GEPA CEO delivering her remarks at the event
GHANA RECORDED a 10.05 per cent growth in value for Non-Traditional Exports (NTEs) from US$2.556 billion in 2017 to US$2.813 billion in 2018.
The improvement in export is primarily attributed to a 43.84 per cent increase in exports of cashew nuts which grew from US$262.95 million in 2017 to US$378.21 million in 2018.
The information was contained in a report launched by the Ghana Export Promotion Authority (GEPA) on Monday, 2 September, 2019 in Accra.
According to the document titled “Report on Analysis of Non-Traditional Export Statistics”, NTEs contributed to 19 per cent of the country’s total export in 2018 which was estimated at US$14.973 billion.
A breakdown of NTEs performance on a sub-sector basis showed that the processed and semi-processed sector contributed to 78.53 per cent with US$2.209 billion, agriculture contributed US$591 million representing 21.01 per cent while the handicraft sector contributed 0.46 per cent of performance with US$12.9 million.
The top 10 performing products respectively were cashew nuts representing 13 per cent, cocoa butter; 10.27 per cent, cocoa paste; 10.21 per cent, articles of plastics 7.2 per cent and canned tuna representing 6.5 per cent.
The remaining products were cocoa cake; 4.05 per cent, cocoa powder; 3.35 per cent, iron steel products; 3.08 per cent, banana; 3.04 per cent and aluminium plates 3.02 per cent.
The report also disclosed that Ghana has engaged 151 countries in 2018 across different markets where the European Union was the largest market followed by Economic Community of the West African State (ECOWAS) with 41 per cent and 26.36 per cent respectively.
The remaining markets were other countries making up 25. 68 per cent of total market, other African countries outside ECOWAS that formed 1.52 per cent and other developed countries contributing to 5.72 per cent of the market for Ghana.
Speaking at the launch, Chief Executive Officer of the GEPA, Afua Asabea Asare, emphasised: “I find the launch of the report significant as the establishment of the African Continental Free Trade Agreement (ACFTA) is still a trending topic, while the review of National Export Development Strategy is near completion” she said.
Head of Export Trade at the Ministry of Trade and Industry, Joshua Azure, has for his part tasked GEPA and other stakeholders not to rest on their laurels but strive hard to meet the export target of US$5.3 million for 2021.
By Issah Mohammed