US-Ghana bilateral trade surpasses $1b mark in first eight months of 2012

For the first eight months of the year 2012, bilateral trade between the US and Ghana has surpassed $1 billion.

The actual trade volume is $1,132,697,000, according to the latest figures released by the US International Trade Commission.

The US exported a trade volume valued at $901,781,000 to Ghana during the eight-month period while its imports from Ghana valued at $230,916,000.

The trade balance between the two countries rose to $670,865,000 during the 2012 period from $351,832,000 in 2011 corresponding period.

Bilateral trade between the two in the first eight months of 2011 reached $1,237,554,000.

The total value of trade between the US and Ghana recorded a significant growth of 56% over the 2010 figures to $1.9 billion in 2011

Some goods traded between the US and Ghana are oil, cocoa, wood, rubber, vegetables etc.

By Ekow Quandzie