Ghana's imports of ores and metals have shown varied trends over the years, reflecting fluctuations. Between 2013 and 2023, the imports oscillated significantly, declining sharply by 35.48% in 2014 but subsequently recovering and increasing through to 2023. The most notable increases occurred in 2016 and 2018, with year-on-year growth of 37.07% and 16.37% respectively. Recently, from 2021 to 2023, the imports have stabilized, showing minimal annual variations of around 0.4%.
Looking forward, from 2024 onwards, the forecast data suggests a modest and stable growth trend with a 5-year compounded annual growth rate (CAGR) of 0.29%. By 2028, expected import levels would slightly increase, indicating a consistent but moderate positive outlook.
Future trends to watch for:
- Technological advancements in extraction and processing industries which may impact import needs.
- Global metal and ore market fluctuations due to geopolitical changes.
- Ghana’s domestic policy changes and infrastructure investments that might affect import dynamics.