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24.05.2005 Business & Finance

Ghana Earns Over $705m From Non-Traditional Exports

By Ghanaian Chronicle

Ghana earned over US$705 million from the export of non-traditional products last year.

According to statistics on the performance of Non-Traditional Export (NTE) sector released to the Business Chronicle by the Ghana Export Promotion Council, Ghana fetched a total of US$705,428,837, representing a 19.79% increase over the 2003 figure of US$588,882,315.

Of the total contribution, processed and semi processed products contributed US$540,375,135, representing 76.60% whilst Agricultural products earned US$159,850,767, forming 22.66%.

Handicrafts however recorded US$5,202,935, representing 0.71%.

The non-traditional products from Ghana were mainly exported to ECOWAS countries, other African countries, the European Union, other developed countries and other countries.

Exports to ECOWAS countries fetched the country US$115.5 million (16.37%) and those to the other African countries brought to the country 26.8 million.

Exports to the European Union contributed the highest, with US$379 million forming 53.76% of the total earnings.

Earnings from other developed countries were US$118.9 million, forming 16.86% whilst other countries earned Ghana US$64.97 million.

In an interview with the General Manager of the Ghana Export Promotion Council, Mr. K. Adu Mensah told the Business Chronicle that earning from NTE has been increasing over the years and would substantially contribute greatly to the economy of the country in the future.

He said government was doing its best to make that dream possible with the provision of US$2 million to SPEG to help farmers plant a new breed of pineapple- MD2- which is taking over the pineapple market in Europe.

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