Export trade volume up by 42% in 1st half, 2019

Ghana’s seaborne export trade volumes for the first half of 2019 has recorded a significant increase by 42 percent over the corresponding period of last year, first  the half year report for 2019 from Ghana Shippers Authority has revealed.

The data indicates that the increase was largely led by manganese exports of about 3,570,750 metric tonnes.

The total volumes for the period reached 5.7 million metric tonnes compared to 4.03 million metric tonnes in the same period of 2018.

This was made up of 1.14 million mt of Liner items, 356,398 mt of Breakbulk items, 4.2 million mt of Dry Bulk and 3,657 mt of Liquid Bulk.

These export volumes exclude crude oil exports.

The     Bank of Ghana’s Summary of     Macroeconomic and Financial data shows that US$ 20,470.70 million, exclusive of oil export values was earned in the first half of this year.

Imports

During the same period, total imports was 6.3 million mt. This comprised 2.52 million mt of Liner cargo, 443,956 mt of Breakbulk, 1.96million mt of Dry bulk cargo and 1.41 million mt of Liquid bulk imports.

Imports for the first half of 2019 decreased by 11.3 percent compared with the same period of 2018.

Throughput

Cargo throughput for the first half of 2019 increased by 7.6 percent compared to the same period of 2018.

Cargo throughput for the seaports of Ghana, both Tema and Takoradi, for the first half of 2019 was 12.6 million mt. Of this, throughput for the Port of Tema was 7.3 million mt representing 58 percent, whilst the Port of Takoradi recorded 5.3 million mt, representing 42 percent of the total seaborne trade.

Total transshipment trade volume for the period increased by 2.8 percent over the same period in 2018. Transshipment imports amounted to 525,257mt whilst transshipment exports recorded 62,279mt.

Export Trade Direction

The 5.7 million mt of seaborne exports for the first half of 2019 went to various destinations in the world. Majority of these exports were to the Far East accounting for a total of 3,994,635 mt, or 70 percent of total exports.

Import Trade Direction

Majority of Ghana’s seaborne imports for the first half of 2019 came from the Mediterranean Europe range, representing about 26 percent of the total import trade. Africa and Far East ranges accounted for 23 percent share of Ghana’s import trade each.