Price for Inner Tubes, of Rubber in Ghana - 2022

Price for Inner Tubes, of Rubber in Ghana (CIF) - 2022

The average inner tubes, of rubber import price stood at $1.3 per unit in 2022, surging by 5.4% against the previous year. Over the period under review, the import price, however, saw a slight decline. The growth pace was the most rapid in 2019 an increase of 50%. As a result, import price attained the peak level of $2.4 per unit. From 2020 to 2022, the average 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 Vietnam ($4.6 per unit), while the price for India ($0.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced a decline.

Price for Inner Tubes, of Rubber in Ghana (FOB) - 2022

In 2022, the average inner tubes, of rubber export price amounted to $3.7 per unit, waning by -2.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 31% against the previous year. The export price peaked at $4.1 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Togo amounted to +9.1% per year.

Imports of Inner Tubes, of Rubber in Ghana

After three years of growth, purchases abroad of inner tubes, of rubbers decreased by -25.7% to 14M units in 2022. Over the period under review, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 169%. As a result, imports reached the peak of 19M units, and then declined dramatically in the following year.

In value terms, inner tubes, of rubber imports reduced rapidly to $19M in 2022. In general, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +8.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 43%. As a result, imports reached the peak of $24M, and then shrank dramatically in the following year.

Import of Inner Tubes, of Rubber in Ghana (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	10.4	13.5	19.6	17.8	19.6%
India	0.6	0.5	1.5	0.9	14.5%
Vietnam	3.8	2.7	2.7	0.1	-70.3%
Others	0.1	0.2	0.3	0.1	0.0%
Total	15.0	16.9	24.1	18.9	8.0%

Top Suppliers of Inner Tubes, of Rubber to Ghana in 2022:

China (13.2M units)
India (1.0M units)

Exports of Inner Tubes, of Rubber in Ghana

In 2022, shipments abroad of inner tubes, of rubbers decreased by -16.8% to 135K units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 198%. Over the period under review, the exports hit record highs at 162K units in 2021, and then reduced notably in the following year.

In value terms, inner tubes, of rubber exports reduced notably to $501K in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2020 with an increase of 167% against the previous year. The exports peaked at $619K in 2021, and then dropped remarkably in the following year.