Forecast: Metals Consumption in Ghana

The consumption of metals in Ghana has shown a fluctuating yet generally upward trend over the past decade, reaching 35.49 units in 2023. Following a notable dip in 2015, consumption has steadily increased, with a year-on-year variation of 0.97% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years is 0.87%, indicating modest but consistent growth.

From 2024 onwards, the forecast predicts a continued rise in consumption, reaching 37.06 units by 2028 with a 5-year CAGR of 0.69% and a 5-year growth rate of 3.49%. This suggests a slower yet positive growth trajectory.

Future trends to watch for include:

• Structural economic changes in Ghana that may influence industrial demand.
• The impact of global metal prices and trade policies on local consumption.
• Technological advancements and sustainability initiatives within the metals industry.