Ghana imports peak in August, Cocoa exports at their lowest

Cocoa exports were at their lowest in August while imports for the month were at their crest since the year began, according to data from the Bank of Ghana.

Cocoa exports reached $67.2 million in August, after plummeting through the year from a high $301.8 million in January, according to the data.

The fall in cocoa exports resonates with the fall in the price of cocoa from $3,325 per metric tonne in July, to $3,154 per metric tonne in August.

In contrast, imports reached about $1.24 billion, the highest for the year, shadowed closely by the value of imports for January: $1.170 billion, and that for April – $1.168 billion.

Non-oil imports in particular accounted largely for most of the imports: $1.06 billion, the highest since January.

Imports were very close to $1.02 billion in January but fell, ranging between $860 million and $970 million from February to July.

By Emmanuel Odonkor