Ghana and Britain trade £735m goods in 2012

Bilateral trade between Ghana and Britain in goods only is worth £735 million during the year 2012, according to data released March 7, 2013 by the UK High Commission in Accra.

The 2012 trade value slipped from £767 million recorded between the two countries in 2011.

UK exports in goods to Ghana in 2012 rose by 21% to £516 million, making Ghana the 6th largest export market in Africa and 3rd in sub-Saharan Africa for the UK, Deputy High Commissioner Caron Rohsler said during a Media Open Day at the Commission.

Ghana, on the other hand exported £219 million worth of goods to the UK in 2012 creating a rising £297 million trade balance between the two countries. In 2011, the trade balance was £85 million.

UK imports from Ghana in 2012 were down 36%, the UK Trade and Investment section at the High Commission stated in a note.

Ghana’s main exports to the UK are cocoa, canned fish, fruit and vegetables and petroleum products while UK’s to Ghana are road vehicles, textiles, industrial machinery, electrical appliances and also petroleum products.

Speaking to journalists during the Media Day, the UK High Commissioner, Peter Jones says he is expecting Ghana-UK trade to double in a five-year period from 2010-2015.

“We are on track to achieve that…and we want trade to benefit both countries equally,” Peter Jones said.

The relationship between Ghana and the UK continues to be strong and vibrant, says Caron Rohsler.

Major UK firms in Ghana are Amajaro, Barclays Bank, Standard Chartered Bank and British Airways.

By Ekow Quandzie