Speed Changer Price in Ghana - 2022
Contents:
- Speed Changer Price in Ghana (CIF) - 2022
- Speed Changer Price in Ghana (FOB) - 2022
- Speed Changer Imports in Ghana
- Speed Changer Exports in Ghana
Speed Changer Price in Ghana (CIF) - 2022
In 2022, the average speed changer import price amounted to $12,969 per ton, surging by 2.9% against the previous year. In general, the import price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 35%. The import price peaked at $20,307 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($55,812 per ton), while the price for China ($4,265 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Speed Changer Price in Ghana (FOB) - 2022
In 2022, the average speed changer export price amounted to $11,392 per ton, growing by 7% against the previous year. Overall, the export price, however, showed a mild curtailment. The growth pace was the most rapid in 2015 when the average export price increased by 57% against the previous year. As a result, the export price reached the peak level of $21,307 per ton. From 2016 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($229,000 per ton), while the average price for exports to South Korea ($1,359 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sierra Leone (+46.9%), while the prices for the other major destinations experienced more modest paces of growth.
Speed Changer Imports in Ghana
In 2022, after three years of growth, there was significant decline in purchases abroad of speed changers, industrial high-speed drives and gear, when their volume decreased by -21.9% to 1.1K tons. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 60%.
In value terms, speed changer imports reduced notably to $15M in 2022. Over the period under review, total imports indicated a pronounced increase from 2019 to 2022: its value increased at an average annual rate of +3.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 65% against the previous year. As a result, imports reached the peak of $18M, and then dropped markedly in the following year.
| Import of Speed Changer in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.1 | 1.1 | 2.0 | 3.6 | 48.5% |
| Belgium | 5.0 | 2.3 | 3.3 | 2.7 | -18.6% |
| China | 0.7 | 2.0 | 3.5 | 2.3 | 48.7% |
| Germany | 0.5 | 1.0 | 2.0 | 1.0 | 26.0% |
| South Africa | 1.3 | 1.0 | 1.5 | 0.6 | -22.7% |
| Australia | 0.6 | 0.4 | 0.9 | 0.5 | -5.9% |
| Finland | 0.2 | 0.3 | 0.5 | 0.5 | 35.7% |
| India | 0.6 | 0.5 | 0.4 | 0.5 | -5.9% |
| France | 0.1 | 0.2 | 0.6 | 0.5 | 71.0% |
| Italy | 0.2 | 0.1 | 0.1 | 0.2 | 0.0% |
| Others | 2.8 | 2.1 | 3.4 | 2.2 | -7.7% |
| Total | 12.9 | 11.0 | 18.1 | 14.5 | 4.0% |
Top Suppliers of Speed Changer to Ghana in 2022:
- China (543.7 tons)
- United States (163.8 tons)
- India (90.9 tons)
- Belgium (48.2 tons)
- Germany (39.0 tons)
- South Africa (27.2 tons)
- Finland (24.6 tons)
- Italy (21.0 tons)
- Australia (20.8 tons)
- France (18.7 tons)
Speed Changer Exports in Ghana
After three years of growth, overseas shipments of speed changers, industrial high-speed drives and gear decreased by -24.2% to 26 tons in 2022. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 101%. As a result, the exports reached the peak of 34 tons, and then reduced notably in the following year.
In value terms, speed changer exports shrank notably to $291K in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, the exports attained the peak of $358K, and then reduced remarkably in the following year.
| Export of Speed Changer in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 41.4 | 49.5 | 57.3 | 60.6 | 13.5% |
| Cote d'Ivoire | 4.4 | 16.2 | 41.8 | 27.7 | 84.6% |
| Burkina Faso | 23.8 | 16.6 | 34.2 | 25.4 | 2.2% |
| Belgium | 3.6 | 5.9 | 2.4 | 24.0 | 88.2% |
| Nigeria | 2.9 | 4.9 | 9.0 | 7.3 | 36.0% |
| United Kingdom | 2.9 | 4.5 | 6.5 | 5.7 | 25.3% |
| South Korea | 0.2 | 3.8 | 7.6 | 4.9 | 190.4% |
| Togo | 2.6 | 4.0 | 4.8 | 4.8 | 22.7% |
| Niger | 2.7 | 3.9 | 4.6 | 4.4 | 17.7% |
| Germany | 0.5 | 0.8 | 5.2 | 3.4 | 89.5% |
| Sweden | 2.6 | 5.3 | 14.7 | 2.5 | -1.3% |
| South Africa | 2.5 | 11.4 | 17.1 | 1.8 | -10.4% |
| Mali | 1.6 | 2.0 | 2.1 | 1.6 | 0.0% |
| Others | 66.5 | 94.5 | 151 | 117 | 20.7% |
| Total | 158 | 223 | 358 | 291 | 22.6% |
Top Export Markets for Speed Changer from Ghana in 2022:
- Cote d'Ivoire (4.8 tons)
- South Korea (3.6 tons)
- Belgium (2.9 tons)
- France (2.3 tons)
- Nigeria (2.2 tons)
- United Kingdom (1.9 tons)
- Burkina Faso (1.8 tons)
- Niger (1.7 tons)
- Togo (0.8 tons)
- Germany (0.8 tons)
- Mali (0.3 tons)
- South Africa (0.1 tons)
- Sweden (0.1 tons)
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