Price for Lubricating Preparations Not for the Treatment of Materials in Ghana - 2022

Contents:

1. Price for Lubricating Preparations Not for the Treatment of Materials in Ghana (CIF) - 2022
2. Price for Lubricating Preparations Not for the Treatment of Materials in Ghana (FOB) - 2022
3. Imports of Lubricating Preparations Not for the Treatment of Materials in Ghana
4. Exports of Lubricating Preparations Not for the Treatment of Materials in Ghana

Price for Lubricating Preparations Not for the Treatment of Materials in Ghana (CIF) - 2022

The average import price for lubricating preparations not for the treatment of materials stood at $5,043 per ton in 2022, shrinking by -4.2% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for lubricating preparations not for the treatment of materials increased by +62.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 69%. The import price peaked at $5,263 per ton in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($8,357 per ton), while the price for Canada ($1,184 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Lubricating Preparations Not for the Treatment of Materials in Ghana (FOB) - 2022

In 2022, the average export price for lubricating preparations not for the treatment of materials amounted to $1,744 per ton, reducing by -25% against the previous year. In general, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs at $5,319 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($18,013 per ton), while the average price for exports to Togo ($51 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+23.0%), while the prices for the other major destinations experienced a decline.

Imports of Lubricating Preparations Not for the Treatment of Materials in Ghana

In 2022, purchases abroad of lubricating preparations not for the treatment of materials decreased by -2.2% to 3.7K tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. As a result, imports attained the peak of 4.8K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of lubricating preparations not for the treatment of materials contracted to $19M in 2022. The total import value increased at an average annual rate of +1.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 8.6%.

Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Ghana in 2022:

1. Germany (673.2 tons)
2. China (382.3 tons)
3. South Africa (213.5 tons)
4. France (202.1 tons)
5. Netherlands (175.8 tons)
6. Canada (174.2 tons)
7. Spain (86.5 tons)
8. India (79.3 tons)
9. United Kingdom (70.8 tons)
10. United States (62.2 tons)
11. Italy (59.4 tons)
12. United Arab Emirates (53.2 tons)
13. Belgium (39.0 tons)

Exports of Lubricating Preparations Not for the Treatment of Materials in Ghana

In 2022, exports of lubricating preparations not for the treatment of materials from Ghana rose markedly to 147 tons, picking up by 14% against 2021. The total export volume increased at an average annual rate of +7.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, the exports of lubricating preparations not for treatment of materials reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of lubricating preparations not for the treatment of materials reduced to $256K in 2022. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year.

Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Ghana in 2022:

1. Burkina Faso (113.7 tons)
2. Togo (29.9 tons)
3. Cote d'Ivoire (1.5 tons)