Trade volumes expected to increase in 2017 - 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-processed good to the Chinese and European markets.

According to the Shipper’s Authority, the growth is a result of the calm political environment in the country following the successful changeover of government in January.

Speaking at the first Shipping Quarter Outlook for the year, Chief Executive oOfficer of the Authority, Dr. Kofi Mbiah noted that there is renewed confidence in the Ghanaian economy on the back of government's introduction of new policy initiatives aimed at boosting growth in the business community.

‘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.