You are here: HomeBusiness2013 03 11Article 267324

Business News of Monday, 11 March 2013

Source: Daily Guide Network

UK export to Ghana increases

United Kingdom’s exports to Ghana increased from the previous £426 million in 2011 to £516 million in 2012, representing a 21 per cent increase. U.K’s goods import to Ghana in 2011 was £341 million, representing a 55% increase over the £202 million recorded in 2010.

Whereas UK’s exports to Ghana went up by 21% in 2012 compared to the performance in the previous year (2011), her imports from Ghana went down by 36% in 2011.

This was revealed by the British High Commissioner, Peter Jones at the end of a Media Open Day organized in Accra by the Commission to explain the various roles played by U.K government and its affiliated bodies.

He said the figure however did not include bilateral trade in services for which U.K exports in 2011 stood at £298 million, representing a 36% increase over the 2010 period.

Mr. Jones said bilateral trade between Ghana and United Kingdom (UK), which reached an all-time high in recent times, is expected to double by the end of 2015.

He said the U.K government was committed to deepening its trade relations with Ghana to develop her economy. “UK’s economic development is dependent on world trade. It is therefore important to boost UK’s economy by engaging in trade with countries like Ghana,” Mr. Jones said.

He expressed optimism that the bilateral trade partnership together with diplomatic relations between both countries would grow from substantially. Mr. Jones said representatives of the UK, together with other developing partners, have met President Mahama to map out a new Development Framework.

He mentioned that the U.K government had set ambitious targets and was monitoring and evaluating mechanisms to meet such developmental projects deadline.

In 2012, Ghana was adjudged UK’s sixth largest export market in Africa and third in Sub-Saharan Africa.

Top exports (only goods) from the UK to Ghana in 2011 included vehicles, textiles, industrial machinery, specialized machinery, electrical appliances and petroleum products.

Cocoa, canned fish, fruit and vegetables and petroleum products were top export commodities from Ghana to the UK in 2009.

Trade relations between UK and Ghana is being facilitated by the UK Trade & Investment (UKTI) section of the British High Commission dedicated to helping U.K companies succeed in Ghana. UKTI provides a range of market access support through Overseas Market Introduction Services.

The services include preparing market reports, helping to identify potential partners and customers, managing product launches and arranging visit programmes and events.

Join our Newsletter