Ghana: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Ghana

The Ghanian spectacle glass lenses market fell to $X in 2023, remaining constant against the previous year. In general, the total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. Spectacle glass lenses consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Spectacle Glass Lenses Production in Ghana

In value terms, spectacle glass lenses production declined slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Spectacle Glass Lenses Exports

Exports from Ghana

In 2023, approx. X units of spectacle lenses of glass or other materials were exported from Ghana; growing by X% against the previous year's figure. In general, exports, however, recorded a significant contraction. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, spectacle glass lenses exports surged to $X in 2023. Over the period under review, exports, however, faced a significant contraction. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X units) was the main destination for spectacle glass lenses exports from Ghana, with a X% share of total exports. Moreover, spectacle glass lenses exports to Nigeria exceeded the volume sent to the second major destination, Benin (X units), fourfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Togo (X% per year).

In value terms, Nigeria ($X) emerged as the key foreign market for spectacle lenses of glass or other materials exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Togo (X% per year).

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2023, jumping by X% against the previous year. In general, the export price showed a mild increase. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2022 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Togo ($X per unit) was amongst the lowest.

From 2012 to 2023, 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 mixed trend patterns.

Spectacle Glass Lenses Imports

Imports into Ghana

In 2023, approx. X units of spectacle lenses of glass or other materials were imported into Ghana; rising by X% compared with the year before. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, spectacle glass lenses imports expanded markedly to $X in 2023. Overall, imports recorded a strong expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X units) was the main spectacle glass lenses supplier to Ghana, accounting for a X% share of total imports. It was followed by the United Arab Emirates (X units), with a X% share of total imports. South Africa (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and South Africa (X% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Ghana, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2023, declining by X% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform