Home / General News / Ghana, South Africa trade below $1b in 2014

Ghana, South Africa trade below $1b in 2014

Share this with more people!

TradeEven though trade between Ghana and South Africa has been rising in the last four years, it is less than $1billion. Nigeria is South Africa’s biggest trading partner in West Africa.

A GNA report cites the South African deputy Minister of Trade and Industry Mzwandile Masina as trade relations between the two countries has recorded an upward trend from R 2.6 billion which is about $202 million to R10.8 billion, about $842 million, from 2010 to 2014.

On the other hand, trade between South Africa and Nigeria has experienced a fluctuating but upward trend from 2010 to 2014 growing from a total of R20.5 billion or about $1.6 billion in 2010 to R66.2 billion which is about $6.2 billion in 2014.

Mr. Masina is expected to lead a delegation of business people on an Outward Selling and Investment Mission to Ghana and Nigeria from August 17 to August 21, the report said.

According to the report the sectors targeted for the mission are agriculture and agro-processing, build environment professionals, infrastructure, furniture and wood processing energy and mining.

Ghana and South Africa established formal diplomatic relations on 25 May 1994, soon after the end of Apartheid and the establishment of democracy in that country.

South African exports to Ghana include vehicles, machinery, mechanical appliances, electrical equipment, base metals, aircraft, vessels and associated products. Ghana also imports some foods, alcoholic beverages and some IT products.

Some of the products Ghana exports to South Africa include gold – which makes more than 90 per cent of exports, wood and crude petroleum.

South Africa imports a greater portion of its crude from the Middle East, Nigeria and Angola. Ghana has exported more than eight million barrels of oil to South Africa.

By Emmanuel K. Dogbevi

Share this with more people!

Check Also

US and Ghana conclude joint Natural Disaster Training

An 18-member team from the United States’ (US) North Dakota, including personnel from the state’s …