29th January 2024 11:30:28 AM
1 min readVice President of think-thank IMANI Centre for Policy and Education, Bright Simons, is concerned about the country's deficit and the lack of measures from authorities to address the matter.Currently, Ghana's imports exceed its exports, leading to a trade deficit. For Mr Simons, the manufacturing sector is of importance.
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In a post on X, Mr Simons alleged that Unilever, said to be one of Ghana's most advanced manufacturing companies, is importing almost double of its inputs from affiliates compared to what it exports to these same affiliates.
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"When your most powerful & most advanced manufacturing companies, like Unilever, are importing more than 150x more inputs from affiliates than they export to same (amounting to ~30% of sales at cost), then it is time to do something dramatic about the business climate, Ghana!," he wrote.
to the Bank of Ghana, the country recorded a trade surplus of 112.70 USD million in
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August 2023.The balance of trade in Ghana averaged -101.17 USD Million from 2004 until 2023, reaching an all-time high of 666.99 USD million in March 2022 and a record low of -733.10 USD million in October 2013.
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