US$1.7b revenue from NTE projected

Ghana has projected US$1.7billion from Non-Traditional Export (NTE) revenue by 2011, Kwadwo Owusu Agyeman, Chief Executive Officer, Ghana Export Promotion Council (GEPC), disclosed.

The projection is aimed at boosting the country’s export earnings, and as part of government strategy to sustain export revenue would improve performance of export companies to deliver superior contributions. It would also develop and enhance market access programmes for exporting companies.The country’s NTE products - which constitute 21 percent of the nation’s export revenue - include pineapple, yam, pawpaw, banana, pepper and cashew nuts (excluding Cocoa, Timber and Gold).

Last year, the Council roped in US$1.5billion.

Exports of Non-Traditional crops in the country have exceeded its target of US$1billion marked by the Ghana Export Promotion Council (GEPC), reaching an all-time high of US$1.2billion for 2007.

GEPC 2009 (NTE) performance report showed that export earnings amounted to US$1.215billion, a decline of 9.28 percent compared with the US$1.340billion earned in 2008.

This remarkable achievement represents a 30.5 percent growth over the 2006 figure of US$892million, and also a contribution of 27 percent to the total export earnings of the country for the 2007.

Mr. Agyeman attributed the consistent improved performance of the export earnings to support from the Export Development and Investment Fund.

He also mentioned product diversification and extension programmes and enhanced data capture through the Ghana Community Network System.

Mr. Agyeman called for more emphasis to be placed on development of the country’s NTE commodities.

He indicated that despite the euphoria generated by the oil find, non-traditional export commodities are still relevant to the country’s economic development.

“Now that the country has commenced the production of oil in commercial quantities, it behoves the government to take a closer look at the sector and its contribution to national development. If we allow this sector to die, we will lose a huge sector of the country’s revenue.”

The shows are expected to commence in April and will end in August this year. This will deepen the country’s drive to boost export revenues.