Ghana - Silver Including Silver Plated With Gold or Platinum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGhana: Silver Market 2024
Silver Market Size in Ghana
The Ghanian silver market was estimated at $X in 2023, with an increase of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Silver consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.
Silver Production in Ghana
In value terms, silver production reached $X in 2023 estimated in export price. Overall, production, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Silver production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.
Silver Exports
Exports from Ghana
In 2023, overseas shipments of silver including silver plated with gold or platinum were finally on the rise to reach X kg after two years of decline. Over the period under review, exports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
In value terms, silver exports surged to $X in 2023. In general, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Exports by Country
South Korea (X kg) was the main destination for silver exports from Ghana, with a X% share of total exports. Moreover, silver exports to South Korea exceeded the volume sent to the second major destination, Burkina Faso (X kg), fivefold. The third position in this ranking was taken by Cote d'Ivoire (X kg), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Cote d'Ivoire (X% per year).
In value terms, South Korea ($X) emerged as the key foreign market for silver including silver plated with gold or platinum exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with less than X% share of total exports. It was followed by the United Arab Emirates, with less than X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and the United Arab Emirates (X% per year).
Export Prices by Country
In 2023, the average silver export price amounted to $X per kg, increasing by X% against the previous year. Over the period under review, the export price posted a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per kg), while the average price for exports to Mali ($X per kg) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced a decline.
Silver Imports
Imports into Ghana
In 2023, silver imports into Ghana skyrocketed to X kg, rising by X% on the previous year's figure. Over the period under review, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X kg in 2015; however, from 2016 to 2023, imports remained at a lower figure.
In value terms, silver imports contracted to $X in 2023. Overall, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.
Imports by Country
South Korea (X kg), South Africa (X kg) and Italy (X kg) were the main suppliers of silver imports to Ghana, together accounting for X% of total imports. India, Germany, Canada, the UK, Australia, Belgium, Austria and China lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, South Africa ($X), Australia ($X) and Italy ($X) were the largest silver suppliers to Ghana, together accounting for X% of total imports. The UK, Germany, Canada, India, South Korea, Austria, Belgium and China lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average silver import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price showed a pronounced curtailment. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X,750 per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the silver market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
- Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)
Country coverage:
- Ghana
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Ghana
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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