Ghana, China bilateral trade reaches $3.47b in 2011

The bilateral trade volume between Ghana and China reached $3.47 billion with a growth of 69.04% in 2011 according to information gathered by ghanabusinessnews.com.

And even though, Ghanaian exports to China grew by 150%, the total value was only $400 million.

Aggregate trade value between Ghana and China rose from $170 million in 2006 to more than $1.3 billion by the end of 2010.

China’s growing interest in African countries including Ghana is well documented and bilateral trade is an important part of that.

Chinese business activities in Ghana is said to have amounted to $2.5 billion in the first three quarters of 2011, according to the Daily Graphic publication of December 9, 2011 citing Mr Gao Wen Zhi, Chancellor in Charge of Commercial and Economic Affairs at the Chinese Embassy.

China is one of the top 10 investing countries in Ghana. In 2011, 79 Chinese investment projects were registered with Ghana Investment Promotion Centre with a total value of $145 million.

The investment were in construction, mining, steel industry, building material industry, chemical industry, pharmaceutical sectors, food processing, fisheries, agriculture, salt production and so on.

By Emmanuel K. Dogbevi