Ghana’s non-traditional exports hit $3.8bn in 2024 despite slight dip

Ghana’s Non-Traditional Exports (NTEs) reached $3.83 billion in 2024. This is a 2.87% decline from $3.94 billion in 2023. It marks the first drop in four years. The decline was mainly due to lower iron and steel exports. Rising production and logistics costs contributed to this decrease.

Despite the dip, some sectors performed well. Cocoa paste became the top non-traditional export, with a 35.54% increase in value compared to 2023. Cocoa butter and shea oil also saw significant growth. This reinforces Ghana’s strength in processed cocoa and natural skincare markets.

Processed and semi-processed goods made up 83.4% of total NTE earnings. This shows a shift from raw material exports to value-added manufacturing. In 2024, Ghana exported 609 different non-traditional products to 152 countries. A total of 1,543 companies were involved in these exports.

However, just 86 firms generated about 80% of total export revenues. This highlights the dominance of a few high-performing enterprises. GEPA credits ongoing government initiatives for the sector's resilience. These include infrastructure investments, exporter training, and market promotion.

Programs like the National Export Development Strategy (NEDS) aim to strengthen performance moving forward. GEPA CEO Francis Kojo Kwarteng Arthur noted steady progress in diversifying exports and adding value to raw materials. The rise of cocoa paste indicates that industrialization efforts are paying off.

Looking ahead, GEPA plans to boost trade under regional frameworks like AfCFTA. They aim to deepen relationships with key markets in Africa, Europe, and North America as well. The Authority also pledges to improve market access for SMEs and support locally made products entering global markets.