Business News of Tuesday, 10 February 2015
Ghana has generated $2.5 billion so far from exports since the country launched a National Export Strategy document in 2013, according to the Ghana News Agency citing an official of the Ghana Export Promotion Authority (GEPA).
According to the report, the document is targeting export earnings of $5 billion by 2017.
Crude oil became Ghana’s second main export, increasing moderately in two years from $2.7 billion in 2011 to $3 billion in 2012, according to Standard Chartered Research.
Gold is the country’s highest foreign exchange earner.
The country earned $2.5 billion from exporting professional services like education, medical tourism and consultancy in 2013 according to World Trade Organisation (WTO) estimates.
However, earnings from handicraft exports dropped.
The GEPA notes that export earnings from handicraft has plummeted from a peak of $15,000,000 in 2001 to $11,310,850 in 2002 and 11 years later, to a low $2,462,262 in 2013.