The EU is the main export market for West African transformed products (fisheries, agribusiness, textiles, etc.). March 13, 2021. . According to the European Commission Directorate-General for Trade.The 10 largest trading partners of the European Union with their total trade (sum of imports and exports) in millions of euro for calendar year 2021 are as follows. A $26.7 billion boost for Chinese imports, in addition to a $5.3 billion increase in EU exports, has resulted in China officially becoming the EU's largest trade partner. As reported in earlier publication on Nairametrics, India has remained Nigeria's biggest export destination after it eclipsed the United States from the position. In the table, a positive trade balance means that the EU exports more than it imports from the given country. Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa. Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporter's partners. Ghana and China have signed eight (8) Co-operation Agreements and Memoranda of Understanding, in different sectors of their respective economies, aimed at deepening the ties of co-operation and the bonds of friendship that exist between the two countries. In Q3 2019, Nigeria's top 10 trade partners are Ghana, India, Netherlands, Spain, United States, France, South Africa, Italy, China and Canada. Meanwhile, on the flip side, UK cemented its place as among Ghana's five biggest trading partners at year-end 2020. List of largest trading partners of China. West Africa is the EU's largest trading partner in sub-Saharan Africa. Until 2019, more than 6,500 Ghanaian students are studying in China, ranking 2nd in sub-Saharan Africa. On the other hand . Contact Us. The bilateral trade volume of Ghana and China last year hit US$7.46billion, making China Ghana's largest trading partner, the biggest source of foreign investment and the biggest provider of human resource training. Ghana's mining sector pre-dates the colonial era. Contact the International Trade Macro Analysis Branch: Email us! Ghana Major Exports Trade partner. Ghana is an aspiring middle income country (MIC), which continues to face challenges in delivering basic social services and in building institutional capacity. or use our feedback form! Historically, America has long been the EU's top country to trade with, but in 2020, that trend came to a screeching halt. Trade picture. The first table below shows top trading partners of Ukraine in terms of export sales (selling), including Russia, Turkey, and Italy. Discover all countries. The EU is West Africa's biggest trading partner. The second lists top trade partners of Ukraine regarding import total (buying). Ghana is a country of 31 million people with a fast-growing, young, globally and digitally connected population. Ghana was America's third-largest trading partner in sub-Saharan Africa after South Africa and Nigeria. Over three-quarters (78.3%) of Nigerian exports in 2020 was delivered to the above 15 trading partners. Ghana is a member of the World Trade Organization (WTO) and . . The first table below shows top trading partners of Ghana in terms of export sales (selling), including South Africa, Netherlands, and India. China is Africa's largest trading partner, and last year's growth strengthens this position. In 2013, around 4,500 nationals from China, one of Ghana's largest trading partners, were deported as part of a crackdown on illegal miners. The event is designed to create a platform for Ghanaian businesses and entrepreneurs to engage Chinese . play video Chai Zhijing, Economic and Commercial Counsellor at the Chinese Embassy Ghana is now the 7th largest trading partner of China in Africa, the Economic and Commercial Counsellor at the. That is, most products are imported from these countries to Ghana. Imports from China generally accounted for increase in both volume and value of trade between the two countries China is Ghana's largest trading partner globally and Ghana is the 7 th trading partner of China in Africa. "Ghana has become the 7th largest trading partner of China in Africa. Many Ghanaians have strong personal or business ties to the United States, and a strong affinity for American brands and technology. Ghana, Nigeria's largest trading partner in West Africa has taken steps to shore up its foreign reserves and strengthen its economy by banning imports from Nigeria and other countries from which it gets a number of goods such as crude oil, cement and pharmaceuticals. At the end of 2019, Ghana became Nigeria's largest single trading partner, accounting for 17.2% of Nigeria's exports. A West African nation that shares its southern coastline with the Gulf of Guinea and Atlantic Ocean, the Republic of Ghana shipped an estimated US$12.1 billion worth of goods around the globe in 2020. Ghana Trade Statistics. The value of trade between Africa and China rose by 35% from 2020 to $254 billion last year, mainly due. In the fourth quarter of 2021, Nigeria's main import partner was China. West Africa is the Europe's largest trading partner in sub-Saharan Africa and vice versa, Europe is West Africa's biggest trading partner. Ghana's export to China also increased significantly by 31.8 percent to 2.44 billion dollars in 2018 to maintain a two-digit annual performance since 2010, except in 2016. Later, the two leaders retired to a closed-door session where issues such as Ghana's position as one of the Swiss Confederations State Secretariat for Economic Affairs (SECO) priority countries for economic development were discussed. Touted as the biggest trade deals in the world since the World Trade Organisation, the AfCTA signed between 55 countries, of which 54 are members of the African Union, aims to create a single market comprising 1.3 billion people with a combined GDP of about $3.4 trillion. - Ghana Trade flows and balance: Total goods: 2011 - 2021 8 - Ghana Top trading partners: Total goods: 2021 8 . During the official opening of the 51st Conference of Ministers, Dr. Abiyi Ahmed, the Prime Minister of Ethiopia, urged the assembled finance ministers and policy makers to use their 'collective vision' to create the right conditions and commit the necessary resources for the creation of the world's largest trading bloc. At the end of 2014, however, the value of trade between Ghana and China reached $ 5.6 billion, making Ghana the Asian country's single biggest trading partner. The agreements were signed on Saturday, 1 st September, 2018, after the President of the Republic, Nana Addo Dankwa Akufo-Addo, and [] European Union, Trade with World - EU Trade flows and balance: Total goods: 2011 - 2021 9 - EU Top trading partners: Total goods: 2021 9 - EU Top product sections: Total goods: 2021 9 Methodological Notes - HS Sections (Harmonized . Pakistan - Largest trading partners Sunday, Jun 5, 2022 . The maiden edition of the China Trade Week opened in Ghana's capital on Wednesday. Europe and West Africa trade in services is expanding, covering notably transportation and logistics, travel and business services. Meanwhile, bilateral trade between Ghana and China hit $5.43 billion in 2012, Chinese officials said. She said although most of Ghana's trade is currently outside the African market, with the start of the African Continental Free . As a beneficiary of the African Growth and Opportunity Act (AGOA), Ghana has duty-free access to the U.S. market for over 1,800 products, in addition to the more than 5,000 products . Africa Algeria Angola Botswana Cameroon Cape Verde Democratic Republic of Congo Egypt Equatorial Guinea Ethiopia Gabon Gambia Ghana Ivory Coast Kenya Malawi Morocco Mozambique. In Q3 2019, Nigeria's top 10 trade partners are Ghana, India, Netherlands, Spain, United States, France, South Africa, Italy, China and Canada. That trade war did not last long as Ghana and the Ivory Coast won their way. It was the second time in two years that the two countries had manufacturers to concede on deals. Only 3 among Nigeria's top trading importers increased their consumption of Nigerian commodities since 2019 namely Portugal (up 48.5%), Cameroon (up 32.9%) and China (up 0.8%). As reported in earlier publication on Nairametrics, India has remained Nigeria's biggest export destination after it eclipsed the United States from the position. The year after, China became the largest import origin for Ghana and the share of imported Chinese goods/services to the total Ghanaian imports peaked in 2015, at USD 5.31 billion. Global Insights . Ghana is Africa's largest gold producer; it overtook South Africa in 2019 with 4.8 million ounces in output. Ghana is the United Kingdom's 75th largest trading partner, accounting for around 0.1% of total trade. Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa, largely from the export of gold and cocoa to Switzerland and the import of chemical and pharmaceutical products . The EU is West Africa's biggest trading partner. Speaking to manufacturers at a forum in Accra, Ms. Acconcia said the EU was Ghana's second-largest trading partner last year, adding that the trade relation Ghana has with the EU is quite different from others. The second lists top trade partners of Ghana regarding import total (buying). According to the latest report . India has become Africa's fourth largest national trade partner after trade between the country and the continent rose more than 10 folds between 2001 and 2014 - a joint report by the African Export-Import Bank (Afreximbank) and Exim Bank of India (Exim India) says. Ghana was the UK's 78th largest trading partner in the 4 quarters to the end of quarter 3 2021 accounting for 0.1% of total UK trade. He announced that China's non-financial direct investment in Ghana reached US$3.2 billion by the end of 2017, involving infrastructural development, electricity, aviation, building materials and . . Historically, Ghana was known as the Gold Coast. Mar 16, 2022. In that year, Ghana signed a $10bn memorandum of understanding with the China Development Bank to develop its bauxite . important. Bilateral trade between the two countries was worth $6.7bn in 2017. Opening the 2021 US-Ghana Business Virtual Forum yesterday, Mr Kyerematen observed that the turning point in US-Ghana trade and investment relations should be the start of the Africa Continental Free Trade Agreement (AfCFTA). by Njenga Hakeenah. General Ghana remains India's largest trading partnerHigh Commissioner 21st Jan 2021 | Source: Ghanaian Times Mr Rajaram The Government of India says it will continue to remain Ghana's largest trading partner while Ghana will also be biggest destination for India's investment in the West African sub region. Ghana is a key country for Arkas Line touching the West Africa . Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa. Ghana: 17.3% Philippines: 17.3% . Total trade in goods and services between the United Kingdom and Ghana was 1.2 billion in . Bilateral trade between South Africa and Ghana, for example, has strengthened steadily since 1994, as relations improved and expanded in light of the political and economic transformations in both countries. The EU is Ghana's most important trading partner and its largest export market (3.75 billion in 2015). Merchandise Trade statistics data for Ghana (GHA) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. globalEDGE - Your source for business knowledge Menu. HS Code Export USD$ (71) Precious Stones & Metals: $6,199,720,355 Ghana is a country of 31 million people with a fast-growing, young, globally and digitally connected population. Ghana is an aspiring middle income country (MIC), which continues to face challenges in delivering basic social services and in building institutional capacity. In 2020, the inward stock of foreign direct investment (FDI) in the UK from Ghana was 7 million.2 Belgium and India . The $400 a tonne LID on cocoa sales for the 2020/2021 season was introduced by the West African nations last year. The development could lead to more woes for Nigeria which is [] This 'battle of narratives' angered the . The Netherlands is the largest trading partner of Ghana's exports . Similarly, a country with a perfectly diversified trade portfolio will have an index close to zero. He announced that China's non-financial direct investment in Ghana reached US$3.2 billion by the end of 2017, involving infrastructural development, electricity, aviation, building materials and . Ghana now is the 7 th -largest trading partner of China in Africa. Trade between Ghana and China has consistently improved over the years hitting a record high of 7.5 billion US dollars. Ghana, and Kenya were the African countries that imported the most goods from China in 2021 . The most common import partners for Ghana are China ($6.75B), Netherlands ($867M), United States ($787M), India ($749M), and United Arab Emirates ($522M). But West Africa's Ghana and Nigeria were excluded from preferential trade as they failed to seal an agreement with the UK before the end of the Brexit transition period on December 31, 2020. . Ghana Trade Statistics. A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. Choose from 35 profitable & active Foil plain buyers in Ghana with shipment import Price, supplier, qty, phone, email & Linkedin directory. In 2005, China overtook the US as Ghana's second largest trading partner after Nigeria. West Africa's exports to the EU consist mainly of fuels and food products. Bilateral trade between Ghana and the United States totaled $1.5 billion in 2020, down from $1.8 billion in 2019 due primarily to a drop in Ghana's oil exports. It has even been outdone by China, which - for a few weeks - appeared to rush to Africa's aid while Brussels struggled to put together 15bn to meet the most urgent needs. According to the President of the Chamber, Nana Dr. Appiagyei Dankawoso I, although statistics from the International Trade Centre (ITC) showed that Turkey was the third largest trading partner in Sub-Saharan Africa, Ghana's exports to Turkey in 2017 amounted to $128 million, while its imports from Turkey were $224 million, this represented a . For most economies in the world, their leading export and import trading partner in terms of value is either the European Union or China, and to a certain degree, the United States and Russia. India is now Africa's third