Tridge summary
In 2019, Ghana's Non-Traditional Exports (NTEs) earned the country US$2.89 billion, a 3.10% increase from the previous year, contributing 8.53% to total exports. The manufacturing sector was the largest contributor to these exports, with the processed cocoa sector experiencing growth due to high demand and futures market price for cocoa products. However, the agricultural sector, led by cashew nuts, saw a decrease in performance. The Netherlands was the leading importer of Ghana's non-traditional goods, followed by Burkina Faso and Togo, with the EU market absorbing 38.18% of these exports. Despite a reduction in the EU market value compared to 2018, exports to ECOWAS increased by 12.79%. The Ghana Exports Promotions Authority (GEPA) also made strides in service exports, particularly in education, medical services, and IT sectors.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Ghana bagged US$2.89 billion from Non-Traditional Exports (NTEs) in 2019 according to figures from the Ghana Exports Promotions Authority (GEPA). The 2019 non-traditional exports earnings was 3.10 percent higher than that of 2018 which was estimated at $2.83 billion. According to GEPA, non-traditional exports accounted for 8.53 percent of total exports last year. Over the last five years (2015 to 2019), Ghana’s NTEs grew at an annual average rate of 2.97 percent and contributed 18 percent to total national merchandise exports of Ghana in 2019. The appreciation in non-traditional exports is associated with higher performance in the processed and semi-processed products sector, particularly, cocoa cake, palm oil, iron and steel products. Manufacturing was the highest contributing sector, accounting for about 84.6 percent of the total non-traditional exports. The performance of this sub-sector reflects a growth of 11.15 percent in 2019 over 2018 earnings. In ...
Source: Ghanaweb
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