Advertisement
Advertisement
Ghana News

Ghana’s Export of Services and Non-Traditional Products in 2022: A Look at the Numbers

Advertisement

Ghana recorded a significant increase in non-traditional export (NTE) earnings and trade in services in 2022, according to the Ghana Export Promotion Authority (GEPA). The country earned $8 billion for services exports, including medical professionals, IT solutions, and research and development, among others. The NTE sector earned $3.5 billion, a 6% increase from 2021.

GEPA attributed the growth to the effective implementation of the National Export Development Strategy (NEDS) and structural changes within the NTE ecosystem. Cocoa paste and cashew nuts were the highest earners in the top 10 NTE products, with Burkina Faso being the leading destination for Ghana’s NTEs. GEPA’s CEO, Dr Afua Asabea Asare, expressed hope for Ghana’s NTE sector, citing continuous efforts to diversify products, explore new markets, and enhance competitiveness.

Advertisement

The GEPA CEO dismissed concerns about the government’s decision to access $3 billion from the International Monetary Fund despite the country’s 2022 earnings. Dr Asare said the government needed the funds to finance more physical infrastructure projects. The CEO also noted that the modes of delivery and capturing of service export data were different from those of merchandise exports.

For the most part, Ghana’s 2022 NTE earnings showed growth in the country’s export offerings and market access, with increased value addition and product quality. The NEDS’s effective implementation and strategic changes within the NTE ecosystem played significant roles in the growth. Cocoa paste and cashew nuts were the highest earners, and Burkina Faso emerged as the leading destination for Ghana’s NTEs. Dr Asare expressed optimism for the NTE sector, citing ongoing efforts to diversify products and explore new markets.

Advertisement
Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker!