NTE Sector on course to achieve $5 billion by 2019

Chief Executive Officer of the Ghana Export Promotion Authority (GEPA), Mr. Gideon Quarcoo is urging an effective and aggressive implementation of the various projects as captured in the National Export Strategy in order to help realise the objective of earning about 5 billion dollars from the sector by 2019.

According to him, government must also work towards the realisation of good macro-economic conditions such as the stabilisation of the Cedi to the Dollar and a reduction in inflation among others, including adequate provision of resources such as water and energy and make funds available to key export agencies like the GEPA.

This he pointed out will enable them assist the private sector to drive the anticipated increase in Non-Traditional Export revenues this year and beyond.

Mr. Quarcoo, who was addressing the media at the press launch of the 2014 Non-Traditional Export Statistics said the Export Trade, Agricultural and Industrial Fund (EDAIF) must intensify its expansion of credit facilities to exporters and export facilitating institutions to help them carry out their activities in helping to boost the earnings of the sector.

In August 2013, the government launched the National Export Strategy aimed at raising the level of export proceeds from the Non-Traditional Export Sector to 5 Billion Dollars by the year 2019.

The take-off period for the strategy is 2015 and at the end of the first year (2015), the sector is expected to yield 2.6 billion dollars, about 3.4% above the earnings of 2014 which stood at 2.514 billion dollars.

According to Mr. Quarcoo, the Non-Traditional Export Sector continues to be driven by value-added products such as cocoa and timber products, adding that the full potential of these value-added products are yet to be realised, and efforts must be made to achieve higher levels of value-addition through enhanced investments in agro-processing and other productive sectors.

Ghana’s non-traditional produce, according to him, went to 138 countries that are divided into five groups as the European Union, Other Developed Countries, Ecowas, Other African Countries and other countries.

He said in 2014, there was a decline of about 3.90% from 13.751 billion dollars recorded in 2013 to 13.216 billion dollars realised in 2014 in Non-Traditional Exports, compared to total national exports.

Over the last 10 years, he noted that total national merchandise exports of Ghana had shown positive growth, growing from 2.76 billion dollars in 2005 to 5.206 billion dollars in 2008 while 2009, as a result of the global economic meltdown, recorded a fall of 19.82%.

Mr. Quarcoo said in 2010, total national exports rose by 39.48% to 5.822 billion dollars, adding that highest growth of 119.60% occurred in 2011 during which period the country bagged in some 12.785 billion dollars.