Iron and steel circles, rods, billets drive nontraditional exports to $3.944bn

The Ghana Export Promotion Authority (GEPA) has announced a significant 11.75% growth in the country’s Non-Traditional Exports (NTEs) for the period between January and December 2023.
NTE earnings during this time totaled $3.944 billion, a substantial increase from the $3.531 billion recorded in 2022.
This growth was driven primarily by Ghana’s iron and steel circles, rods, and billets, which led the earnings chart with $447.8 million.

Key export products boosting growth
Cocoa-based products also played a significant role in the increased NTE revenue.
Cocoa paste earned $340.6 million, while cashew nuts and cocoa butter brought in $263.5 million and $241.3 million, respectively.
The Chief Executive Officer of GEPA, Osafohene Dr. Afua Asabea Asare I, shared these insights during the Minister’s Press Briefing in Accra.
“Agribusiness, manufactured goods, arts and crafts, and services continue to be the primary contributors to NTEs, with agribusiness alone accounting for 12.56% of the total,” Dr. Asare noted.

Impact of AfCFTA on export earnings
Dr. Asare highlighted that Ghana’s alignment with the African Continental Free Trade Area (AfCFTA) has been pivotal in driving export growth, accounting for $1.78 billion in NTE earnings in 2023.
“AfCFTA presents a huge opportunity for Ghana’s export industry, and we are working tirelessly to position local businesses to benefit from this single continental market,” she said.

Empowering women in exports
GEPA’s efforts to support women in the export sector have also seen notable success, particularly through its SheTrades Ghana Hub initiative.
The programme aims to empower women-led businesses by providing them access to international markets. “Our goal is to elevate women entrepreneurs by opening doors to global opportunities,” Dr. Asare added.

Coconut revitalization programme
In addition to its broader export initiatives, GEPA has been actively expanding Ghana’s agricultural export base.
The Coconut Revitalization Programme, which focuses on boosting coconut production, has already distributed one million disease-resistant coconut seedlings across 15,625 acres.
An additional 500,000 seedlings are expected to be distributed in 2025, creating an estimated 350,000 jobs along the coconut value chain.
“This is a crucial step toward increasing the output of coconut while generating employment opportunities for many Ghanaians,” Dr. Asare explained.

Youth in export programme
Dr. Asare also discussed the strides GEPA has made in fostering youth involvement in the country’s export sector through the “Youth in Export” programme.
This initiative, launched to empower young Ghanaians and diversify the country’s export base, aims to provide participants with hands-on experience and mentorship.
“The Youth in Export programme is a game-changer for Ghana. By investing in the next generation, we are equipping them with the skills needed to thrive in the global market while also ensuring the competitiveness of Ghana’s export sector,” Dr. Asare stated.
The programme’s first cohort, which focused on agribusiness, saw 20 young entrepreneurs successfully launch their first exports. The upcoming third cohort, which will include participants from all regions of Ghana and across various sectors, is expected to create over 4,000 jobs for young Ghanaians.
Dr. Asare added that this initiative is also in line with the AfCFTA agreement, providing new markets and opportunities for Ghanaian businesses to expand their reach across the continent. “As Ghana positions itself as a key player in regional trade, GEPA’s focus on youth engagement is a vital pillar in achieving sustainable export growth,” she concluded.