Ghana making significant progress in export: central bank

Source: Xinhua| 2018-12-01 19:34:27|Editor: xuxin
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ACCRA, Dec. 1 (Xinhua) -- Ghana is making significant progress in the performance of its export sector, Governor of the Bank of Ghana Ernest Addison said here late Friday.

In his keynote address at the Fourth Ghana Mining Awards held by the Ghana Chamber of Mines(GCM), Addison noted that the mainstream export commodities, oil, gold and cocoa, over the last two years had been posting strong performances.

"Ghana has swung from a country that recorded trade deficits to one that is currently recording trade surplus," he stated.

He described the performance as a major turn-around "in our country's macro-economic fundamentals which as you can see benefited us sincerely in 2017 with the stability that we saw in the performance of the currency."

Whereas mineral exports recorded a value of more than 6 billion U.S. dollars last year, the value recorded for this year amounted to 5.8 billion dollars as of the end of October, said the governor.

"So we are on course to meeting the 6 billion dollars target this year," Addison maintained.

The governor expressed the satisfaction of the central bank at the improvement in the repatriation of all export earnings into the country.