Ghana: Non-Electric Pulley Tackle Market 2022

Non-Electric Pulley Tackle Market Size in Ghana

In 2021, the Ghanian non-electric pulley tackle market was finally on the rise to reach $X after three years of decline. In general, consumption, however, saw a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Non-Electric Pulley Tackle Exports

Exports from Ghana

In 2021, approx. X units of pulley tackle and hoists, non-powered by electric motor were exported from Ghana; waning by -X% on the year before. Overall, exports faced a sharp setback. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-electric pulley tackle exports contracted sharply to $X in 2021. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

South Africa (X units) was the main destination for non-electric pulley tackle exports from Ghana, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to South Africa was relatively modest.

In value terms, South Africa ($X) also remains the key foreign market for non-electric pulley tackle exports from Ghana.

From 2012 to 2021, the average annual growth rate of value to South Africa stood at +X%.

Export Prices by Country

The average non-electric pulley tackle export price stood at $X per unit in 2021, picking up by X% against the previous year. In general, the export price posted a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +X% per year.

Non-Electric Pulley Tackle Imports

Imports into Ghana

In 2021, overseas purchases of pulley tackle and hoists, non-powered by electric motor increased by X% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a deep reduction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, non-electric pulley tackle imports surged to $X in 2021. In general, imports, however, recorded a abrupt descent. Over the period under review, imports reached the maximum 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 supplier of non-electric pulley tackle to Ghana, accounting for a X% share of total imports. Moreover, non-electric pulley tackle imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X units), fourfold. Singapore (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-X% per year) and Singapore (+X% per year).

In value terms, Singapore ($X) constituted the largest supplier of non-electric pulley tackle to Ghana, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

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

Import Prices by Country

In 2021, the average non-electric pulley tackle import price amounted to $X per unit, rising by X% against the previous year. In general, the import price continues to indicate a strong increase. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform