Thursday, 01 May

China remains Ghana's biggest import source with ₵34bn in 2023, up from ₵26.4bn of 2022

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A container ship

Ghana imported goods worth GHC33.9 billion from China in 2023.

This is an increase from GHC26.4 billion in 2022, according to the Ghana 2023 Trade Report by the Ghana Statistical Service.

The top imports were iron, steel, vehicles, automotive parts, chemical products, machinery, and electrical equipment.

China held a 22.5% share of Ghana’s imports last year, slightly down from 23.2% in 2022. Also, the Russian Federation emerged as a key trade partner, nudging off the United Kingdom from the top five, primarily with imports of mineral fuels and oils.

The Netherlands remained a significant player, supplying Ghana with mineral fuels and oils worth GHC17.3 billion. 

India and the United States swapped rankings, with India becoming the fourth-largest import source at GHC11.7 billion, while the USA held the fifth spot at GHC10.9 billion.

Per the data, 10 products made up more than a third of all imports. 

Leading the pack was diesel-automotive gas oil, with an import value of GHC27.1 billion. This was followed by light oils, motor spirit, and super at GHC22.3 billion. 

Cement clinkers came in at GHC3.2 billion, while medium oils, kerosene, and jet-type fuels amounted to GHC2.8 billion.

Other imports included cereal grains, worked but not rolled or flaked, at GHC2.7 billion, and second-hand vehicles with engine sizes ranging from 1500cc to 3000cc, totaling GHC2.5 billion. 

Herbicides, anti-sprouting products, and plant growth regulators also made the list at GHC2.3 billion.

In the heavy machinery category, self-propelled bulldozers with a 360-degree revolving substructure accounted for GHC2.3 billion. 

Semi-milled or wholly milled rice greater than 5kg or in bulk contributed GHC2.0 billion, and shea nuts (karate nuts) also brought in GHC2.0 billion.

Sea transport dominated the import scene, constituting 89.1% of the total value of imports. 

Road transport accounted for 6.1%, while air transport made up the smallest share at 4.7%.

Source: classfmonline.com