Ghana: Radio Navigation Apparatus Market 2024

Radio Navigation Apparatus Market Size in Ghana

In 2021, the Ghanian radio navigation apparatus market increased by 109% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption saw significant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Radio Navigation Apparatus Exports

Exports from Ghana

In 2021, shipments abroad of radio navigational aid apparatus increased by 74% to X kg, rising for the third consecutive year after two years of decline. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 31,300%. As a result, the exports attained the peak of X kg. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, radio navigation apparatus exports surged to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 52,577% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg), Singapore (X kg) and the UK (X kg) were the main destinations of radio navigation apparatus exports from Ghana, with a combined 57% share of total exports. These countries were followed by South Africa, Belgium, Spain and Norway, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +56.5%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the United States ($X) and Singapore ($X) appeared to be the largest markets for radio navigation apparatus exported from Ghana worldwide, with a combined 54% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +145.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average radio navigation apparatus export price amounted to $X per ton, with an increase of 72% against the previous year. In general, the export price enjoyed a strong increase. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Navigation Apparatus Imports

Imports into Ghana

In 2021, supplies from abroad of radio navigational aid apparatus increased by 65% to X tons, rising for the third year in a row after two years of decline. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 410% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, radio navigation apparatus imports skyrocketed to $X in 2021. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 228% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of radio navigation apparatus to Ghana, accounting for a 59% share of total imports. Moreover, radio navigation apparatus imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Finland (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore stood at +105.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+52.3% per year) and Finland (+58.9% per year).

In value terms, Singapore ($X) constituted the largest supplier of radio navigational aid apparatus to Ghana, comprising 35% of total imports. The second position in the ranking was taken by China ($X), with a 6.7% share of total imports. It was followed by Lithuania, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore stood at +104.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+44.0% per year) and Lithuania (+13.3% per year).

Import Prices by Country

In 2021, the average radio navigation apparatus import price amounted to $X per ton, growing by 61% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :