Ghana To Record Trade Surplus 1st Time In 20 Years

The Rector of West End University, Prof. Kodwo Ewusi has predicted a trade surplus for the country by the end of 2011.

In a keynote address on the problems of middle income status of a nation, Prof. Ewusi said, “Ghana for the first time in 20 years will record a trade surplus”.

He was speaking at the 1st Annual Economics Conference at the Kwame Nkrumah University of Science and Technology on the theme: Expectations for Ghana as a middle income economy.

The former director of the Institute of Statistical, Social and Economic Research (ISSER) noted that most sectors are contributing positively to the economy.

He cited the Cocoa Marketing Board’s announcement that cocoa production this year will hit a target of 1 million tonnes. According to the Economist, gold production is also increasing at a fast pace and he believes increase in income has resulted in the rise of activities in the financial and insurance sectors.

The Professor opines that the impact of oil production will be felt strongly in the export sector. This he believes in combination with the increase in other sectors will propel the country to record a trade surplus by the end of the year.

By David Apinga, Focus FM, KNUST, Kumasi.

awintida@scientist.com