Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports.
The countries are Switzerland, China, Canada and South Africa.
The report further indicated that over two-thirds of all exports come from only two specific products, gold bullion and crude petroleum oil.
Imports on the other hands have about 126 commodities contributing to two-thirds of all imports.
Professor Samuel Kobina Annim, the Government Statistician, presenting the report’s findings, said the data serves as a valuable tool for policymakers, economists, and stakeholders alike, providing essential insights to inform future strategies aimed at fostering a more balanced and resilient trade environment.
The report revealed that Ghana’s three main export products are gold (37.5%), mineral fuels and oils (30.6%), and cocoa beans and products (12.4%), which constitute over 80.0 percent of all exports.
Mineral fuels and oils account for more than a quarter (26.8%) of total imports, followed by machinery and electrical equipment (13.3%) and chemical products (10.7%).
Ghana’s trade relations, both exports and imports, are predominantly with Europe, constituting more than a third of all exports (35.9%) and imports (39.2%).
This is followed by Asia, with 28.5 percent of all exports and 37.2 percent of imports.
Source: Citinewsroom