Ghana earns $254m as foreign exchange from fisheries sector in 2011

Ghana’s foreign exchange earnings from the fisheries sector in 2011 increased significantly by 53 per cent, though the sector recorded a negative growth rate of negative 8.7 per cent over the same period.

Foreign exchange earnings rose from $165.7 million in 2010 to $254.4 million in 2011, with a corresponding increase in the overall fish production by a volume of 6.9 per cent from 2010 to 2011, with inland fisheries and aquaculture contributing significantly to the boost.

Mr Kwesi Ahwoi, Minister of Food and Agriculture (MOFA), who was answering a question on the floor of Parliament on what accounted for the poor performance of the fisheries industry in 2011, explained that the Ghana Statistical Services (GSS) calculation of the sub sector growth of 8.7 per cent was based on the value and not on the volume of fish produced between the period in review,.

He explained that though fish quantities increased in 2011, the value was lower because more of less valued species were caught, suggesting that more catches of pelagic fishes such as sardinella and anchovies and less of valuable fish like red fish, groupers and tuna.

Dr Anthony Akoto Osei, NPP Member of Parliament for Old Tafo had doubts with the figures given by the GSS on the fisheries sub-sector growth, calling for further investigations to ascertain the true picture, as those figures contradicted those from other government agencies.

Source: GNA