The Ghana Export Promotion Authority (GEPA) has reported that the country’s Non-Traditional Exports (NTEs) earnings increased by 6% in 2022, reaching US$3.53 billion compared to US$3.33 billion in 2021.
The announcement was made by Dr Afua Asabea Asare, CEO of GEPA during a press briefing organized by the Ministry of Information in Accra on May 3rd, 2023. The NTEs include a range of diversified products such as processed foods and beverages, handicrafts, textiles and garments, horticulture products, among others.
The growth has been attributed to a combination of structural changes within Ghana’s NTE ecosystem and the effective implementation of the National Export Development Strategy (NEDS). The NEDS is a comprehensive policy framework aimed at promoting and diversifying Ghana’s exports through various initiatives such as market research and intelligence, export financing and insurance schemes, trade fairs and exhibitions, among others.
The strategy was launched in 2018 with an initial budget of US$10 million. The increase in NTE earnings is expected to have a positive impact on Ghana’s economy by creating jobs and increasing foreign exchange reserves. It also highlights the potential for further growth and diversification of Ghana’s export sector.