Top 10 Fastest Growing Imports to Ghana

Ghana, being one of the rapidly growing economies in Africa, has increased its import demands over the years. As such, this rapid rate of development has caused the demand for particular categories of imports to rise rapidly. Below is a list of the top 10 fastest growing imports to Ghana.

10. Pharmaceutical Products

• The demand for pharmaceutical products in Ghana is steadily increasing, especially because the quantities produced locally are not sufficient to meet the needs of the population. Imports currently stand at 2.4% of total imports and are worth $282.74million.

9. Animal and vegetable fats and oils, and cleavage products

• Due to the increase in population needs, the demand for animal and vegetable fats and oils, as well as cleavage products has risen to $286.4 million, or 2.4% of total imports.

8. Salt, sulfur, earth, stone, plaster, lime and cement

• As at the end of 2018, the products named above were listed as part of the top 10 fastest growing imports to Ghana. Import values stood at $384.95 million, 3.2% of total imports for that year.

7. Iron and steel

• Due to the growth of the construction industry, imports of iron and steel have also increased rapidly. At the end of 2018, imports of iron and steel were worth $433.39 million, 3.6% of total imports.

6. Articles of iron and steel

• Articles of iron and steel, also crucial for the construction industry, are also being imported in large quantities. Currently, imports of these items stand at $492.01 million, 4.1% of Ghana’s total imports.

5. Plastics

• The demand for plastics in Ghana is more than local manufacturers can handle, and as such, imports of these items have increased in recent years. Imports of plastics in 2018 stood at $584.65 million, 4.9% of total imports.

4. Cereals

• Cereals like wheat and rice are in high demand in Ghana, more than local production can handle. As a result, cereal imports have risen to $653.82 million (5.5% of import value) in recent years.

3. Electricals and electronic equipment

• Electricals and electronic equipment, used in office blocks, industrial complexes, etc. are also listed as part of the top 10 fastest growing imports to Ghana. Imports stand at 6.2% of total import value, or $735.09 million.

2. Machinery, nuclear reactors, boilers

• The increased energy needs of Ghana have led to an increase in imports of machinery, boilers and nuclear reactors. Import values are currently at $1.54 billion, or 13% of total imports.

1. Vehicles other than railway and tramway

• As population increases and businesses thrive, more and more vehicles are being imported for personal and business use. Vehicle imports stand at $ 1.85 billion, 16% of the total import value.

The information above on the top 10 fastest growing imports to Ghana will come in handy for anyone who wants to venture into the import business, is looking to see what items are in demand in Ghana, and wants to see what will bring in the most money!