What are the main items that Ghana trades in?
Ghana’s top 5 exported products are gold, crude oil, cocoa beans, cocoa paste, then cashew nuts and coconuts. Collectively, those key product categories represent almost four-fifths (79.1%) of Ghana’s revenues from exporting goods during 2020.
What was the main export product of Ghana?
Economy of Ghana
| Statistics | |
|---|---|
| Exports | $13.84 billion (2017 est.) |
| Export goods | oil, gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, horticultural products |
| Main export partners | India 23.8% United Arab Emirates 13.4% China 10.8% Switzerland 10.1% Vietnam 5.2% Burkina Faso 4% (2017) |
What does Ghana import from Japan?
| Ghana imports from Japan | Value | Year |
|---|---|---|
| Vehicles other than railway, tramway | $127.60M | 2019 |
| Rubbers | $19.42M | 2019 |
| Machinery, nuclear reactors, boilers | $12.04M | 2019 |
| Optical, photo, technical, medical apparatus | $10.86M | 2019 |
What kind of products does Ghana export to the world?
Ghana has a high level of specialization in Cocoa Beans (140), Cocoa Paste (125), Manganese Ore (53.2), Cocoa Butter (49), and Coconuts, Brazil Nuts, and Cashews (34.3). Specialization is measured using RCA, an index that takes the ratio between Ghana observed and expected exports in each product.
Who are the oil marketing companies in Ghana?
Distribution of petroleum products in Ghana is dominated by multinational oil marketing companies (OMCs). There are over twenty oil marketing companies in Ghana. The private sector, including the OMCs and others source and supply finished products through an open competitive tendering system.
How did trade in gold and salt help Ghana?
As trade in gold and salt increased, Ghana’s rulers gained power, aiding growth of their military, which helped them take over others’ trade.
Which is a major source of foreign exchange for Ghana?
There are over twenty oil marketing companies in Ghana. The private sector, including the OMCs and others source and supply finished products through an open competitive tendering system. Cocoa production and individual remittances are major sources of foreign exchange.