TRALAC - Trade Law Centre

Ghana cuts down trade balance with US to $484m with high exports in 2013

Wednesday, 13 November 2013 Published: | Ekow Quandzie

Source: Ghana Business News

The trade balance between Ghana and the United States fell to $484.7 million in the first eight months of 2013, official US data has shown. This is compared to $670.8 million trade balance both countries recorded during the same period (January-August) in 2012, according to the US Department of Commerce. The reduction was due low American exports and a rise in Ghanaian exports during the period.

The US exported goods worth $747.5 million during the 2013 period to Ghana compared to what it did $901.7 million in 2012.

The US Commerce Department indicated that exports from Ghana into the American market rose from $230.9 million in the 2012 eight-month period to $262.7 million in 2013. Ghana’s main export commodities to the US are oil and cocoa.

Ghana is a beneficiary of the US African Growth and Opportunity Act (AGOA). Ghana and the United States traded $1.5 billion worth of goods in 2012, according to figures by the International Trade Commission (ITC) of the US Department of Commerce. They recorded a trade balance of nearly $1 billion ($987,663,000) in 2012.

View related news articles

US-Ghana trade deepens as 2019 local AGOA Expo ends

US-Ghana trade deepens as 2019 local AGOA Expo ends

The Ghana Chamber of Commerce and Industry (GNCCI) has ended its Africa Growth Opportunity Act (AGOA) trade Expo with a high-powered business to business meeting which saw over 50 African American businesses strike business deals with Ghanaian businesses partaking of the event.  President of the Chamber, Dr Nana Appiagyei Dankawoso 1 was confident “the engagement...

11 December, 2019
US delegation reaffirms commitment to Ghana’s apparel manufacturing industry

US delegation reaffirms commitment to Ghana’s apparel manufacturing industry

The United States of America has reaffirmed its commitment to supporting Ghana’s apparel manufacturing industry. This follows a visit of a high-level U.S Congressional Delegation including its Speaker, Nancy Pelosi, to Ghana’s largest apparel manufacturer in West Africa, Dignity Do the Right Thing (DTRT) located in Adabraka, Accra. Speaking to JoyBusiness at the visit...

30 July, 2019
Ghana Chamber to build capacity of businesses to utilise opportunities in AGOA

Ghana Chamber to build capacity of businesses to utilise opportunities in AGOA

The Ghana National Chamber of Commerce and Industry and its partners are working together to increase Ghana's utilisation of African Growth and Opportunity Act (AGOA). AGOA accords sub Saharan African countries the opportunity to export over 6,500 products on a duty-free and quota-free basis. Over the years, Ghana had not been able to derive much benefit from AGOA, hence...

24 October, 2018
Ghana: Exports under AGOA hit US$748m in 2017

Ghana: Exports under AGOA hit US$748m in 2017

Renewed confidence in the African Growth and Opportunity Act (AGOA) has resulted in an upward trend, with the country’s trade under the programme registering a total of US$748million last year, according to the Ghana National Chamber of Commerce and Industry (GNCCI).The surge in performance reflects the collective efforts by government and other stakeholders including the...

17 September, 2018
US steps up its game in Africa, a continent open for business

US steps up its game in Africa, a continent open for business

“The U.S. needs to step up its game in Africa,” said U.S. Secretary of Commerce Wilbur Ross in Accra, Ghana, Thursday in an expected and welcome assessment.  The secretary was in Ghana to close out the four-country mission of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), originally established by...

07 July, 2018
US Secretary of Commerce Wilbur Ross, announces $1 billion in deals during Africa mission

US Secretary of Commerce Wilbur Ross, announces $1 billion in deals during Africa mission

U.S. Secretary of Commerce Wilbur Ross and a delegation from the President’s Advisory Council on Doing Business in Africa (PAC-DBIA) announced over $1 billion in private-sector deals during their mission to four sub-Saharan nations. PAC-DBIA members expect to quickly conclude more than $2 billion in additional deals in the coming days.   The four-nation visit,...

06 July, 2018