Food Products Make Up 23.9% of Half-Year 2023 Exports

Ghana’s trade dynamics in the first half of 2023, as per the Mid-Year Trade Report by the Ghana Statistical Service, shed light on the significant role of food products in the country’s exports and imports.

In the first six months of the year, food products constituted a substantial portion of Ghana’s total exports, accounting for 23.9%. Interestingly, imports of food products made up 13.3% of the total imports, indicating a notable trade surplus in this sector.

The report reveals that over half of the food imports are concentrated in five categories: Cereals and Grains Products (22.8%), Animal or Vegetable Fats and Oils (12.7%), meat (9.5%), and sugar products (8.6%). On the export side, cocoa products dominate, representing a staggering 64.9% of all food exports.

Cocoa exports, unlike other food products, are diversified across various countries. Edible fruits and nuts, the main exported food products, find their major markets in India (48.4%) and Vietnam (27.1%).

When focusing on the top five food import products—grains, animal or vegetable fats and oils, meat, cereals, and sugar products—only three countries contribute to more than half of these imports.

In terms of intra-Africa trade, Ghana’s exports to African countries accounted for 22.0% of total exports, valuing ¢19.3 billion. Conversely, imports from African countries represented 9.1% of total imports, totaling ¢7.7 billion.

Ghana’s intra-Africa trade network involves exports to 49 countries and imports from an equal number of nations. South Africa emerges as the primary recipient of Ghanaian exports within the continent, capturing 55.4% of the market. Burkina Faso, Côte d’Ivoire, and Togo are the next prominent destinations.

In a broader context, South Africa, Egypt, and Morocco collectively constitute 50.8% of imports from African countries, underscoring the significance of these nations in Ghana’s overall trade dynamics within Africa.