Top 10 Ghana Export Products

Top 10 Ghana Export Products

• Ghana is a country that has vast resources from which it can earn considerable revenue through exports. Exports are necessary for any growing economy, as they bring in vital foreign exchange that is needed for development and payment of goods and services.
• Ghana export products are channeled through its two principal seaports – Tema and Takoradi. The turnaround time at these ports is one of the fastest in West Africa and as such, many importers and exporters prefer to dock their ships there.
• In 2016, Ghana shipped goods worth US$ 10.7 billion around the world. Considering that Ghana’s population has approximately 27.5 million people, these figures translate to roughly $370 for every resident!

Ghana Export Promotion Authority (GEPA)

• GEPA is the government (public) agency that promotes and markets Ghana’s products internationally. This organization is solely responsible for making sure Ghanaian exports make it to external markets, by facilitating the development of new export products as well as promoting existing products.
• GEPA focuses on diversifying the traditional Ghana export base from conventional products like gold, cocoa beans, timber, lumber and unprocessed minerals. It is currently encouraging the export of non-traditional products like handicrafts and agricultural products.

According to the Ghana Export Promotion Authority, Ghana export products are classified as follows:

• Traditional Products

1. Cocoa Beans
2. Timber
3. Gold
4. Minerals
5. Electricity

• Non-traditional products

1. Agricultural – vegetables, spices, horticultural products, rubber, oil seeds, nuts, fish and fish products, tubers
2. Processed or semi-processed products
3. Handicrafts

What are the Top Ten Ghana export products?

1. Gems and precious metals, primarily gold

• These currently bring in about US$ 4.4 billion, accounting for 41.6% of the export revenue.

2. Cocoa beans

• Ghanaian cocoa is very popular worldwide. Exports of cocoa bring in US$ 1.9 billion, 17.8% of Ghana’s export revenue.

3. Mineral fuels, especially oil

• Oil from Ghana brings in US$ 1.4 billion, or 13% of the export revenue.

4. Fruits and nuts.

• These items, especially Ghanaian cashews, are not only popular in West Africa, but also in other countries around the world. They bring in US$ 992.4 million, coming to 9.3% of the export revenue.

5. Wood

• Ghanaian wood is renowned the world over for its durability and strength. It brings in US$ 482.2 million, accounting for 4.5% of the export revenue.

6. Plastics and plastic articles

• Ghana has a thriving plastics industry and exports its products to West Africa and other countries worldwide. Exports of plastic bring in US$308.5 million, or 2.9% of export revenue.

7. Inorganic chemicals

• Inorganic chemicals bring in US$ 204 million, contributing 1.9% to the export revenue.

8. Slag, ores, and ash

• These three items contribute US$ 143.3 million (1.3%) to the Ghanaian economy.

9. Animal//Vegetable fats, waxes and oils

• These products are used by people all over the world for cooking, beauty and medicinal purposes. As a result, they bring in US$ 115.3 million, 1.1% of the export revenue.

10. Pharmaceuticals

• Ghana’s growing pharmaceutical industry earns US$78.3 million, or 0.7% in exports to the economy.

Ghana export products have found ready markets in many countries around the world. Ghana’s top export destinations are Switzerland, India, United Arab Emirates, China, and Vietnam, while other growing markets include Burkina Faso, South Africa, United Kingdom and Netherlands.