Ghana: Aluminum Market 2024

Aluminum Market Size in Ghana

After six years of decline, the Ghanian aluminum market increased by X% to $X in 2022. Overall, consumption, however, saw a abrupt decline. Aluminum consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Aluminum Production in Ghana

In value terms, aluminum production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Aluminum Exports

Exports from Ghana

In 2022, exports of aluminum and alloys from Ghana totaled X tons, almost unchanged from the previous year's figure. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, aluminum exports dropped markedly to $X in 2022. Overall, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank dramatically in the following year.

Exports by Country

Italy (X tons) was the main destination for aluminum exports from Ghana, with a X% share of total exports. Moreover, aluminum exports to Italy exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, Italy ($X) remains the key foreign market for aluminum and alloys exports from Ghana, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Japan (X% per year).

Export Prices by Country

The average aluminum export price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price continues to indicate a slight decline. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell remarkably in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Spain ($X per ton), while the average price for exports to Belgium ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminum Imports

Imports into Ghana

In 2022, supplies from abroad of aluminum and alloys increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminum imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Nigeria (X tons) were the main suppliers of aluminum imports to Ghana, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest aluminum suppliers to Ghana were India ($X), Nigeria ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. China lagged somewhat behind, accounting for a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average aluminum import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a mild decline. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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