Earnings from non-traditional exports (NTEs) grew in Ghana from $2.847 billion in 2020 to $3.33 billion in 2021, an increase of 17% over the studied period.
The Ghana Export Promotion Authority announced this during the 2021 NTE statistics announcement in Accra.
NTEs have increased during the previous five years (from 2017 to 2021) at an average annual rate of 7.07 percent, accounting for 22.62 percent of Ghana's total national goods exports in 2021.
Approximately $2.096 billion, or 62.96 percent of the total NTE earnings for 2021, was contributed by the top 10 leading products, which included cocoa paste, cocoa butter, cashew nuts, articles of plastic, canned tuna, iron/steel, natural rubber sheets, refined palm olein, cocoa powder, and aluminium plates.
Sector for finished and semi-finished goods
According to the study, revenues for the processed and semi-processed industry were $2.809 billion, an increase of 17.88 percent over the 2.382 billion generated in 2020. The strong performance of cocoa butter, natural rubber sheets, cocoa powder, refined palm olein, and aluminium plates, sheets, and coils was primarily responsible for the rise.
Exports in the agricultural subsector
In comparison to the $433.02 million earned in 2020, the agriculture sub-sector generated $476.01 million in total revenue in 2021.
This indicated a rise of 9.93%.
14.29 percent of the total NTE profits in the studied year came from the subsector.
The CEO of GEPA, Dr. Afua Asabea Asare, who provided highlights of the study in her opening remarks, mentioned that their organisation came to grips with employing technology largely for numerous parts of its promotional activities after relying significantly on in-person techniques in the past.
Business summits, trade shows, global seminars, and exhibitions all took place remotely or in a hybrid format, leveraging all resources available to promote exports and build the capacities of exporters.
She emphasised that "if we put our minds to being export-oriented and aligning our operations to the pillars of the National Export Development Strategy," there is plenty we can do to turn things around.
Ghana sold goods to 152 nations in 2021.
The EU and UK remain the biggest export destinations, accounting for 35.96% of all exports.
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