In July 2024, Ghana's import activities showed significant fluctuations, with varying levels of trade volume and value across different sectors. This article provides a detailed analysis of these import data, focusing on the main commodity categories and trade partners, with all data sourced from NBD Data's robust foreign trade database (en.nbd.ltd).
Overall Import Statistics
In July 2024, Ghana recorded a total of 184,453 import records, representing a 14.65% increase from the previous month but a 12.26% decrease compared to the same period last year. The total import value for this period was approximately USD 1.518 billion, reflecting a 28.22% increase from June 2024 and a substantial 54.92% year-over-year growth.
The number of importers slightly increased to 8,914, up by 4.96% from the previous month but down by 35.06% compared to July 2023. The total number of suppliers also grew by 7.34% from June, reaching 9,177, though this was a 34.88% decrease year-over-year.
Top Five Import Commodity Categories
In July 2024, Ghana's imports were primarily concentrated in the energy, industrial machinery, and metal products sectors. The top five import commodity categories were as follows:
Petroleum Oils (HS Code 271012): The import value for petroleum oils reached USD 296 million, up by 30.99% from the previous month, reflecting significant expansion in the energy sector.
Other Petroleum Products (HS Code 271019): Despite a 12.66% month-over-month decline, this category's import value still reached USD 278 million.
Other Articles of Iron or Steel (HS Code 732690): The import value surged to USD 97.56 million.
Mechanical Shovels and Excavators (HS Code 842952): The import value increased by 76.62% from June 2024, totaling USD 40.47 million, with a year-over-year growth of 107.19%.
Liquefied Propane (HS Code 271113): The import value stood at USD 36.99 million, with a slight month-over-month decline of 1.44%.
Imports from the United States
The United States remains a significant trade partner for Ghana, playing a prominent role in the country's import statistics for July 2024. Below are the main commodity categories imported from the United States:
Passenger Cars with Engine Capacity between 1500cc and 3000cc (HS Code 870323): Ghana imported 946 records of this category, with a total value of USD 13,546,039, marking a USD 525,860 increase from the previous month and a year-over-year increase of USD 237,769.
Passenger Cars with Engine Capacity over 3000cc (HS Code 870324): This category recorded 142 import entries with a value of USD 4,263,260, a month-over-month decrease of USD 141,011, but a year-over-year increase of USD 932,307.
Wool or Animal Hair Textiles (HS Code 504000): Ghana imported 91 records of this category, with a value of USD 2,775,880, reflecting a USD 34,667 month-over-month increase and a USD 882,827 year-over-year increase.
Trucks and Other Vehicles (HS Code 870431): This category recorded 108 import entries with a total value of USD 2,413,294, showing a month-over-month increase of USD 247,123 and a year-over-year increase of USD 231,205.
Passenger Cars with Engine Capacity between 1000cc and 1500cc (HS Code 870322): Ghana imported 190 records of this category with a total value of USD 2,354,600, with a month-over-month decrease of USD 81,839 and a year-over-year decrease of USD 137,173.
These data indicate that automobiles and related products hold a significant position in Ghana's imports from the United States, especially in the number and value of passenger car imports. This highlights Ghana's ongoing demand for U.S. products and market preferences for different types of vehicles.
Key Trade Partners
In July 2024, Ghana's key trade partners included:
Conclusion
The data for July 2024 reveals the dynamic changes in Ghana's import activities, with significant growth in energy-related imports and strong trade relationships with China and several European countries. These trends underscore the importance of monitoring trade developments to understand market demand and economic shifts.
Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.
For more detailed data, please visit NBD Data's official website: en.nbd.ltd