Ghana Exports: Good News Continues
Notwithstanding the global downturn due to
the protracted economic crisis, the export industry in Ghana has
achieved some notable milestones recently and independent
analysts have predicted a rise in the exports of certain
commodities relatively unique to the geographical region which
Ghana occupies. It proves worthwhile to examine some of the most
recent exporting news in greater detail.
The Top Exporting Companies in Ghana
In 2012 a number of the most successful
companies in Ghana have received awards celebrating their
contributions to overall GDP and domestic economic growth.
Approximately fifty companies were recognised at this event. The
companies which were awarded exported a range of goods and
products. The premiere award was given to Interplast Limited
which is a large exporter of plastics while another successful
company by the name of Excel Industries Limited was honoured for
its contribution to the exportation of aluminum kitchen
utensils. These non-perishable companies were not the only
noteworthy firms included, however. As Ghana itself is a
globally recognised exporter of many perishables, additional
companies were also included that exported a number of
foodstuffs ranging from cocoa butter to nuts and legumes.
During this presentation, the government announced a four year
plan which is intended to develop the unrealised potential of
the non-traditional export sector. This strategy is currently
under development and is predicted to strengthen Ghana’s gross
national product levels. This will increase opportunities for
employment and contribute to enhancing the middle class status
of Ghana’s population.
This ambitious plan does not come without a price tag, however.
It was duly noted that to accomplish this feat the existing
domestic infrastructure must be improved to help ensure
logistical success. The government has accordingly pledged 500
million dollars towards improving access to its major ports as
well as renovate the existing railway lines.
In an era where African nations are increasingly interconnected
to export and trade ties, it has become altogether apparent that
having a positive trade balance is essential for internal
development in Ghana. These improvements are intended to
increase Ghana’s current market share in the Economic Community
of West African States to nearly one billion dollars in two
years’ time. Indeed, these figures do seem within reason when
considering that non-traditional exports have increased nearly
fifty percent since 2011. The government has said that by
enacting their ambitious two year plan continued export growth
will be achieved.
Although non-traditional exports have highlighted this recent
growth phase, the more traditional papaya plant which is native
to the region also may represent a financial boon in Ghana’s
near future. Due to Ghana’s natural climatic conditions and
geographical location, the cultivation of papaya may allow Ghana
to become a chief exporter of the fruit to both Europe and the
west. When taking into account Ghana’s close proximity to Europe
in particular, the country could have a distinct logistical and
transport advantage over traditional producers such as Brazil
and Ecuador. This closer proximity will lead to cheaper prices
for the consumer, fresher fruits and an increased market share
which has been dominated by South America.
This position is further bolstered when examining the recent
introduction of the golden papaya into the region. This variety
has led to increased crop yields of up to forty percent and can
greatly aid in lowering the cost of exports to consumer nations.
Nonetheless, continued investment needs to take place across the
spectrum of Ghana’s export sector should any of these future
plans be fully realised. Should this pace continue and capital
continue to be allocated to this burgeoning sector, Ghana stands
to benefit greatly from its exports and likewise the population
will enjoy a higher standard of living.
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