Ghana's imports from Africa hit 3.2m metric tonnes

Ghanas total import from the Africa region for the year 2016 stood at 3.2 million metric tonnes.

This represents an increase of 1.1 million metric tonnes increase as compared to the 2015 figure.

According to the Ghana Shippers Authority’s reports,major items imported from the Africa regions as liquid bulk cargoes mainly crude oil, LPG and petroleum products.

Liquid bulk cargo therefore saw an increase of 94% over the 2015 figure.

The chief Executive Officer of the Ghana Shippers’ Authority, Dr. Kofi Mbiah lamented on the low rate of trade between Ghana and the West African sub-region.

This he believes must be re-looked at to find ways and means to increase import within the sub region.

“Imports from other African countries accounted for 27% share of Ghana’s import trade and the large part of it is as a result of the importation of crude oil and that impact is significantly because indeed trade between our country and the West African sub-region is very small, nothing to write home about”.

Ghana is the 84th largest export economy in the world and the 127th most complex economy according to the Economic Complexity Index (ECI).

In 2015, Ghana exported $10.5B and imported $13.8B, resulting in a negative trade balance of $3.28B. In 2015 the GDP of Ghana was $37.5B and its GDP per capita was $4.21k.

Imports

In 2015 Ghana imported $13.8B, making it the 88th largest importer in the world. During the last five years the imports of Ghana have increased at an annualized rate of 6%, from $10.2B in 2010 to $13.8B in 2015. The most recent imports are led by Refined Petroleum which represent 6.81% of the total imports of Ghana, followed by Gold, which account for 2.2%.

The top import origins of Ghana

The top export destinations of Ghana

Trade Balance

As of 2015 Ghana had a negative trade balance of $3.28B in net imports. As compared to their trade balance in 1995 when they still had a negative trade balance of $484M in net imports.

Ghana's imports from Africa hit 3.2m metric tonnes

Ghanas total import from the Africa region for the year 2016 stood at 3.2 million metric tonnes.

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