• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • World
GEPA reports 6% growth in Non-Traditional Export earnings

GEPA reports 6% growth in Non-Traditional Export earnings

3 May 2023
Parliament approves 7 loan agreements totaling $710m

Parliament discusses legislation to regulate Artificial Intelligence

8 June 2023
Frimpong-Boateng’s report contains catalogue of grievances and hearsay – Presidency

OSP probe: I’m not scared of prosecution – Prof. Frimpong-Boateng

8 June 2023
Anthrax outbreak: Vaccination of animals in Upper East starts today

Anthrax outbreak: Vaccination of animals in Upper East starts today

8 June 2023
Parliament approves 7 loan agreements totaling $710m

Parliament guarantees passage of Intestate Succession Bill

8 June 2023
Frimpong-Boateng’s report contains catalogue of grievances and hearsay – Presidency

I would’ve been one of the richest, if I were a thief – Frimpong-Boateng

8 June 2023
Frimpong-Boateng’s report contains catalogue of grievances and hearsay – Presidency

Frimpong-Boateng narrates encounter with OSP after his ‘arrest’

8 June 2023
Sekondi NDC parliamentary candidate stopped from fixing market.

Sekondi NDC parliamentary candidate stopped from fixing market.

8 June 2023
IMF staff to visit Ghana to monitor Economic Recovery Programme

#KenMustGo: NPP MPs will decide Ken’s fate – Majority leader declares

8 June 2023
Charles Opoku wins NPP Assin North parliamentary primary

Charles Opoku wins NPP Assin North parliamentary primary

7 June 2023
GBC staff to return ‘unearned’ allowances worth GH¢2 million

NLC summons GBC staff, FWSC over blocked allowances impasse

7 June 2023
Parliament approves Gertrude Torkornoo as Chief Justice

Parliament approves Gertrude Torkornoo as Chief Justice

7 June 2023
Stop giving cash to child beggars – Minister pleads

Claims all school feeding caterers are NPP members untrue – Gender Minister

7 June 2023
ADVERTISEMENT
  • Advertise
Friday, June 9, 2023
abcnewsgh
  • Home
  • News
  • Politics
  • Business
  • Sports
No Result
View All Result
abcnewsgh
No Result
View All Result
Home Business

GEPA reports 6% growth in Non-Traditional Export earnings

by Newsroom
3 May 2023
in Business, News
0
GEPA reports 6% growth in Non-Traditional Export earnings
12
VIEWS
ShareTweetSendSend

The Ghana Export Promotion Authority (GEPA) has announced a significant 6% increase in the country’s Non-Traditional Export (NTE) earnings for the year 2022.

Launching a Report on the Analysis of the 2022 Non-Traditional Export Statistics, Deputy Minister for Trade and Industry, Dokua Asiamah-Adjei expressed satisfaction at the growth and acknowledged the resilience of Ghana’s NTEs in the midst of global economic challenges. She commended the efforts of individuals within the export value chain and the export fraternity for their relentless work, which contributed to the positive outcome of the 2022 NTE statistics.

“It is, therefore, refreshing to see that our NTEs have continued to show resilience in the face of global economic challenges. I am very pleased with the outcome of the 2022 Non-Traditional Exports statistics, as it is a testament of the relentless work put in by every individual along the export value chain/export fraternity.

“Overall, the NTEs increased by 6%, or USD3,531,048,234 over the previous year and accounted for over 20.22% of total export earnings over the same period. It is no doubt that the implementation of the NEDS by GEPA and relevant stakeholders contributed to this positive growth and if we maintain our resilience and hard work, accomplishing the strategy’s aim in the next ten years will be a walk in a park,” she said.

Providing more details on the report, the Chief Executive Officer (C.E.O) OF GEPA, Dr. Afua Asabea Asare said the NTEs, which encompass a range of diversified products, recorded earnings amounting to US$3,531,048,234 in 2022, compared to US$3,330,317,588 in the previous year. This growth has been attributed to a combination of structural changes within Ghana’s NTE ecosystem and the effective implementation of the National Export Development Strategy (NEDS).

Dr. Asare highlighted the factors driving this impressive growth. “We are delighted to report a 6% increase in Ghana’s Non-Traditional Export earnings for 2022. This positive trend can be attributed to the successful implementation of the National Export Development Strategy and the strategic changes made within our NTE ecosystem,” she stated.

According to the CEO, the implementation of the NEDS played a crucial role in facilitating the growth of the NTE sector. The strategy focused on enhancing market access, improving product quality and standards, promoting value addition, and exploring emerging markets. These initiatives have led to an overall strengthening of Ghana’s NTE sector and a diversification of its export offerings.

