Ghana’s Non-Traditional Exports (NTEs) has shown a growth of 10 percent in 2018, the highest in recent years, largely driven by the performance of the cashew industry.
According to the Ghana Export Promotion Authority report, more than US$2.8 billion was realised last year with the cashew industry seeing 43.8 percent increase in its earnings at a value of US$378.2 million, making it the main driver of the NTEs. In 2017, the total revenue generated from NTEs was US$2.5 billion.
NTEs are grouped into three, namely: agricultural goods, processed and semi-processed goods, and handicrafts. The processed and semi-processed was the largest contributor with 78.5 percent, followed by agriculture with 21 percent, and handicraft with 0.46 percent.
The 2018 revenue from the NTEs represent 19 percent of the total exports of the country which was valued at US$14.9 billion in 2018, one percentage point higher than 2017 when total exports hit US$13.9 billion.
Further details of the report, however, reveals that intra-Africa trade still remains low as a chunk of the NTEs went to Europe.
Products were largely exported to European market with a value of US$1.1 billion representing 41 percent; ECOWAS followed with US$741.6 million representing 26.3 percent; other countries [not specified] US$722.5 million which represents 25.7 percent; other developed countries US$160.9 million also representing 5.7 percent; and other African countries US$42.8 million which makes up 1.5 percent of the total NTEs.
Top ten leading products of the NTEs include banana, iron rods and sheets, cocoa powder, cocoa cake, canned tuna, aluminum plates and sheets, cashew nuts, cocoa butter, and cocoa paste — indicating that most of the top selling exports are cocoa products.
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