{"id":165219,"date":"2024-03-25T14:25:42","date_gmt":"2024-03-25T14:25:42","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/"},"modified":"2024-03-25T14:25:42","modified_gmt":"2024-03-25T14:25:42","slug":"exports-rake-in-2-8bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/","title":{"rendered":"Exports Rake In $2.8bn –"},"content":{"rendered":"

<\/p>\n

\n

Dr Ernest Addison, BoG Governor\u00a0<\/strong><\/p>\n

\u00a0<\/p>\n

Ghana earned $2.8 billion from its major exports in the first two months of this year.<\/p>\n

A recent assessment of the country\u2019s external sector developments indicated that in February of 2022, the same figure was recorded.<\/p>\n

Compared to some $2.5 billion the country spent on imports for the same period, this resulted in a trade surplus of about US$400 million.<\/p>\n

According to the Bank of Ghana\u2019s Summary of Macroeconomic and Financial Data for March this year, the positive trade balance accounted for 0.5 of GDP, which was a decline from the 1.1% of GDP recorded in February 2023.<\/p>\n

Gold remained the most dominant contributor to exports fetching $1.3 billion, even though it was a marginal increase from the $1 billion recorded in the same period last year.<\/p>\n

Coming after gold were crude oil exports, which totaled $620 million in February 2024, compared to $551 million in February 2023.<\/p>\n

Cocoa, however, came in third with $508 million significantly down from $711 million recorded in the same period last year accounting for some $203 million decline.<\/p>\n

On the imports side, oil imports fell from $674 million to $599 million. Non-oil imports also decreased from $1.9 billion to $1.3 billion.<\/p>\n

The growth in gross international reserves sustained the country\u2019s import cover at 2.8 months.<\/p>\n

Net International Reserves of the country stood at $3.5 billion, a marginal increase from the $2.6 billion recorded in February 2023.<\/p>\n

The value of the economy in 2023 stood at GHS841.6bn relative to GH\u00a2 614.3bn representing a GH\u00a2227bn increase from the previous year.<\/p>\n

This was driven by the services sector which contributed GH\u00a2357.34 billion or 45.6% of Gross Domestic Product (GDP), followed by industry with GH\u00a2247.941 billion (31.7% of GDP), and agriculture at GH\u00a2177.606 billion (22.7% of GDP).<\/p>\n

Sub-sectors by share of GDP included crops (19.4%), trade and repair of vehicles, household goods (18.3%), mining and quarrying (12.9%), manufacturing (12.1%), and transport and storage (6.0%).<\/p>\n

Recent data from the Ghana Statistical Service, shows the cumulative growth of the economy stood at 2.9 percent in 2023.<\/p>\n

This was a 0.9 percentage points drop from the 3.8 percent recorded in 2022 but higher than the government\u2019s revised target of 1.5 percent for the period under review.<\/p>\n

The fourth quarter also expanded by 3.8 percent. This was the highest for the four quarters of the year 2023.<\/p>\n

The annual growth was mostly led by the services sector which recorded an annual rate of 5.5 percent while the growth rate for the industry sector shrunk.<\/p>\n

By Samuel Boadi<\/strong><\/p>\n

\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison, BoG Governor\u00a0 \u00a0 Ghana earned $2.8 billion from its major exports in the first two months of this year. A recent assessment of the country\u2019s external sector developments indicated that in February of 2022, the same figure was recorded. Compared to some $2.5 billion the country spent on imports for the same […]<\/p>\n","protected":false},"author":1,"featured_media":93658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-165219","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nExports Rake In $2.8bn - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exports Rake In $2.8bn - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dr Ernest Addison, BoG Governor\u00a0 \u00a0 Ghana earned $2.8 billion from its major exports in the first two months of this year. A recent assessment of the country\u2019s external sector developments indicated that in February of 2022, the same figure was recorded. Compared to some $2.5 billion the country spent on imports for the same […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-25T14:25:42+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Exports Rake In $2.8bn –\",\"datePublished\":\"2024-03-25T14:25:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/\"},\"wordCount\":390,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/\",\"name\":\"Exports Rake In $2.8bn - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2024-03-25T14:25:42+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/25\\\/exports-rake-in-2-8bn\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Exports Rake In $2.8bn –\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Exports Rake In $2.8bn - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/","og_locale":"en_US","og_type":"article","og_title":"Exports Rake In $2.8bn - Ghanamma.com","og_description":"Dr Ernest Addison, BoG Governor\u00a0 \u00a0 Ghana earned $2.8 billion from its major exports in the first two months of this year. A recent assessment of the country\u2019s external sector developments indicated that in February of 2022, the same figure was recorded. Compared to some $2.5 billion the country spent on imports for the same […]","og_url":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/","og_site_name":"Ghanamma.com","article_published_time":"2024-03-25T14:25:42+00:00","author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"Exports Rake In $2.8bn –","datePublished":"2024-03-25T14:25:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/"},"wordCount":390,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/","url":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/","name":"Exports Rake In $2.8bn - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#primaryimage"},"thumbnailUrl":"","datePublished":"2024-03-25T14:25:42+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/03\/25\/exports-rake-in-2-8bn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"Exports Rake In $2.8bn –"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/165219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=165219"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/165219\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=165219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=165219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=165219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}