Non-Traditional Exports hit 2.4 billion dollars in 2011
6/8/2012 8:30:22 PM -
Accra, June 8, GNA - Non-Traditional Exports (NTEs) amounted to 2.423 billion dollars in 2011, representing an increase of 48.74 per cent in value over the 1.629 billion dollars recorded in 2010.
Dr Kwadwo Owusu Agyeman, Chief Executive Officer of Ghana Exports Promotion Authority (GEPA), announced this at the launch of 2011 NTEs performance and the National Awards for Export Achievement in Accra on Friday.
He said earnings from three main sub-sectors: agriculture, processed and semi-processed products as well as handicrafts contributed to the growth.
Dr Agyeman attributed the success in 2011 to the enterprise development approach adopted by GEPA in which key companies were targeted and supported to be able to export and better collaborate with stakeholders as well as exporters involvement in planning and management of trade fairs.
Exports from the agriculture sector, which includes export of fruits and cashew, grew by 80 per cent to 296.97 million dollars in 2011 from 164.93 million dollars in 2010, while processed and semi-processed goods went up to 2.122 billion dollars.
Handicrafts saw a 28.42 per cent jump in proceeds to 3.57 million dollars compared to 2.78 million dollars.
Cocoa paste, canned tuna, cocoa butter, cashew nuts and articles of plastics are among the top 10 leading products performers during the period under review.
Dr Agyeman said the non-traditional products were exported to 146 countries with the European Union accounting for 45.72 per cent of the exports.
The ECOWAS Region had about 27.04 per cent with the rest shared between other African countries and the rest of the world.
On country basis, the Netherlands, United Kingdom and France are the three top European countries receiving exports from Ghana while Togo is the highest ranked destination for NTEs in the ECOWAS Sub-Region.
Dr Agyeman said review of the NTE sector revealed that the sector was currently being driven by value added products with strong supply base such as cocoa and canned tuna.
He said GEPA would intensify efforts to tap into the growth potentials in non-traditional exports (NTE) to the West African Sub-Region.
Dr Agyeman said the outlook for 2012 was bright acknowledging government's support to the sector through its agencies by making credit and training available to the exporters and appealed to government to cede part of the oil revenue to support the development of NTEs to avoid over reliance on the oil industry.
Ms Hannah Tetteh, Minister of Trade and Industry, who launched the 2011 NTE statistics and the National Awards, said the ECOWAS market offered a great deal of opportunity that GEPA must exploit.
She encouraged GEPA to build a national logistics strategy and warehousing facility to ensure quality assurance of products.