Highlighting the top ten NTE products for 2022, Dr. Asare mentioned cocoa paste, cashew nuts, cocoa butter, iron and steel circles, rods, sheets, billets, articles of plastics, aluminium plates, sheets and coils, canned tuna, natural rubber sheets, cocoa powder, and shea oil. Notably, cocoa paste emerged as the highest earner, contributing US$520.3 million, followed by cashew nuts with US$294.2 million. Shea oil ranked as the lowest earner with US$92.6 million.

The cumulative value of the top ten products accounted for US$2,150,085,426, representing 60.9% of the total NTE earnings in 2022. The average earning of the top ten earners was recorded at US$215.0 million.

Dr. Asare further emphasized the market destinations for Ghana’s NTEs, highlighting the five distinct groups including the ECOWAS, the European Union (EU) & United Kingdom, Other Developed Countries, Rest of African Countries, and Emerging Countries. The CEO noted that the ECOWAS market remained the leading destination, accounting for 34.59% of the total market, followed closely by the EU & UK markets, contributing 31.90%.

Burkina Faso emerged as the leading market destination for Ghana’s NTEs, with a consumption value of US$425.01 million, representing a 16% increase from the previous year. Togo followed with a significant 21% increase, consuming US$198.05 million in 2022 compared to US$156.88 million in 2021.

This the GEPA CEO expressed her optimism for the future of Ghana’s NTE sector, citing the continuous efforts to diversify products, explore new markets, and enhance competitiveness.

Tags: Dokua Asiamah-AdjeiDr Afua Asabea AsareGEPANTETrade
ShareTweetSendSend
Newsroom

Newsroom

Related Posts

Parliament approves 7 loan agreements totaling $710m
News

Parliament discusses legislation to regulate Artificial Intelligence

8 June 2023
Anthrax outbreak: Vaccination of animals in Upper East starts today
News

Anthrax outbreak: Vaccination of animals in Upper East starts today

8 June 2023
GBC staff to return ‘unearned’ allowances worth GH¢2 million
News

NLC summons GBC staff, FWSC over blocked allowances impasse

7 June 2023

Recent Posts

  • Parliament discusses legislation to regulate Artificial Intelligence 8 June 2023
  • OSP probe: I’m not scared of prosecution – Prof. Frimpong-Boateng 8 June 2023
  • Anthrax outbreak: Vaccination of animals in Upper East starts today 8 June 2023
  • Parliament guarantees passage of Intestate Succession Bill 8 June 2023
  • I would’ve been one of the richest, if I were a thief – Frimpong-Boateng 8 June 2023
  • Trending
  • Comments
  • Latest
China displeased with Ghana media misreporting of IMF deal

China displeased with Ghana media misreporting of IMF deal

25 May 2023
Bawumia declares 2024 presidential bid

Group picks up NPP’s flagbearership forms for Bawumia.

26 May 2023
PURC increases electricity tariff by 18.36%

PURC increases electricity tariff by 18.36%

17 May 2023
Kojo Oppong Nkrumah

I forgive you – Oppong Nkrumah to Frimpong Boateng

24 April 2023
THREE NEW TAX BILLS GET APPROVED BY PARLIAMENT

THREE NEW TAX BILLS GET APPROVED BY PARLIAMENT

0
Don’t fault Minority for passage of new taxes – Sam George

Don’t fault Minority for passage of new taxes – Sam George

0
Kumawu seat declared vacant

Kumawu seat declared vacant

0
NDC primaries: 85 parliamentary aspirants cleared in Ashanti; 71 in Eastern

NDC primaries: 85 parliamentary aspirants cleared in Ashanti; 71 in Eastern

0
Parliament approves 7 loan agreements totaling $710m

Parliament discusses legislation to regulate Artificial Intelligence

8 June 2023
Frimpong-Boateng’s report contains catalogue of grievances and hearsay – Presidency

OSP probe: I’m not scared of prosecution – Prof. Frimpong-Boateng

8 June 2023
Anthrax outbreak: Vaccination of animals in Upper East starts today

Anthrax outbreak: Vaccination of animals in Upper East starts today

8 June 2023
Parliament approves 7 loan agreements totaling $710m

Parliament guarantees passage of Intestate Succession Bill

8 June 2023
abcnewsgh

Copyright © 2023 ABCNewsGH.

Navigate Site

  • Advertise

Follow Us

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sports

Copyright © 2023 ABCNewsGH.