Price for New Pneumatic Tyres, of Rubber in Ghana - 2023
Contents:
- Price for New Pneumatic Tyres, of Rubber in Ghana (CIF) - 2022
- Price for New Pneumatic Tyres, of Rubber in Ghana (FOB) - 2022
- Imports of New Pneumatic Tyres, of Rubber in Ghana
- Exports of New Pneumatic Tyres, of Rubber in Ghana
Price for New Pneumatic Tyres, of Rubber in Ghana (CIF) - 2022
The average import price for new pneumatic tyres, of rubbers stood at $39 per unit in 2022, growing by 30% against the previous year. Overall, the import price posted a slight increase. The pace of growth was the most pronounced in 2014 an increase of 109%. The import price peaked at $65 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($661 per unit), while the price for Thailand ($12 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for New Pneumatic Tyres, of Rubber in Ghana (FOB) - 2022
In 2022, the average export price for new pneumatic tyres, of rubbers amounted to $160 per unit, increasing by 25% against the previous year. Overall, the export price, however, saw a mild descent. The most prominent rate of growth was recorded in 2015 when the average export price increased by 96%. As a result, the export price attained the peak level of $259 per unit. From 2016 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Burkina Faso ($360 per unit), while the average price for exports to Guinea ($8 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 Sudan (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of New Pneumatic Tyres, of Rubber in Ghana
After three years of growth, supplies from abroad of new pneumatic tyres, of rubbers decreased by -25.8% to 5M units in 2022. In general, imports, however, posted significant growth. The growth pace was the most rapid in 2020 with an increase of 93% against the previous year. Over the period under review, imports reached the maximum at 6.7M units in 2021, and then reduced markedly in the following year.
In value terms, new pneumatic tyres, of rubber imports contracted slightly to $195M in 2022. The total import value increased at an average annual rate of +8.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at $202M in 2021, and then dropped modestly in the following year.
Import of New Pneumatic Tyres, of Rubber in Ghana (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 62.2 | 122 | 131 | 123 | 25.5% |
United States | 8.6 | 12.1 | 10.5 | 22.0 | 36.8% |
India | 10.0 | 7.5 | 9.5 | 5.7 | -17.1% |
Vietnam | 0.8 | 7.0 | 6.5 | 3.4 | 62.0% |
Indonesia | 1.2 | 1.8 | 2.1 | 1.9 | 16.6% |
Thailand | 2.9 | 2.5 | 3.7 | 1.9 | -13.1% |
Others | 65.9 | 35.0 | 38.7 | 37.1 | -17.4% |
Total | 152 | 188 | 202 | 195 | 8.7% |
Top Suppliers of New Pneumatic Tyres, of Rubber to Ghana in 2022:
- China (4087.6K units)
- Vietnam (215.3K units)
- Thailand (161.9K units)
- India (155.0K units)
- United States (117.4K units)
- Indonesia (57.7K units)
Exports of New Pneumatic Tyres, of Rubber in Ghana
In 2022, overseas shipments of new pneumatic tyres, of rubbers decreased by -27.7% to 1.1K units for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +5.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 45% against the previous year. As a result, the exports reached the peak of 1.6K units, and then contracted notably in the following year.
In value terms, new pneumatic tyres, of rubber exports contracted to $183K in 2022. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 24%. As a result, the exports attained the peak of $203K, and then declined in the following year.
Export of New Pneumatic Tyres, of Rubber in Ghana (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Australia | 45.4 | 33.1 | 40.9 | 71.1 | 16.1% |
Mauritania | 23.2 | 19.3 | 27.1 | 53.7 | 32.3% |
Sudan | 4.2 | 3.5 | 4.9 | 9.6 | 31.7% |
Togo | 25.1 | 37.4 | 49.1 | 6.3 | -36.9% |
Senegal | 3.0 | 2.3 | 3.0 | 5.6 | 23.1% |
Angola | 0.8 | 2.2 | 2.6 | 4.3 | 75.2% |
Benin | 4.4 | 2.4 | 1.4 | 4.3 | -0.8% |
United States | 1.3 | 1.0 | 1.5 | 2.9 | 30.7% |
Nigeria | 12.9 | 17.8 | 11.2 | 2.4 | -42.9% |
Cote d'Ivoire | 0.4 | 33.2 | 50.5 | 1.2 | 44.2% |
Others | 11.0 | 11.1 | 10.5 | 21.6 | 25.2% |
Total | 132 | 163 | 203 | 183 | 11.5% |
Top Export Markets for New Pneumatic Tyres, of Rubber from Ghana in 2022:
- Australia (477.0 units)
- Mauritania (361.0 units)
- Sudan (65.0 units)
- Senegal (37.0 units)
- Togo (30.0 units)
- Benin (29.0 units)
- Angola (28.0 units)
- United States (20.0 units)
- Nigeria (16.0 units)
- Cote d'Ivoire (11.0 units)
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The tyre industry has witnessed significant growth over the years, driven by the increasing demand for automobiles and the expanding global automotive industry. As a result, tire manufacturers around the world are constantly looking to tap into the best import markets for tyres to ensure their products reach a wider audience. The IndexBox Market Intelligence Platform provides comprehensive and up-to-date data on global trade, including import values, market trends, and key statistics. Based on the data sourced from the IndexBox platform, we have compiled a list of the top 10 countries with the highest import values for tyres in 2022. The United States takes the top spot with an import value of $18.7 billion in 2022, followed by Germany and France. Emerging economies like Mexico, Canada, and Australia also contribute significantly to the import market for tyres. The IndexBox market intelligence platform delivers valuable insights into these markets, helping manufacturers and traders make informed decisions and capitalize on the opportunities available.
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