2017 International trade volumes to go up by 10% – Ghana Shippers’ Authority

The Ghana Shippers’ Authority says the maritime trade outlook for 2017 is likely to increase in trade volumes by 10% with boost in both import of major commodities and export of raw materials and semi-process good to the Chinese and European market.

According to the shipper’s authority, the growth is as result of the calm political environment after the generally peaceful electoral and transition process, renewed business confidence in the new government.

Speaking at the first series of ‘The Shipping Quarter and Outlook’ instituted by the Ghana Shippers Authority held at the Shippers house in Accra, Dr. Kofi Mbiah noted that the renewed confidence in the Ghanaian economy and the new policies initiatives is expected to boost the agricultural, manufacturing and industrial sectors.

Dr. Mbiah also revealed that Ghana’s seaborne trade is a in 2016 reflected the basic structure of the economy which was heavily import dependent.

‘The year 2016 echoes this fact with 68.5% of Ghana’s Maritime Trade being imports and 31.5% being exports. Total imports for the 2016 was 12.05 million mt representing an increase of 3.2% over 2015. The major commodities imported from other Africa countries in include crude oil, LPG and petroleum products’ Dr. Mbiah noted.

For exports, Dr. Mbiah noted that, the total export trade for 2016 was 5.55 million mt representing a 26.9% increase over 2015, with the major commodities being bauxite and manganese.

Source:www.ghanaweb.com