July 6, 2022

Ghana’s Non-Traditional Exports Records $3.33 billion in 2021

The country’s Non-Traditional Exports (NTEs) earnings increased from $2.847 billion in 2020 to $3.33 billion in 2021, representing an increase of 17 % during the period under review.

This was reported at the 2021 NTE statistics launch by the Ghana Export Promotion Authority in Accra at the Ministry of Information.

Over the past five years (2017 to 2021), Ghana’s Non-Traditional Exports (NTEs) grew at an annual average rate of 7.07% and contributed 22.62% to the total national merchandise exports of Ghana in 2021.

According to the report, the top 10 leading products which comprise Cocoa Paste, cocoa butter, cashew nuts, articles of plastics, canned tuna, iron/steel, natural rubber sheets, refined palm olein, cocoa powder, and aluminum plates contributed about $2.096bn representing 62.96% of the total NTE earnings for 2021.

Processed and Semi-processed Sector

The report revealed the processed and semi-processed sector earnings amounted to US$ 2.809 million, depicting an increase of 17.88 compared to US$ 2.382.98 million earned in 2020. The increase was mainly due to high performance of cocoa butter, natural rubber sheets, cocoa powder, refined palm olein, and aluminum plates, sheets and coils.

Agricultural Sub-Sector Export

Total earnings from the Agricultural sub-sector in 2021 amounted to US$476.01 million compared to US$433.02 million earned in 2020, showing an increase of 9.93%. The subsector contributed 14.29% to the total NTE earnings in the year under review.

In her opening remarks, the CEO of GEPA, Dr. Afua Asabea Asare who shared highlights of the report indicated that their organisation came to terms with using technology primarily for several aspects of its promotional efforts where it hitherto heavily relied on in-person tactics.

“Business summits, Trade shows, Global seminars and Exhibitions were all running either virtually or in hybrid mode, utilizing all available resources to promote exports and strengthening exporters’ capacities”

She iterated that there’s a lot we can do to turn things around – if we set our minds to being export-oriented and aligning our operations to the pillars of the National Export Development Strategy.

In 2021, Ghana exported to 152 countries and the EU and UK markets continue to top export destinations contributing 35.96% to total market value.

The Deputy Minister for Trade and Industry, Herbert Krapa, who performed the official launch of the 2021 NTE statistics said, the report helps the Ministry of Trade and Industry (MOTI) to analyze the impact NEDS is making on the overall development agenda. The Government’s vision is set to move the NTE in 2019 from US$2.8 billion to US$25.3 billion in 2029 and this means the Ministry and GEPA will have to constantly review the performance periodically to access and align resources.

“The statistics report allows us to mainstream the NEDS and export agenda into the overall global industrial transformational agenda that the Ministry is pursuing. We cannot export if we are not producing, and we cannot export if we don’t add value to our products. All the other areas; industrial revitalization program, IDIF, domestic retail infrastructure, SME development and all these programs are crucial for the development of the opportunities to re-evaluate how further mainstream export can develop into the industrial transformational agenda” he explained.

This growth associated with the NTE sector relative to the Traditional sector exhibits buoyancy of the NTE sector. The impressive showing of the NTE sector in 2021 over 2020 was due to a general increase in demand for major processed /semi-processed NTE products, expansions of and optimum running of installed capacities of some major companies, as well as exportation by some new 1D1F export-oriented companies, adherence to protocols of the ECOWAS Trade Liberalization Scheme (ETLS) by most member States, and relentless trade facilitation efforts by GEPA under the auspices of the Ministry of Trade and Industry.

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