Earnings from non-traditional exports hit $2.81bn in 2018
Ghana earned $2.81 billion from non-traditional exports in 2018 representing a 10.05 per cent increment as compared to $2.56 billion earned in 2017.
Processed and semi-processed products accounted for 78.53 per cent of the exports while agricultural produce and industrial art and craft represented 21.01 per cent and 0.46 per cent respectively of total non-traditional exports.
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This was contained in a report on the analysis of the 2018 non-traditional export statistics which was launched in Accra today.
The report noted that eight of the 10 top earners were processed and semi-processed products whereas the remaining two were agricultural produce.
It said the performance of the processed/semi-processed subsector recorded a marginal growth of 4.92 per cent in 2018 over 2017 earnings.
Agricultural and industrial art and craft subsectors increased by 34.04 per cent and 23.65 per cent respectively over 2017 earnings.
Product performance
It said cashew nut earned the country $378.21 million (13 per cent), while cocoa butter fetched $288.94 million (10.27 per cent).
Cocoa paste it said, raked in $287.22 million (10.2 per cent ), while articles of plastics earned the country $213.81 million.
Canned tuna, according to the report, fetched $182.77 million (6.5 per cent) and cocoa cake $113.99 million.
Cocoa powder it noted, fetched $94.41 million (3.35 per cent) while iron and steel circles, rods, sheets and billets earned Ghana $86.83 million (3.08 per cent).
The country earned $85.54 million (3.04 per cent) from banana exports and $85 million (3.02 per cent) from aluminium plates, sheets and coils.
Substantial growth in total non-traditional exports and average earnings of top 10 products, according to the report, could be realised if support was rendered to the private sector to add value to agricultural produce and undertake further value addition to intermediate products.
Non traditional market performance
The report said in 2018, non-traditional export products were exported to 151 countries in the European Union (EU), other developed countries, the Economic Community of West African States (ECOWAS), other African countries and other non EU and non African countries.
The performance of the non-traditional export sector by markets, the report noted, indicated that ECOWAS and the EU absorbed 26.3 per cent and 41 per cent respectively.
"Other African countries, other developed countries and other countries absorbed 1.52 per cent, 5.72 per cent, 25.68 per cent respectively," the report said.