The report stated that the growth was because of the increase in the export of cashew which increased by 43.84%. This is due to the increased demand in Vietnam and increased yield of quality nuts among other factors.
Ghana made $2.8bn from non-traditional exports in 2018
A report by the Ghana Export Promotion Authority has revealed that the Value of Ghana’s Non-Traditional Exports increased from the US$2.6 billion recorded in 2017 to US$2.8 billion in 2018.
Ghana’s non-traditional export sector
The country’s Non-Traditional Export sector is made up of three sub-sectors including Agriculture, Processed/Semi Processed and industrial Art and Craft products.
Although total exports attained an annual average growth of 4.30% over the past 5 years, there was a dip from 2014 through to 2016.
But there was an increase in 2017 where total exports reached US$2. 6 billion. This increased by 10% in 2018.
The main driver of this growth which is cashew recorded $262 million as export value for 2018.
Countries where products are exported to
The European Union, specifically the Netherlands maintained its position as Ghana’s biggest market for Non-Traditional exports while Burkina Faso came top as Ghana’s biggest market within the ECOWAS region.
The GEP said going forward, it will concentrate on how to increase the exports to other African Countries.
“Already, Ghana is doing well in promoting and marketing its products to other countries in the region. But now that the ACFTA is here, we will take full advantage of the benefits there are,” Chief Executive Officer of the Ghana Exports Promotion, Afua Asabea Asare told Accra-based Citi FM.
Afua Asabea Asare said that her outfit is doing all it can to maintain the growth.
“When exports go up, we are going to see our economy grow and our cedi will go up. We appreciate what our exporters are doing. And helping them when they need support have all contributed to this growth.”
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: