The Bank of Ghana has reported a decline in the value of the top 10 non-traditional commodities exported during the third quarter of 2023. The figures stood at $241.81 million, in contrast to the $317.45 million recorded for the same period in 2022.
Tuna emerged as the leading non-traditional export, comprising 15.44% of the top 10, followed by iron/steel (14.95%), and aluminum (11.11%), among other commodities.
Merchandise exports, including oil, during the review period, were provisionally estimated at $3.771 billion, reflecting a 10.2% decrease compared to $4.201 billion recorded in Q3 2022.
Non-oil imports, which include electricity imports, were provisionally estimated at $2.425 billion, indicating a 6.4% decrease from the same period in 2022. The drop in non-oil imports was attributed to reduced demand for capital and intermediate goods imports.
The top 10 non-oil merchandise imports for Q3 2023 amounted to $591.67 million, down from $670.35 million in the previous year. Key items included motor vehicles for transport, cereals, and self-propelled bulldozers.
Capital goods imports experienced a decrease of 11.63%, totaling $452.18 million. Consumption goods imports, however, saw a 24.13% increase to $587.86 million, driven by rising imports in all sub-categories.
Intermediate goods imports decreased by 10.50%, amounting to $1.253 billion. The value of other goods imported stood at $132.20 million, compared to $205.08 million recorded in Q3 2022.
During the period, the Volta River Authority (VRA) imported 32,319,465 kWh of electricity valued at $3.38 million, compared to 12,435,875 kWh worth $1.49 million imported during the same period in 2022.
