Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana - 2022
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (CIF) - 2022
The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $125 per unit in 2022, surging by 1.7% against the previous year. Overall, the import price continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2020 an increase of 48%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($689 per unit), while the price for Brazil ($42 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (FOB) - 2022
In 2022, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $84 per unit, rising by 20% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for furniture; wooden, other than for office, kitchen or bedroom use increased by +46.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 34%. As a result, the export price attained the peak level of $91 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($154 per unit), while the average price for exports to Gambia ($8.7 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana
After three years of growth, purchases abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -10.8% to 437K units in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 7.6%. As a result, imports attained the peak of 490K units, and then contracted in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use dropped to $54M in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 52%. Imports peaked at $60M in 2021, and then contracted in the following year.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.8 | 27.6 | 37.8 | 34.3 | 57.4% |
| United Kingdom | 3.1 | 4.0 | 6.5 | 4.5 | 13.2% |
| Turkey | 1.9 | 2.3 | 4.2 | 3.9 | 27.1% |
| Italy | 1.2 | 1.1 | 2.1 | 1.6 | 10.1% |
| United Arab Emirates | 0.2 | 0.2 | 0.9 | 0.8 | 58.7% |
| Malaysia | 1.0 | 0.6 | 0.6 | 0.7 | -11.2% |
| South Africa | 0.5 | 0.6 | 0.3 | 0.5 | 0.0% |
| Brazil | 0.2 | 0.3 | 0.6 | 0.4 | 26.0% |
| Others | 11.1 | 5.8 | 6.9 | 7.8 | -11.1% |
| Total | 28.0 | 42.5 | 60.0 | 54.4 | 24.8% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Ghana in 2022:
- China (217.5K units)
- United Kingdom (57.0K units)
- Turkey (48.5K units)
- Italy (20.1K units)
- Malaysia (11.8K units)
- United Arab Emirates (10.6K units)
- Brazil (8.7K units)
- South Africa (7.7K units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana
In 2022, shipments abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -71.1% to 2.3K units, falling for the second consecutive year after two years of growth. Overall, exports saw a precipitous setback. The pace of growth appeared the most rapid in 2020 with an increase of 240%. As a result, the exports reached the peak of 28K units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use fell remarkably to $195K in 2022. Over the period under review, exports showed a sharp slump. The most prominent rate of growth was recorded in 2020 with an increase of 146%. As a result, the exports attained the peak of $1.6M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Rwanda | 7.0 | 44.3 | 20.6 | 25.5 | 53.9% |
| United States | 28.0 | 103 | 43.0 | 22.6 | -6.9% |
| Japan | 62.5 | 190 | 65.9 | 19.8 | -31.8% |
| Sudan | 35.5 | 108 | 37.4 | 11.2 | -31.9% |
| Kuwait | N/A | N/A | N/A | 10.0 | 0% |
| Burkina Faso | 8.3 | 206 | 25.8 | 9.8 | 5.7% |
| Niger | 24.2 | 38.5 | 24.7 | 9.6 | -26.5% |
| Lebanon | 0.4 | 3.6 | 3.3 | 8.4 | 175.9% |
| Ethiopia | 7.0 | 21.8 | 7.5 | 7.3 | 1.4% |
| China | 26.3 | 71.1 | 22.1 | 5.9 | -39.2% |
| Cote d'Ivoire | 1.6 | 57.0 | 86.0 | 3.8 | 33.4% |
| France | 5.7 | 12.8 | 3.3 | 0.7 | -50.3% |
| Gambia | 0.3 | 0.6 | 0.5 | 0.3 | 0.0% |
| Others | 448 | 755 | 223 | 59.6 | -49.0% |
| Total | 655 | 1,610 | 563 | 195 | -33.2% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Ghana in 2022:
- United States (607.0 units)
- China (235.0 units)
- Rwanda (194.0 units)
- Japan (151.0 units)
- Sudan (86.0 units)
- Ethiopia (81.0 units)
- Lebanon (79.0 units)
- Kuwait (76.0 units)
- Burkina Faso (74.0 units)
- France (65.0 units)
- Cote d'Ivoire (63.0 units)
- Niger (62.0 units)
- Gambia (37.0 units)
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