Non-traditional export revenues to hit US$3.3 billion – GEPA targets

The 2012 non-traditional export performance statistical snapshots has been released. Charles B enoni Okine reports on the highlights.

The Ghana Export Promotion Authority (GEPA) intends to rake in US$3.3 billion in revenue from the export of non-traditional products from the country next year.

According to the GEPA, the move to meet the target set for the year calls for aggressive export promotion and development which should be done in collaboration with other key stakeholders.

The optimism is in spite of the Authority’s inability to meet its 2012 target which declined by 2.43 per cent to record US$2.364 billion as against US$2.423 billion.

According to report highlighting a snap shot of the statistics for the year 2012, the fall in the numbers of the year under review could be attributed to; A drop in the average price levels of some key products such as cashew nuts (about 16 per cent), cocoa paste (about11 per cent) and canned tuna which was about 33 per cent.

Again the lifting of the ban on exports of cocoa and its derivatives in Cote d’ Ivoire in 2012 limited market opportunities within the year for some key cocoa companies in Ghana; and what it described as a “unfavourable cross-border trade in cashew nuts with neighbouring countries such as Cote d’ Ivoire and Burkina Faso

From the years 2001 to 2008, non-traditional exports (NTEs) grew steadily at an annual rate of about 16.4 per cent with the highest rate of about 30.4 per cent occurring in 2007.

In 2009, the sector was hit by the global economic crisis which resulted in the fall in earnings by -9.38 per cent from US$1.340 billion in 2008 to US$1.215 billion in 2009.

In 2010 and 2011, export revenues from the sector went up by 34.1 per cent and 48.74 per cent respectively to US$1.629 billion.