The top 5 Ghanaian products imported by the UK in 2023
Ghana and the UK engage in a wide range of trade activities encompassing various sectors such as agriculture, manufacturing, services, and technology. Notably, Ghana exports commodities like coffee, tea, crude oil, and vegetables to the UK, while importing machinery, textile, and meat among others. The UK and Ghana’s bilateral trade volumes are steadily rising, according to recent trade data.
According to the UK’s Department for Business and Trade factsheets, the total value of trade in goods and services (imports plus exports) between the UK and Ghana was £2.3 billion at the end of the third quarter of 2023, up £703 million at current prices, or 44.6%, from the same period the previous year. Out of this £2.3 billion.
In the four quarters ending at the end of Q3 2023, total imports into the UK from Ghana came to £1.2 billion (an increase of 110.1%, or £646 million at current prices, compared to the four quarters ending at the end of Q3 2022). With 0.1% of all UK trade, Ghana ranked as the UK’s 65th largest trading partner in the four quarters leading up to the conclusion of Q3 2023.
“Of all UK imports from Ghana in the four quarters to the end of Q3 2023, £693 million (56.2%) were goods and £540 million (43.8%) were services. In the same period, UK imports of goods from Ghana increased by 188.8% or £453 million in current prices, compared to the four quarters to the end of Q3 2022 while UK imports of services from Ghana increased by 55.6% or £193 million in current prices, compared to the four quarters to the end of Q3 2022,” the report read.
With that said, here are the top 5 goods imported by the UK from Ghana in the four quarters to the end of Q3 2023
| Rank | Products | Trade value (Q3 2022 – Q3 2023) | % of overall trade |
|---|---|---|---|
| 1. | Crude oil | £551.9 million | 79.6% |
| 2. | Vegetables & fruit | £60.6 million | 8.7% |
| 3. | Fish & shellfish | £32.3 million | 4.7% |
| 4. | Coffee, tea, cocoa, etc | £20.5 million | 3.0% |
| 5. | Unspecified goods | £6.8 million | 1.0% |
Source : BusinessinsiderAfrica