- A 3.1 percent increase in revenue from non-traditional exports resulted in $2.899 billion revenue for Ghana in 2019
- According to the Ghana Export Promotion Authority, revenue stood at $2.813 billion in the preceding year
- The Ministry of Trade has given the assurance of a congenial atmosphere for business for everyone
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There was a 3.1 percent increase in earnings from non-traditional exports (NTE) between 2018 and 2019, YEN.com.gh has learned.
Earnings increased to $2.899 billion from $2.813 billion the year before, according to the Ghana Export Promotion Authority (GEPA).
YEN.com.gh understands that NTE contributes about 18 percent of Ghana’s exports, which consists mainly of natural raw materials.
READ ALSO: Inflation increased by 0.2% to reach 11.4% in July - Ghana Statistical Service
Per a report by myjoyonline.com, 10 products contributed about $1.66 billion, which is 57 percent of the revenue. Information available shows that the products include cocoa butter, cashew nuts, cocoa cake, cocoa paste, and articles of plastic.
It was also realised that the processed and semi-processed sector were the main drivers, particularly from cocoa products, which contributed over $800 million.
Cashew, which was the prime contributor, dropped to the second position but was the only raw agricultural products that showed in the top 10 products.
According to the Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay, the government is determined to create an atmosphere for businesses to thrive. He said GEPA’s role will position Ghana to greatly benefit, especially with the coming of the African Continental Free Trade.
In other news, the Ministry of Trade and Industry has selected the manufacturing sector through which Ghana could experience an economic revival. Robert Ahomka-Lindsay noted that the outbreak of COVID-19 gives Ghana a unique opportunity to pursue an industrialisation agenda.
He explained that measures are in place to propel innovative strategies in the sector.
READ ALSO: Fresh report show depositors are opting for foreign currencies
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