Gold and cocoa are Ghana's leading export commodities
The Ghana 2022 Trade Vulnerability Report has shown that gold makes up more than one-third to half of Ghana’s exports.
The commodity has generated a chunk of the country’s export revenue in the past years.
Ghana’s gold is exported to three continents: Asia (35.5%), Africa (46.1%), and Europe (50.4%).
Mineral fuels and oils constitute the largest share of Ghana’s exports to North America (80.9%) and Asia (42.6%), the report by the Ghana Statistical Service detailed.
The report also noted that cocoa is an important export commodity to Europe (22.1%), Asia (7.6%), and North America (13.1%), and is rarely exported to other
continents including Africa.
About half (50.4%) of all Ghana’s exports to Europe go to Switzerland, followed by 13.0 percent to the Netherlands and 8.9 percent to Italy.
China (44.3%) and India (33.9%) together make up more than three-quarters (78.2%) of all Ghana’s exports to the Asian continent.
In Africa, 80. 6 percent of Ghana’s exports go to four countries: South Africa (51.3%), followed by Ghana’s neighbouring countries Burkina Faso (15.7%), Côte d’Ivoire (8.2%) and Togo (5.4%).
For North America, 71.4 percent of all exports go to Canada.
These are Ghana’s top five export commodities:
1. Gold bullion
2. Petroleum oils and oils obtained from bituminous minerals, crude
3. Cocoa beans, superior quality raw beans
4. Cocoa paste not defatted
5. Cashew nuts in shell
More than 90.0 percent of exports of gold are to three countries: Switzerland (48.1%), South Africa (24.8%), and India (21.4%). China (38.1%), Canada (33.0%), and Italy (6.9%) are the destinations of over three-quarters (78.0%) of
Half (50.0%) of cocoa exports go to three countries. The main export destination for cocoa is the Netherlands (27.6%), followed by the United States of America (12.7%) and Belgium (9.7%).
Plastics (49.7%), iron and steel (43.6%), and chemical products (39.5%) are mainly exported to Burkina Faso.
SSD/NOQ
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