Ghana earns €68.7m from timber exports in first half 2010

Ghana has earned €68.7m from the country’s wood exports in the first half of 2010, according to the International Tropical Timber Organisation (ITTO).

The earnings were as a result of increase in wood and timber export from the country for the period, and which is an increase above that of the same period for 2009. In the first half of 2009 Ghana exported 200,590m³ of wood and timber products and for the same period in 2010, exports increased to 201,780m³. This volume of exports earned the country €68.7m, an 8.6% growth over 2009.

Volumes to Italy, Germany, the UK, Belgium, Spain, Ireland and Holland were 41,500m³ (€21m) – accounting for 21% of all exports by volume, the ITTO reports.

Timber and wood products export form essential components of the Ghanaian economy.  In 2009 the Minister of Lands and Natural Resources, Alhaji Collins Dauda, had said the timber Industry accountsed for about 4% of the Gross Domestic Product (GDP) of Ghana and 11% of national export revenue, with average revenue from the sector stabilized at about $212 million over the past five years.

The ITTO report indicated that all timber products except furniture showed increases, with air and kiln dried sawn wood growing 10.8% and 24.6% respectively and exports of secondary timber products increased by €9m to €60m.

By Emmanuel K. Dogbevi