Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana - 2023

Contents:

1. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana (CIF) - 2023
2. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana (FOB) - 2023
3. Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana
4. Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana (CIF) - 2023

The average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs stood at $36,601 per unit in December 2023, rising by 1.8% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 24% against the previous month. The import price peaked at $39,682 per unit in February 2023; afterwards, it flattened through to December 2023.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Germany ($117K per unit), while the price for the United States ($30,904 per unit) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Germany (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana (FOB) - 2023

The average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs stood at $45,331 per unit in December 2023, growing by 39% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 an increase of 255% m-o-m. The export price peaked at $92,781 per unit in May 2023; however, from June 2023 to December 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Nigeria ($77,185 per unit), while the average price for exports to Senegal ($18,502 per unit) was amongst the lowest.

From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana

In 2022, overseas purchases of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs decreased by -35.4% to 4.9K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate significant growth. Over the period under review, imports of hit record highs at 7.5K units in 2021, and then contracted significantly in the following year.

In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs contracted dramatically to $134M in 2022. Overall, imports, however, enjoyed a noticeable expansion. Over the period under review, imports of hit record highs at $181M in 2021, and then fell rapidly in the following year.

Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc to Ghana in 2022:

1. United States (2859.0 units)
2. Canada (961.0 units)
3. United Arab Emirates (657.0 units)
4. Germany (99.0 units)
5. Japan (84.0 units)

Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Ghana

In 2022, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs from Ghana surged to 113 units, increasing by 277% compared with the year before. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs skyrocketed to $3.1M in 2022. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc from Ghana in 2022:

1. Rwanda (44.0 units)
2. Cote d'Ivoire (13.0 units)
3. United Kingdom (11.0 units)
4. United States (10.0 units)
5. Togo (9.0 units)
6. Mali (5.0 units)
7. Canada (3.0 units)
8. Lebanon (3.0 units)
9. Nigeria (2.0 units)
10. United Arab Emirates (1.0 units)

Source: IndexBox Market Intelligence Platform