Ghana: Wire And Cable Market 2024

Wire And Cable Market Size in Ghana

In 2022, the Ghanian wire and cable market increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Wire And Cable Exports

Exports from Ghana

In 2022, shipments abroad of insulated wire and cable increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, wire and cable exports soared to $X in 2022. Over the period under review, exports recorded a modest increase. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for wire and cable exports from Ghana, accounting for a X% share of total exports. Moreover, wire and cable exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and the United Arab Emirates (X% per year).

In value terms, Burkina Faso ($X), Cote d'Ivoire ($X) and Angola ($X) appeared to be the largest markets for wire and cable exported from Ghana worldwide, with a combined X% share of total exports. The United Arab Emirates, Togo and Niger lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wire and cable export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price 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, wire and cable export price decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Togo ($X 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 Burkina Faso (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Wire And Cable Imports

Imports into Ghana

In 2022, approx. X tons of insulated wire and cable were imported into Ghana; dropping by X% on the previous year's figure. Overall, imports showed a noticeable decline. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wire and cable imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest wire and cable supplier to Ghana, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the largest wire and cable suppliers to Ghana, with a combined X% share of total imports.

The United Arab Emirates, 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 more modest paces of growth.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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

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

Source: IndexBox Platform

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