Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Ghana: Export Promotion Authority Makes Strides in Non-Traditional ExportsFriday, July 10, 2015 > 09:29:25
(All Africa By Karimatu Anas)
Ghana Export Promotion Authority (GEPA) is aiming to increase Non-Traditional Export (NTE) earnings from US$2.514 billion in 2014 to $2.6 billion in 2015, Mr Gideon Quarcoo, Chief Executive Officer of GEPA has disclosed.
According to him, in 2013 NTEs fetched the country $2.43 billion compared to 2014 earnings of $2.514 billion, representing a 3.2 per cent increase.
Speaking at a press briefing yesterday in Accra, to present the 2014 export performance report, Mr Quarcoo said from 2005 to 2008, the sector grew steadily at an annual average rate of about 20.1% from US$777.59 million in 2005 to US$1,340.94illion in 2008.
Mr Quarcoo observed that the total earnings of the NTE sector in 2014 were made up of earnings from the three main subs -sectors namely; agriculture, processed/semi -processed and handicrafts.
Under the processed/semi processed sub -sector, the CEO explained that the earnings amounted to US$2,169.65million compared to US$2,110.03million earned in 2013, while the agricultural sub-sector earnings in 2014 amounted to US$340.7 million compared to US$323.7million earned in 2013.
In addition, export earnings from handicrafts increased to $3.47 million from $2.46 million, representing an increase of 41.05 per cent.
Talking about the outlook of 2015, he stated that the sector as usual continued to be driven by value added products such as cocoa and timber product, adding that the full potential of these value added products had not been realized yet and so efforts must be made to achieve higher levels of value-addition through enhanced investments in agro processing and other productive sectors.