Exports of motor vehicles, trailers, and semi-trailers from Kuwait to Ghana have shown significant variability over the years. After peaking in 2015, exports dramatically declined in 2016, stabilized at a lower level in 2017, and then experienced a resurgence in 2018. This upward trajectory has generally continued despite a dip in 2019 and 2020.
In 2023, exports stood at $346.89 thousand USD, reflecting a 1.83% increase from the previous year. Over the last five years till 2023, the compound annual growth rate (CAGR) was relatively flat at -0.18%, indicating minor overall declines in this period.
Moving forward, from 2023 to 2028, the forecasted data reflects modest but stable growth. The forecasted 5-year CAGR is 1.43%, and total growth over this period is expected to be 7.34%.
Future trends to watch for include:
- Economic conditions in Ghana, which could affect demand for imported vehicles.
- Kuwait's industrial and export policies that may influence production and pricing.
- Global shifts towards electric vehicles and their potential impact on this trade segment.
