Ghana’s exports to EU surge by 8% in 2023, reaching €2.6bn

Ghana’s exports to the European Union (EU) surged by 8% in 2023, reaching 2.6 billion euros, up from 2.4 billion euros the previous year.

However, imports from the EU to Ghana declined from 3.7 billion euros in 2022 to 3.3 billion euros in 2023.

According to the Ministry of Trade and Industry, the total trade volume between Ghana and the EU amounted to 6 billion cedis in 2023.

Speaking at the 2nd Ghana-EU Business Forum, Minister for Trade and Industry, KT Hammond, reassured investors that Ghana remains a haven for investment.

“2023 export from Ghana saw an 8% increase, rising from some 2.4 billion euros to 2.6 billion euros while import from the opposite direction experienced, unfortunately, some 11% decline, 3.7 billion euros to 3. 3 billion euros.”

The forum, themed “Fostering Investment in Non-Traditional Chains Under EU Global Gateways Strategy,” aimed to enhance trade and investment relations between Ghana and the EU.

For her part, the Deputy Director-General of the European Commission, Directorate-General for International Partnerships, Myriam Ferran, emphasised the EU’s commitment to enhancing trade and investment relations to achieve the Sustainable Development Goals (SDGs) during discussions.

“This strategy is definitely the strategy of the European Union to engage with like-minded partners in building sustainable infrastructure and connectivity around the world and this is the EU’s offer for sustainable bonds in full partnership.

“This is extremely important for us because in the everyday more challenged world in which we live, not to speak about the geopolitical consequences of the Russia-Ukraine war or what’s happening on Gaza.

Meanwhile, at the same Forum, the European Union (EU) launched a 32 million Euros Special Measure on Manufacturing and Access to Vaccines, Medicines, and Health Technologies in Africa (MAV+) to support the development of vaccine manufacturing and the pharmaceutical industry in Ghana.