Tag: Exports
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Switzerland, China two other countries account for half of all exports from Ghana
Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports. The countries are Switzerland, China, Canada and South Africa. The report further indicated that over two-thirds of all exports come from only…
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Impact of COVID-19 on commodities continues to cause decline in exports
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for the period ending February 2021 shows the value of Ghana’s total exports decreased to about 2.5 billion dollars in February 2021, from the about 2.8 billion dollars recorded during the same time in 2020. An estimated 2.2 billion dollars was spent…
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Gov’t remains committed to make Ghana commercial centre for trade – Akufo-Addo
Following the start of trading under the African Continental Free Trade Area (AfCFTA) on January 1, 2021, President Akufo-Addo has reiterated government’s commitment to ensure that adequate financial and human resources are mobilized to make Ghana the new commercial centre for trade, finance and investment on the continent. AfCFTA is an agreement among 54 African…
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Lingering impact of COVID-19 causes decline in Ghana’s trade numbers
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for November 2020, shows that the country as of October 2020 had received $12 billion from its exports this year. The value was a decrease from the $12.98 billion recorded in the same period last year. The report also showed a decrease…
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Ghana’s overall exports and imports decline due to poor oil performance
The value of Ghana’s total exports decreased to 9.6 billion dollars in the first eight months of 2020, from the 10.6 billion dollars recorded in the same period last year. This is contained in the Bank of Ghana’s Summary of Macroeconomic and Financial Data for September 2020. The report also showed a decrease in total…
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33 % reduction in trade surplus recorded for first half of 2020
Ghana’s total exports for the first 6 months of 2020 exceeded its imports by 963 million dollars. That’s according to the latest statistical figures from the Bank of Ghana. Trade Surplus refers to the amount by which the value of a country’s exports exceeds the cost of its imports. The surplus, when compared to what…
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Ghana requires a policy to reduce reliance on imports – Alhassan Andani
The CEO of Stanbic Bank, Alhassan Andani, says the challenges posed by COVID-19 should engineer a new policy that will reduce Ghana’s reliance on imports, particularly from China. According to him, Ghana can improve agriculture production and limit its export by looking at the opportunity to boost domestic production and consumption of some food commodities.…
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50% Benchmark value is still applicable – GRA
The Ghana Revenue Authority has dismissed reports that it has been directed by the Ministry of Finance to reverse the 50% benchmark value on imports. According to the Authority, the benchmark value policy also known as the discount policy continues to be implemented as originally announced by His Excellency, the Vice President, Dr. Alhaji Mahamudu…
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Ghana’s Balance of Trade hit $780m in February 2020 – BoG
Ghana’s total exports exceeded imports by 780 million dollars as at February this year, representing 1.1 percent of the total value of all goods and services produced in the country. This year’s figure is also an increase compared to the 378 million dollars or 0.6 percent of Gross Domestic Product (GDP), recorded in February 2019.…
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GEPA awards finalists of Export Project Competition
As part of plans to encourage youth entrepreneurs to pay attention to the export of their produce, the Ghana Export Promotion Authority has presented a cheque of Ghc15,000 in total to some three entrepreneurs for coming up tops in the Ghana Export Project Competition. The three were awarded after the judges evaluated about 30,000 entries.…