Ghana: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in Ghana

The Ghanian optical radiation instruments market expanded remarkably to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Optical Radiation Instruments Exports

Exports from Ghana

Optical radiation instruments exports from Ghana stood at X units in 2022, remaining constant against 2021 figures. Overall, exports continue to indicate measured growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, optical radiation instruments exports declined markedly to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units), the Netherlands (X units) and South Africa (X units) were the main destinations of optical radiation instruments exports from Ghana, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for instruments using optical radiations exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Switzerland ($X), with an X% share of total exports. It was followed by the Netherlands, with an X% share.

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

Export Prices by Country

In 2022, the average optical radiation instruments export price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2017 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 unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Sweden ($X 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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Optical Radiation Instruments Imports

Imports into Ghana

In 2022, optical radiation instruments imports into Ghana surged to X units, jumping by X% against 2021 figures. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, optical radiation instruments imports totaled $X in 2022. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest optical radiation instruments supplier to Ghana, accounting for a X% share of total imports. Moreover, optical radiation instruments imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold. The third position in this ranking was held by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

In value terms, the largest optical radiation instruments suppliers to Ghana were the United States ($X), China ($X) and Germany ($X), with a combined X% share of total imports. The Netherlands, South Korea, Japan, France, Hong Kong SAR, South Africa, Austria and India lagged somewhat behind, together accounting for a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average optical radiation instruments import price amounted to $X per unit, which is down by X% against the previous year. Overall, the import price, however, recorded a strong increase. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank remarkably in the following year.

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 the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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