Ghana: Self-Propelled Boring Machinery Market 2022

Self-Propelled Boring Machinery Market Size in Ghana

The Ghanian self-propelled boring machinery market contracted remarkably to $X in 2021, with a decrease of -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). Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Self-Propelled Boring Machinery Exports

Exports from Ghana

In 2021, approx. X units of self-propelled boring or sinking machinery were exported from Ghana; jumping by X% against the previous year's figure. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, self-propelled boring machinery exports skyrocketed to $X in 2021. In general, exports saw a perceptible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mali (X units) and Burkina Faso (X units) were the main destinations of self-propelled boring machinery exports from Ghana.

From 2012 to 2021, the biggest increases were in Mali (with a CAGR of X value terms, Burkina Faso ($X) and Mali ($X) appeared to be the largest markets for self-propelled boring machinery exported from Ghana worldwide.

Among the main countries of destination, Mali, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the average self-propelled boring machinery export price amounted to $X per unit, which is down by -X% against the previous year. Over the period under review, the export price, however, recorded tangible growth. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then shrank notably in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Mali amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+X%).

Self-Propelled Boring Machinery Imports

Imports into Ghana

In 2021, the amount of self-propelled boring or sinking machinery imported into Ghana dropped dramatically to X units, shrinking by -X% against 2020. In general, imports, however, continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then contracted remarkably in the following year.

In value terms, self-propelled boring machinery imports declined dramatically to $X in 2021. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Finland (X units) constituted the largest self-propelled boring machinery supplier to Ghana, with a X% share of total imports. Moreover, self-propelled boring machinery imports from Finland exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Sweden (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2021, the average annual growth rate of volume from Finland totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Sweden (+X% per year).

In value terms, the largest self-propelled boring machinery suppliers to Ghana were Finland ($X), Sweden ($X) and India ($X), with a combined X% share of total imports.

Among the main suppliers, India, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average self-propelled boring machinery import price amounted to $X per unit, increasing by X% against the previous year. In general, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform