Facing a Foreign Trade AD/CVD or Safeguard Investigation? External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Ghana - Rice imports. Note: many people have more than one mobile connection, so figures for mobile connections may exceed 100% of the total population. Ghana imports mostly industrial supplies, capital and consumer goods and foodstuffs. Ghana flag (FlagPictures.org) A West African nation that shares its southern coastline with the Gulf of Guinea and Atlantic Ocean, the Republic of Ghana shipped an estimated US$12.75 billion worth of goods around the globe in 2021. All rights reserved. Imports The top imports of Ghana are Refined Petroleum ($669M), Cars ($492M), Rice ($391M), Delivery Trucks ($283M), and Coated Flat-Rolled Iron ($273M), importing mostly from China ($6.75B), Netherlands ($867M), United States ($787M), India ($749M), and United Arab Emirates ($522M). Total Imports (2019) $10,439,795,453 : Trade Balance (2019) $6,328,479,736 : Exports of goods and services (% of GDP) (2020) 32.22%: Imports of goods and services (% of GDP) (2020) 35.82% This is followed by machinery, nuclear reactors, and mechanical appliance with 15% and food with 14.4%. Switzerland Imports from Ghana - data, historical chart and statistics - was last updated on October of 2022. Already, top OEMs like This is coming from . We have also included new sources in this years social media figures, so numbers shown here and in our Digital 2021 reports will not be comparable with numbers published in our previous reports. The fertilizer import market, as currently structured, is highly dependent upon government subsidies, which are in a state of flux. Ghana Statistics Ghana Statistics. imports. 4.23% ($441 million): 8704 - Motor vehicles for the transport of goods. At the same year, Raw Sugar was the 24th most imported product in Ghana. Imports of commodity group 2009 reached 25% of total imports of group "" to Ghana in 2019 (imports of commodity group to Ghana totalled $60 million in 2019). At the very top are California with $98.5 billion and New York with $65.6 billion. 1401 Constitution Ave NW Data from China Customs shows that in 2021, Ghana imported various types of crane equipment from China worth US$5.32 million, an increase of 90.68% compared with the total import value of US$2.795 million in 2020. Ghanas 2020 global imports of fertilizer were in the following types and volumes: guide to the subject matter. factor in understanding demand and consumption levels within a Imports of commodity group 1005 "Maize (corn)." accounted for 0.076% of total import flow to Ghana (in 2019, total imports to Ghana amounted to $ 10.4 billion). This is partly attributed to the improvement in demand or consumption of petroleum products during the period under review maintained by an increase in fuel consuming sectors of the economy. beverage, home and personal care segment. Malaysia was the largest exporter of palm oil into Ghana as of 2020. and economic expansion. Please enter your username or email address to reset your password. Over 16 sub-categories of food are imported Development Policy (GADP) seeks to develop a local automobile Organic compost comprises only 1% of consumption and there is low production domestically; mainly is it a by-product of the domestic cattle and poultry industry. Nitrogen, Phosphorus, Potassium (NPK) - 300 million MTs In 2019, food imports for Ghana was 17.4 %. The description is composed by our digital data assistant. Nigeria's 3 most top imported products are refined petroleum oils, cars and smartphones. Latest News, Events, Market Information and Export Statistics. high as 16.5% of total non-oil imports every year. Secure .gov websites use HTTPS Nigeria Imports from Ghana. consumption patterns of Ghanaians inform the type of products that the market? Youll only need to do it once, and readership information is just for authors and is never sold to third parties. Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe. POPULAR ARTICLES ON: Finance and Banking from Ghana. Ghanaians are spending on everything from food products, healthcare products, apparels, electronics to building , Nov 3, 2022. By using our website you agree to our use of cookies as set out in our Privacy Policy. We need this to enable us to match you with other users from the same organisation. Are you ready to export? In 2019, Ghana GDP was an estimated $67.1 billion (current market exchange rates); real GDP was up by an estimated 6.1%; and the population was 30 million. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. That triad of leading imported goods represents over one-third (35%) of the overall value of . Ghana's industrial base is relatively advanced. Assess your export readiness now! (0.2%). among others. by machinery, nuclear reactors, and mechanical appliance with 15% For the new market entrant starting a business in Ghana, Ranking; Production (Gross) 45. . Ghanaian farmers ability to purchase fertilizer is additionally negatively affected by the depreciation of the Ghanaian cedi versus the dollar by 15% since the start of 2022. Aviation fuel also increased from US$1.24 million in Q2 2020 to US$12.82 million in Q2 2021. The table and chart below Consumers in Ghana are very price sensitive - the pricing Switzerland Imports from Ghana. Ghana imports for 2021 was $22.13B, a 77.55% increase from 2020. Texas and Pennsylvania spend significantly less with $36.9 and $30.3 billion respectively. into the country including cereals, meat, fish, spices and fruits Digital, Digital 2021, Local, India, Southern Asia, APAC, Digital, Digital 2021, Local, Egypt, Northern Africa, Africa. Analysis of trade data for the past 9 years (2011 -2019) reveal The charts below provide more details. country. 25Y. On 14 October 2022, the Minister of Finance, Enoch Godongwana, in terms of the Financial Intelligence Centre Act, 2001 ("FICA") made amendments to the Money Laundering With the growing demand for faster and more convenient financial services, there are more people looking to solve this problem by setting up a digital bank. There are three fundamental Ghanas population increased by 655thousand (+2.1%) between January 2020 and January 2021. Nigeria Imports from Ghana was US$50.4 Million during 2021, according to the United Nations COMTRADE database on international trade. There were 8.20 million social media users in Ghana in January 2021. Urea - 90 million MTs Ghana uses primarily nitrogen, phosphorus, potassium (NPK), urea, sulfate of ammonia and organic compost. The most common cereals imported are maize, Import-substitution industries include electronics manufacturing. Typically, these sectors include the transport, the aviation sectors and the ports. harvesting machines. (2013) #35: Imports (Refined) 26.04 thousand bbl/day (2013) #63: Proved Reserves (Crude) 0.66 billion bbl (2021) #42: Natural Gas. In 2018, rice imports for Ghana was 451,881 thousand US dollars. It's main exports partners are Netherlands, Burkina Faso, South Africa and United Kingdom. Some top imported items under this category are transporter This represents overtwice the value of imports in the preceding year (167.7% +). Who are Ghana's biggest trading partner countries? Nigeria Imports from Ghana - data, historical chart and statistics - was last updated on November of 2022. wouldn't it be great to know exactly what product(s) to import That year, nearly 80 percent of Ghana's palm oil imports were from this Southeast . Federal Government Of Nigeria Budget Proposals For 2023 Fiscal Year, New Digital Money Lender Regulations In Nigeria: Some Legal Issues, Taking Security: A Review Of Mortgage Creation Under Nigerian Law, 85% Chance Of South Africa Being Grey Listed, Establishing A Digital Bank In Nigeria Legal Requirements, Realising Security Interest Without A Court Order In Ghana. Russia emerged as a major supplier to Ghana in 2021 but is now threatening to cut off supply globally. and food with 14.4%. Ghana imports for 2020 was $12.46B, a 53.68% decline from 2019. The United States has traditionally been a significant supplier to Ghana of fertilizer, exporting $11.4 million in 2020, although this dropped to $4.7 million in 2021. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. imports), processed vegetables and fruits (7% of total food The main crops grown in Ghana requiring fertilizer are cassava, rice, maize, millet, rice, and yams. We have had startups Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. machinery, nuclear reactors and mechanical appliances. Head Office, P. O. Ghana's Top Imports in 2019: 8.44% ($881 million): 8703 - Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars. Organic - 219 MTs It's main imports partners are China, United States, Belgium, United Kingdom and France. Youll find our complete #Digital2021 report for Ghana in the SlideShare embed above (click here if thats not working for you). They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Given that road Required fields are marked *. primary products imported into Ghana. What are the main exports of Ghana? 49.3% of Ghanas population is female, while 50.7% of its population is male [note: the United Nations does not publish data for genders other than female and male]. 3.59% ($374 million): 1006 - Rice. average value of GHC 486 million, constituting 14% of total food For more information on exploring the fertilizer market in Ghana and opportunities for U.S. suppliers, contact Victoria Agbai, Commercial Specialist at the U.S. Embassy in Accra, Ghana: office.accra@trade.gov; Tel: +233(0)30-274-1870. Official websites use .gov There are several downloadable publications available: Annual statistics (one pager summary with highlights) Annual statistics (full report) This is followed Trade Facilitation and Export Guides for Exporters. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Who are Ghana's top 5 import partner countries? Share sensitive information only on official, secure websites. transport is the primary means of transportation for passengers and By some estimates, 80% of the local fertilizer market is subsidized to some extent. The third category of items imported most into Ghana is food Volkswagen and Toyota has set up assembling plants in the globalEDGE - Your source for business knowledge . His Excellency, President Muhammadu Buhari, GCFR, has presented the 2023 Federal Government Budget Proposals at the joint session of the National Assembly in Abuja. 3 years especially in the consumer and retail space - food, Imports of Goods for Ghana from International Monetary Fund (IMF) for the International Monetary Fund - Balance of Payments (BOP) release. Ghana had a population of 31.40million in January 2021. Ghana spent an estimated total of 6.874 billion on the importation of rice from 2017 to 2020. Line Bar Map. The number of social media users in Ghana was equivalent to 26.1% of the total population in January 2021. Data are in current U.S. dollars. Tourist arrivals into Ghana is expected to grow by 47% this year, following easing of Covid-19 restrictions, a report by Fitch Solutions, has revealed. attract global Original Equipment Manufacturers (OEMs) and other Are You Ready For Indias New Advertising Laws? Ghana's population is growing, but at a declining rate compared with previous censuses. imported annually. Further, imports are a direct response to market demand Switzerland Imports from Ghana was US$2.45 Billion during 2021, according to the United Nations COMTRADE database on international trade. country each year. or produce in the country based on the demand patterns? The number of internet users in Ghana increased by 943thousand (+6.4%) between 2020 and 2021. Rice imports of Ghana increased from 5,880 thousand US dollars in 1969 to 451,881 thousand US dollars in 2018 growing at an average annual rate of 54.81%. Exports of goods and services (% of GDP) - Ghana. Imports from the United States ($156.6 million) constituted about eight percent of the total import value. Likewise, other fuels combined, declined from US$23.08 million in Q2 2020 to 18.69 million in Q2 2021, reflecting a 19.02 per cent decline in the importation of other fuels. or an existing business must have insights on spending and Report Says 38% of GSE-listed Companies Have One or No Females on Boards, Ghana Committed To Increasing Share Of Renewable Energy- Prez. Please check your download folder. component manufacturers into the country. Nigeria imported US$52.4 billion worth of goods from around the globe in 2021, up by 81.8% since 2017 but flatlining via a -1.1% slowdown from 2020 to 2021. factors that a new market entrant should consider; The content of this article is intended to provide a general Base metals not specified elsewhere, cermets. Actually, the top 10 imported products (excluding minerals Social media statistics for Ghana. Exports in Ghana increased to 1584.70 USD Million in June from 1432.60 USD Million in May of 2022. source: Bank of Ghana. Have a strategy for credit for your B2B clients. A locked padlock ) or https:// means youve safely connected to the .gov website. There were 15.70million internet users in Ghana in January 2021. Between 2011 and 2019, an READ ALSO: Ghana: Outlook of Port Infrastructure to remain positive into the long-term, Your email address will not be published. Other important food imports are meat (11% of total food Still need more data? It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. This section gives you access to those publications. U.S. suppliers of traditional chemical fertilizer, organic fertilizer, as well as agriculture technology solutions that offer alternatives to traditional chemical fertilizer have prospects. Ghana uses primarily nitrogen, phosphorus, potassium (NPK), urea, sulfate of ammonia and organic compost. According to Roy Goode, a financier taking security for an advance is concerned to see that if the debtor's assets are insufficient to meet the claims of all his creditors, the financier will at least be To recover debt from a company and individual in Nigeria involves various legal options. Note: we no longer include data sourced from social media platforms in our internet user numbers, so the numbers shown above and in our complete Digital 2021 reports are not comparable with numbers published in our reports from previous years. There were 41.69million mobile connections in Ghana in January 2021. Save my name, email, and website in this browser for the next time I comment. Get in touch with us now. cranes or gantry cranes, team turbines for marine propulsion, While global and local economic factors are altering fertilizer market dynamics in Ghana, there remains an urgent need for price competitive fertilizer. On average, the top 3 product categories is further emphasized. To print this article, all you need is to be registered or login on Mondaq.com. For the U.S. Department of Commerce years attributed somewhat to the growing middle class with greater Imports: 0.058 billion kWh (2020) #110: Renewable Electricity Generation: 7.284 billion kWh . Ghana imports for 2019 was $26.91B, a 15.88% increase from 2018. The number of mobile connections in Ghana in January 2021 was equivalent to 132.8% of the total population. Others include tuna, aluminum, manganese ore, diamonds and horticulture. The share of commodity group 1005 in total imports to Ghana decreased by 0.115 p.p. (January to December 2021) amounted to US$3.330 billion, reflecting an increase of. The number of social media users in Ghana increased by 2.2million (+37%) between 2020 and 2021. Ghana: Import of goods from. pricing is right and quality is good. Imports by volume, therefore declined from 6,685,343 MMBTu in Q2 2020 to 5,662,655MMBTu in Q2 2021. Cereal is the primary food category imported with an To take advantage of these opportunities, however, a new entrant strategy adopted for your business or products should be backed by businesses in Ghana. Though Ghana food imports fluctuated substantially in recent years, it tended to increase through 2000 - 2019 period ending at 17.4 % in 2019. Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms, Articles tailored to your interests and optional alerts about important changes, Receive priority invitations to relevant webinars and events. and milk include processed cereal items such as biscuits, waffles The pace of economic activity at the countrys two main harbours (Tema and Takoradi), as measured by container traffic for imports and exports rose to 64,085 in May 2021, up from 47,196 for same period in 2020. This page provides forecast and historical data, charts, statistics, news and updates for Ghana Imports of Goods. Sulfate of Ammonia (SoA) - 44 million MTs The next category of items imported most into Ghana are Imports of goods and services represent the value of all goods and other market services received from the rest of the world. Goods exports totaled $840 million; goods imports . While global and local economic factors are altering the fertilizer market in Ghana, there remains an urgent need for price competitive fertilizer. Yet, even with the price subsidy, many smallholder farmers still could not afford the cost of imported fertilizer last year. Correspondingly, the volume of crude oil imports declined from 2,188,215 bbl in 2020 to 201,821 bbl. Food comprises the commodities in SITC sections 0 (food and live animals), 1 (beverages and tobacco), and 4 (animal and vegetable oils and fats) and SITC division 22 (oil seeds, oil nuts, and oil kernels). and oil and gas) across the years constitute over 84% of the total and pasta, while products of milling include various types of flour Mondaq Ltd 1994 - 2022. Thus, the lack of import activity may account for the decline in import of crude oil during the period under review. During the period, data presented by the Bank of Ghana reveal no record of importation of crude oil by the Tema Oil Refinery (TOR), Volta River Authority (VRA), CENIT/VITOL/ADINKRA, Bulk Oil Storage and Transport Limited (BOST) and CENPOWER. machines as well as nuclear reactors and other heavy machinery used It is important to state that there is a limitation period to which a debt can be recovered in Nigeria. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Ghanas imports of all types of fertilizers were $173 million in 2019, $109 million in 2020, and $79 million in 2021. Hence over time, the spending and inflation sept 2022 37.2% | provisional real gdp growth rate for quarter 2 2022 sept 2022 4.8% | provisional real gdp growth rate for quarter 2 2022 sept 2022 4.8% | provisional real gdp growth rate for quarter 1 2022 jun 2022 4.1% | real gdp growth rate in quarter 4 apr 2022 7.0% | provisional annual gdp growth rate for 2021 apr 2022 5.4% imports), dairy products (5% of total food imports), preparations Ghana. Please check your download folder. In 2021, goods worth around 13.63 billion U.S. dollars were imported to Ghana. Ghana frequently imports bulk fertilizer and blends it in domestic facilities. or Agents love to have some form of credit from importers. machines and appliances worth GHC 4.3 billion are imported into the such as wheat flour, and maize flour. Ghanaians spending is also skewed towards other categories of hardware. Furthermore, the continuous expansion in economic activities and in particular, the easing of Covid-19 restrictions which were in place the previous year as well increased overall trade in goods and services, accounted for this increase. be a useful insight. Click here to browse our complete library of published reports. manufacturer or importer already operating in Ghana, how are you All Rights Reserved. percentage of total imports they constitute. Here are a few suggestions: Click here to see all of our published reports for Ghana. The number of social media users in Ghana increased by 2.2 million (+37%) between 2020 and 2021. constitute about 15% of total food imports. Have a strong budget for marketing and promotion in the initial The population has grown almost five-fold since the first post-independence census was conducted in 1960. A Comparative Approach to Professional Secrecy and Attorney-Client Privilege in Criminal Proceedings, Mondaq Ltd 1994 - 2022. (Source: IMF) Ghana is currently our 83rd largest goods trading partner with $1.8 billion in total (two way) goods trade during 2019. In 2021, Ghana imported about $1.9 billion in agricultural and related products. Ghana imports almost all of the fertilizer it consumes and was the largest importer of fertilizer in West Africa in 2020 with 26% of all imports. The rise in the global freight-on-board (FOB) cost of imported fertilizer by 200-300% in 2021 negatively affected the market. TheInternational Trade Administration,U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. License : CC BY-4.0. Rlg Communications is the first indigenous African company to assemble laptops, desktops, and mobile phones, and is West Africa's biggest information and communications technology (ICT) and mobile phone manufacturing company.. Ghana began its automotive industry with the . Ghana annual NTE export statistics; Country factsheets; CBI EU market information; . The number of mobile connections in Ghana increased by 3.1million (+8.1%) between January 2020 and January 2021. industry by given incentives (including restrictive incentives) to Ghana is strategically located and has over the years been marketed to the rest of the world as the gateway to Africa. According to the Bank of Ghana Statistical bulletin, the value of crude oil imports declined on a year-on-year basis, registering a 79.43 per cent decline from US$64.06 million in Q2 2020 to US$13.18 million in Q2 2021. in constructions. goods in Ghana, motor vehicles and its articles (spare parts and wheat, rice, oats and millet. There were 8.20million social media users in Ghana in January 2021. The source of the data is the Ghana Community Network (GCNet). If youd like to receive updates when we publish new reports and content, click here to sign up for our newsletter. Washington, DC 20230. Distributors The government of Ghana through the Ghana Automotive Also, the imports of premium petroleum products also increased from US$110.47 million in Q2 2020 to US$273.18 million in Q2 2021 (147.3% +). This has created several investment opportunities 10Y. The total value of petroleum products imported into the country increased by 84.32 per cent, reflecting a year-on-year rise from US$366.15 million in Q2 2020 to US$674.90 million in Q2 2021. Ghana has not been left out of the retail boom across Africa. and plastics are among the leading imported products classes in compared to 2018 (it was 0.177% in 2018 and cumulative imports to Ghana were equal to $ 11.8 billion). Ghana imports Raw Sugar primarily from: Brazil ($98.8M), Morocco ($20.2M), Guatemala ($15M), France ($6.94M), and India ($2.1M). Sugar and sugar confectionery also follows with an annual Copyright 2021 The Vaultz News. As part of its Planting for Food and Jobs agricultural input subsidy program, the Government of Ghana has provided subsidies for farmers and large industry associations purchase of fertilizer. However, gas supply from the West African Gas Pipeline (WAGP) declined from US$49.07 million in Q2 2020 to US$41.77 million in Q2 2021. Details of the specific products imported for Ghana's imports of all types of fertilizers were $173 million in 2019, $109 million in 2020, and $79 million in 2021. in Ghana for both local manufacturing and trading. Box GP 1098, Head Office Building, Location: Finance Close, Accra, Ghana Contact Information +233 59 147 6884 +233 59 147 6895 2021phc@statsghana.gov.gh www.statsghana.gov.gh Ghana's population figure from the 2021 PHC is 30.8 million. Spending patterns are a defining APDF readeris available from Adobe Systems Incorporated. dominant product category in Ghana's imports, constituting as In 2020, Ghana was the world's biggest importer of Used Clothing ($182M) about your specific circumstances. annual average of GHC 4.54 billion worth of different vehicles and In addition, the country also imported the following food products from 2017 to 2020: They include . 57.7% of Ghanas population lives in urban centres, while 42.3% lives in rural areas. its articles were imported into the country. Note: Figures for social media users shown here and in our complete Digital 2021 reports may not equate to unique individuals. are imported into Ghana and also creates viable investment Internet penetration in Ghana stood at 50.0% in January 2021. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Comply with U.S. and Foreign Export Regulations. Knowing what Ghanaians are spending on will certainly This site contains PDF documents. Akufo-Addo, SEC Issues Directive to Market Operators to use the Mark-to-Market Valuation Method in Valuation of Investment Assets, Petroleum hub: Involve experts with state-of-the-art knowledge in management team- Dr Sulemana, the countrys planned investment in the proposed petroleum hub, Ghana: Outlook of Port Infrastructure to remain positive into the long-term, AngloGold Ashanti Records 20% Jump in 3rd Quarter Production, Brings Down Cost By 6%, Countries could cut emissions by 70% by 2050- World Bank Report, Ghanas New Climate Goals Are Largely Realizable CJID, Strikes at the Pre-tertiary Levels Could Have Been Avoided Clement Apaak, WHO Urges Stakeholders To Take Action To Improve Distribution Of Doctors In Ghana, ISSER Boss Calls For Downsizing Of Govt Appointees, Teacher Unions Strikes May Delay Academic Calendar Reset Kofi Asare. Triple superphosphate (TSP) - 35 million MTs independent research. Merchandise Trade statistics data for Ghana (GHA) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. Your email address will not be published. The remaining 2.5% is split between ship and compared to 2018 (it was 0.191% in 2018 and cumulative imports to Ghana were equal to $ 11.8 billion). Price subsidy levels are currently decreasing. The Imports In 2020, Ghana imported $151M in Raw Sugar, becoming the 45th largest importer of Raw Sugar in the world. chart below highlights the top 10 import product categories and the Explore all of our reports for countries across Western Africa. for cereals and milk (5% of total food imports) and food products MARITIME SECTOR AT A GLANCE Ghana's trade statistics as at Q2 2021 Total merchandise exports US$7,573.2m (2.7pct over 2020) Total merchandise imports
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