largest trading partner. Gold is the most commercially exploited mineral in Ghana, accounting for about 95% of the country's mineral revenue. Between April and June, China accounted for about 28 percent of the total import value. Discover all countries. . It has also meant the EU has been unable to profit from the unique nature of its relations with the African continent. Ghana is the third largest U.S. export market in Sub Saharan Africa. . Ghana is now South Africa's second-largest trading partner in West Africa, behind Nigeria.i Ghana is a member of several Explore Visualizations Market Growth Flow View Label Percentage Period Fastest Growing Export Markets (2019 - 2020) Turkey $186M (+ 179%) Australia $166M (+ 728%) Thailand $43.6M (+ 50.4%) China is Africa's largest trading partner, and last year's growth strengthens this position. Ghana is important to Beijing because of its natural resources, and, from a negligible base, China has rapidly become Ghana's largest trading partner. Ghana is the third largest U.S. export market in Sub Saharan Africa. This, therefore, made Ghana UK's 75 th largest trading partner. Definition. This data looks at a decade of growing trade . A Deputy Assistant United States Trade Representative for Africa, Mr Bennett Harman, stated that in both 2020 and the first six months of this year, Ghana was America's third-largest trading . Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa, largely from the export of gold and cocoa to Switzerland and the import of chemical and pharmaceutical. In the last 24 years, Ghana's exports to Switzerland have increased at an annualized rate of 24.3 per cent, from US$26.4M in 1995 to US$4.92B in 2019. The EU is Ghana's most important trading partner and its largest export market (3.75 billion in 2015). That is, most products are imported from these countries to Ukraine. Many Ghanaians have strong personal or business ties to the United States, and a strong affinity for American brands and technology. The EU is the main export market for West African transformed products (fisheries, agribusiness, textiles, etc.). Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa, largely from the export of gold and cocoa to Switzerland and the import of chemical and pharmaceutical productsHowever, as I have stated on many occasions, Ghana no longer wants to be dependent on the production and export of raw materials, including cocoa beans. Trade picture. Other countries like Brazil, India, South Africa and South Korea are emerging as significant markets or source countries in different parts of the world. In recent decades, West Africa's two economic powerhouses have had close economic and diplomatic ties, both bilateral and through the Economic Community of West African States (ECOWAS). Nigeria is the UK's 46 th largest trading partner, currently accounting for 0.3% of total UK trade in 2020, according to the UK Department of . Total trade between Ghana and UK reached 869 million in the four quarters of 2020, a decrease of 24.8% or 286 million compared to year-end 2019. That dollar amount reflects a 13.2% increase compared to the $10.7 billion worth of exported goods in 2016, but a -28.1% decline from 2019 to 2020. The major Chinese trading partners for 2018 were as follows: 2018 Imports and Exports of goods by top 20 nations (billions of USD) Rank Country / Territory Total trade China exports . Ghana is currently Switzerland's largest trading partner in sub-Saharan Africa, largely from the export of gold and cocoa to Switzerland and the import of chemical and pharmaceutical productsHowever, as I have stated on many occasions, Ghana no longer wants to be dependent on the production and export of raw materials, including cocoa beans. The United States is Canada's largest trading partner by far, accounting for 77% of total exports and 52% of total imports. Last year, bilateral trade between China and Ghana registered 7.25 billion U.S. dollars, making it the seventh-largest trading partner of China in Africa. Call us: (301)763-2311 or 1-800-549-0595 option 4 . West Africa is the EU's largest trading partner in sub-Saharan Africa. (US$66.3M), and crude petroleum (US$63.7M). View All Export/Import Trade Partners Traded Goods (at the 2-digit HS Code level) Top 10 Export Goods. With Ghana's move towards processing its own cocoa . Ghana was the UK's 79th largest trading partner in the four quarters to the end of Q4 2021 accounting for 0.1% of total UK trade.1 In 2020, the outward stock of foreign direct investment (FDI) from the UK in Ghana was 197 million. The bilateral trade between the two countries reached USD 6.48 billion the . West Africa's exports to the EU consist mainly of fuels and food products.
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