Ghana: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Ghana

The Ghanian semi-manufactured silver market reduced to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption continues to indicate a deep slump. Semi-manufactured silver consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Semi-Manufactured Silver Production in Ghana

In value terms, semi-manufactured silver production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Semi-manufactured silver production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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Semi-Manufactured Silver Exports

Exports from Ghana

In 2022, semi-manufactured silver exports from Ghana expanded rapidly to X kg, surging by X% compared with the year before. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at X kg in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, semi-manufactured silver exports surged to $X in 2022. In general, exports, however, showed a noticeable slump. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for semi-manufactured silver exports from Ghana, with a X% share of total exports. Moreover, semi-manufactured silver exports to Burkina Faso exceeded the volume sent to the second major destination, India (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Mali (X% per year).

In value terms, the largest markets for semi-manufactured silver exported from Ghana were India ($X), Burkina Faso ($X) and Mali ($X).

Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 India ($X per ton), while the average price for exports to Burkina Faso ($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 Cote d'Ivoire (X%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Ghana

In 2022, approx. X kg of silver in semi-manufactured forms were imported into Ghana; picking up by X% on 2021 figures. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X kg in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, semi-manufactured silver imports skyrocketed to $X in 2022. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X kg) constituted the largest supplier of semi-manufactured silver to Ghana, with a X% share of total imports. Moreover, semi-manufactured silver imports from South Africa exceeded the figures recorded by the second-largest supplier, Germany (X kg), twofold. The third position in this ranking was held by Canada (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Canada (X% per year).

In value terms, Germany ($X), South Africa ($X) and Canada ($X) constituted the largest semi-manufactured silver suppliers to Ghana, together accounting for X% of total imports.

In terms of the main suppliers, Germany, 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 2022, the average semi-manufactured silver import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price recorded a strong increase. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X,200 per ton), while the price for Belgium ($X per ton) 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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