Ghana: Bicycle Lighting Market 2023

Bicycle Lighting Market Size in Ghana

In 2021, after two years of growth, there was significant decline in the Ghanian bicycle lighting market, when its value decreased by -39.4% to $X. Overall, consumption recorded a abrupt descent. Bicycle lighting consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Bicycle Lighting Exports

Exports from Ghana

In 2021, overseas shipments of electrical or battery operated lighting or visual signalling for bicycles were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 1,968%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, bicycle lighting exports reduced sharply to $X in 2021. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 3,852% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) was the main destination for bicycle lighting exports from Ghana, accounting for a 85% share of total exports. Moreover, bicycle lighting exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X units), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire amounted to +32.8%.

In value terms, Burkina Faso ($X) remains the key foreign market for electrical or battery operated lighting or visual signalling for bicycles exports from Ghana, comprising 93% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Burkina Faso totaled +7.6%.

Export Prices by Country

In 2021, the average bicycle lighting export price amounted to $X per unit, falling by -50.5% against the previous year. Overall, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 254%. As a result, the export price reached the peak level of $X per unit, and then declined notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Cote d'Ivoire amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+45.9%), while the prices for the other major destinations experienced a decline.

Bicycle Lighting Imports

Imports into Ghana

In 2021, after two years of growth, there was significant decline in overseas purchases of electrical or battery operated lighting or visual signalling for bicycles, when their volume decreased by -45.3% to X units. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 196% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, bicycle lighting imports fell sharply to $X in 2021. In general, imports recorded a deep setback. The growth pace was the most rapid in 2014 with an increase of 129%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest bicycle lighting supplier to Ghana, with a 77% share of total imports. Moreover, bicycle lighting imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), tenfold. The third position in this ranking was taken by Sweden (X units), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+42.4% per year) and Sweden (+18.6% per year).

In value terms, China ($X) constituted the largest supplier of electrical or battery operated lighting or visual signalling for bicycles to Ghana, comprising 57% of total imports. The second position in the ranking was held by Sweden ($X), with a 20% share of total imports. It was followed by Australia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+44.6% per year) and Australia (+37.2% per year).

Import Prices by Country

The average bicycle lighting import price stood at $X per unit in 2021, increasing by 15% against the previous year. Over the period under review, the import price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 41%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+58.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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