Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana - 2022
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (CIF) - 2022
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (FOB) - 2022
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (CIF) - 2022
The average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $3,037 per ton in 2022, remaining stable against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 9.9% against the previous year. The import price peaked at $3,798 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
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 the United States ($4,026 per ton), while the price for the UK ($805 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (FOB) - 2022
In 2022, the average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $3,800 per ton, rising by 3.8% against the previous year. Over the period under review, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 86% against the previous year. As a result, the export price attained the peak level of $6,711 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Burkina Faso ($6,953 per ton), while the average price for exports to Congo ($1,164 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+34.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana
In 2022, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses into Ghana contracted to 6.2K tons, with a decrease of -10.9% on the year before. The total import volume increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year. As a result, imports reached the peak of 6.9K tons, and then shrank in the following year.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses contracted to $19M in 2022. The total import value increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, imports attained the peak of $21M, and then fell in the following year.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 4.6 | 6.4 | 7.2 | 5.8 | 8.0% |
| United Kingdom | 0.8 | 0.8 | 1.0 | 1.1 | 11.2% |
| United Arab Emirates | 0.1 | 0.1 | 0.5 | 0.9 | 108.0% |
| Belgium | 0.7 | 0.7 | 0.9 | 0.8 | 4.6% |
| Netherlands | 0.1 | 0.2 | 0.4 | 0.7 | 91.3% |
| Italy | 0.5 | 0.2 | 0.9 | 0.4 | -7.2% |
| India | N/A | 0.1 | 0.1 | 0.2 | 41.4% |
| Others | 10.0 | 7.7 | 10.3 | 8.8 | -4.2% |
| Total | 16.9 | 16.2 | 21.2 | 18.7 | 3.4% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to Ghana in 2022:
- France (1517.7 tons)
- United Kingdom (1417.9 tons)
- United Arab Emirates (328.7 tons)
- Belgium (214.1 tons)
- Netherlands (189.3 tons)
- Italy (110.8 tons)
- India (69.8 tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana
In 2022, approx. 21 tons of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses were exported from Ghana; which is down by -40.8% on the year before. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 442%. As a result, the exports attained the peak of 35 tons, and then dropped remarkably in the following year.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses fell rapidly to $80K in 2022. Overall, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by 336%. As a result, the exports attained the peak of $129K, and then shrank remarkably in the following year.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 63.1 | 10.6 | 42.3 | 44.5 | -11.0% |
| Burkina Faso | 21.0 | 10.0 | 20.8 | 22.4 | 2.2% |
| Togo | 16.7 | 6.2 | 10.0 | 8.4 | -20.5% |
| Nigeria | 5.9 | 2.3 | 3.8 | 3.3 | -17.6% |
| Congo | 2.0 | 0.7 | 1.2 | 1.0 | -20.6% |
| Belgium | N/A | N/A | 4.4 | N/A | 0% |
| South Africa | N/A | N/A | 19.3 | N/A | 0% |
| Others | 0.2 | N/A | 27.7 | 0.1 | -20.6% |
| Total | 109 | 29.7 | 129 | 79.6 | -9.9% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from Ghana in 2022:
- Cote d'Ivoire (9.2 tons)
- Togo (6.6 tons)
- Burkina Faso (3.2 tons)
- Nigeria (1.1 tons)
- Congo (0.8 tons)
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