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 Honoured

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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