Ghana’s non-traditional exports soar

The Ghana Export Promotion Authority (GEPA) has announced a substantial 11.75 percent increase in Non-Traditional Exports (NTEs) for the year 2023. This growth has propelled the country’s NTE earnings to 3.944 billion dollars, up from 3.531 billion dollars in 2022.

The Chief Executive Officer (CEO) of GEPA, Osafohene Dr. Afua Asabea Asare I, revealed the figures during a press briefing in Accra. She attributed the surge in NTEs to several factors, including the strategic alignment with the African Continental Free Trade Area (AfCFTA) and the successful implementation of various export promotion initiatives.

‘‘This has been brought about by various interventions, for instance, GEPA’s export school where we build the capacity of people interested in trading on the global market, manufacturers. Even those who don’t know anything about export and trading or manufacturing, we have the GEPA Impact Hub, which is a one-stop-shop for everything one needs to know, be it information, technology or understanding how to export’’, Dr. Afua Asabea Asare I revealed.

GEPA is working to expand Ghana’s export supply base through the Coconut Revitalisation Programme. The program has already distributed one million disease-tolerant coconut seedlings across 15,625 acres, with an additional 500,000 seedlings expected in 2025. This initiative is anticipated to create 350,000 jobs along the coconut value chain.

Iron and steel products emerged as the top earners, contributing 447.8 million dollars to the total NTE revenue. Other notable performers included cocoa paste, cashew nuts, and cocoa butter. Agribusiness, manufactured goods, arts and crafts, and services continued to be the primary contributors to NTEs.

The AfCFTA, which accounted for 1.78 billion dollars in NTE earnings in 2023, has presented significant opportunities for Ghana’s export industry. GEPA is actively working to position local businesses to capitalise on this single continental market.

In the agricultural sector, GEPA has been focusing on expanding Ghana’s export supply base. The Coconut Revitalisation Programme, which has already distributed one million disease-tolerant coconut seedlings, is expected to create 350,000 jobs along the coconut value chain.

Dr. Asare emphasised that the growth in NTEs is a testament to Ghana’s efforts to diversify its economy and promote sustainable development.

‘‘I am optimistic about the future and I assure of GEPA’s dedication to supporting Ghanaian exporters and fostering economic growth.’’

She furthermore noted, GEPA is committed to empowering women in the export sector through its flagship project, the SheTrades Ghana Hub. This initiative aims to provide women-led businesses with access to international markets.

By Eben Agyekum-Boateng, 3Business

 

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