4.4% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Ghana in 2022:
- United States (60.0K units)
- China (50.8K units)
- India (20.5K units)
- Liberia (19.3K units)
- Spain (5.3K units)
- Romania (4.9K units)
- United Arab Emirates (4.4K units)
- Germany (3.5K units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Ghana
In 2022, exports of electric motors from Ghana contracted rapidly to 28 units, which is down by -15.2% against 2021. Overall, total exports indicated mild growth from 2019 to 2022: its volume increased at an average annual rate of +1.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. As a result, the exports reached the peak of 33 units, and then reduced markedly in the following year.
In value terms, exports of electric motors shrank notably to $12K in 2022. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 261% against the previous year. As a result, the exports reached the peak of $25K, and then declined markedly in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Ghana (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 718 | 959 | 3,399 | 2,339 | 48.2% |
| France | 16.0 | 12.0 | 14.0 | 2,161 | 413.1% |
| Zambia | 3,714 | 2,643 | 4,996 | 1,833 | -21.0% |
| Norway | 793 | 854 | 2,448 | 1,256 | 16.6% |
| Netherlands | 531 | 483 | 909 | 871 | 17.9% |
| Cote d'Ivoire | 99.0 | 96.0 | 1,422 | 861 | 105.6% |
| Germany | 39.0 | 183 | 993 | 602 | 149.0% |
| Benin | 56.0 | 64.0 | 187 | 195 | 51.6% |
| Italy | 84.0 | 92.0 | 264 | 148 | 20.8% |
| Liberia | 39.0 | 40.0 | 112 | 60.0 | 15.4% |
| South Africa | 296 | 203 | 336 | 25.0 | -56.1% |
| Canada | 8.0 | 7.0 | 18.0 | 9.0 | 4.0% |
| Belgium | 180 | 31.0 | 2.0 | 1.0 | -82.3% |
| Others | 2,978 | 1,117 | 9,420 | 1,796 | -15.5% |
| Total | 9,551 | 6,784 | 24,520 | 12,157 | 8.4% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Ghana in 2022:
- France (8.0 units)
- Zambia (2.0 units)
- United States (2.0 units)
- Canada (1.0 units)
- Liberia (1.0 units)
- Netherlands (1.0 units)
- Italy (1.0 units)
- South Africa (1.0 units)
- Germany (1.0 units)
- Belgium (1.0 units)
- Norway (1.0 units)
- Cote d'Ivoire (1.0 units)
- Benin (1.0 units)
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