Ghana Records 11.75% Non- Traditional Exports Growth

Ghana recorded a 11.75% growth in Non-Traditional Exports (NTEs) for the period between January and December 2023 contributing 24% to overall national export.

The Chief Executive of the Ghana Export Promotion Authority (GEPA) Dr. Afua Asabea Asare, who disclosed this at the Ministry of Information’s Meet the Press’ series in Accra yesterday, said NTEs earned the country $3.944 billion during the period, reflecting a rise from $3.531billion recorded in 2022.

Dr. Asare explained that the growth was led by products such as iron and steel circles, rods, and billets, which topped the earnings list with $447.8 million.

Other high-performing products include cocoa paste, $340.6 million, cashew nuts; $263.5 million, and cocoa butter recording $241.3 million.

“Agribusiness, manufactured goods, arts and crafts, and services remain the major NTE contributors, with agribusiness accounting for 12.56% of the total,” she stated.

The Chief Executive indicated that the key development driving this growth is Ghana’s strategic alignment with the African Continental Free Trade Area (AfCFTA), which accounted for $1.78 billion in Non Traditional Export earnings in 2023.

She said AfCFTA presents a huge opportunity for Ghana’s export industry, as the country works towards positioning local businesses to benefit from the single continental market.

She mentioned that GEPA was also supporting women in the export sector with its flagship project, “the SheTrades Ghana Hub” aimed at empowering women-led businesses.

“Our goal is to elevate women entrepreneurs by providing them with access to international markets. In the agricultural sector, GEPA is actively working to expand Ghana’s export supply base,” she said.

She also highlighted on the coconut revitalisation programme initiated by the government which has distributed one million coconut seedlings to farmers across the country.

She said an additional 500,000 seedlings are expected to be distributed in 2025, with the programme anticipated to create 350,000 jobs along the coconut value chain.

“This is a crucial step in increasing the output of coconut and providing employment opportunities for many Ghanaians”, she added

The Chief Executive further stated that her outfit has also embarked on other strategic interventions aimed at attracting Ghanaians particularly the youth to take up businesses in the export industry as a career.

 

Source:dailyguidenetwork.com