Ghana’s imports stood at $35 billion last year

Ghana’s total import bill for last year stood at 3.35 billion dollars with an export of 1.8 billion dollars. This has been attributed to excessive importation of goods that are, and can be produced in the country. Mr. Dan Adodakpi, the Minister of Trade and Industry, made the disclosure at a day’s workshop on the Economic Community of West African States (ECOWAS) Trade Liberalization Scheme (TLLS) for the private sector stakeholders in the Ashanti and Brong Ahafo Region.

It was organised by the Minister of Trade and Industry in collaboration with the Minister of Planning, Regional Economic Co-operation and Integration, Ghana Export Promotion Council and the Custom and Excise and Preventive Service CEPS).

The workshop was intended to open up to the business community, manufacturers and exporters the opportunities and benefits that are available under the ETLS.

Mr. Abodakpi indicated that 45 per cent of the amount constitute intermediate goods for industry, while between 25 to 27 percent were consumables some of which are produced in Ghana. He explained that the importation of goods which could be produced in the country contributed to the retardation of the economy and that exportation vis-a-vis the import trade was very discouraging.

Mr. Abodakpi noted that for the nation to achieve eight to 10 percent GDP growth, non-traditional export should fetch about 12 billion dollars by the year 2020.

The Minister reiterated the government’s commitment at ensuring the implementation of the mandatory purchase of Made-in-Ghana goods, hence the 20 percent tax on importation of goods manufactured in the country.

Mr. Abodakpi said by the end of this year, the sector Ministry would have introduced Information Technology mechanisms into the country’s trade operations to facilitate imports and exports.

Mr. Evans Klutse, an Acting Assistant Commissioner of CEPS, said presently under the ETLS Ghana had about 77 industries with Nigeria listing about 100 and that import duties were waived on goods from the sub-region which qualified under the scheme.

Nana Aboagye Agyei, Ejisuhene and member of the Council of State, who chaired the function urged the private sector to take advantage of the ECOWAS market to place Ghana at the cutting - edge of improving its economy