Here are some goods to import for good returns that make you richer. If Bolga is too far, find many of these men in Accra, where their colourful baskets and items can be seen hanging from trees all over the city. ABOUT US:-Syycol Limited is a limited liability company that imports and distributes fast moving consumer goods (FMCG) in the Republic of Ghana and across West Africa.Founded in 2013, Syycol initially specialized in the distribution of coffee, tea and hot chocolate to hospitality and modern trade outlets in Ghana; while providing serviced vending machines and office supplies . Over 16 sub-categories of food are imported into the country including cereals, meat, fish, spices and fruits among others. The best performing category of MIG goods is Eggs (with 91% of all eggs on sale produced in Ghana), followed by Bottled water (with 56% MIG). and over 1Mio. You dont need to have capital for a 40ft container full of electronics to start before you can on these 7 Fast Moving Goods to Import to Ghana for Big Profits. Please select your primary business profile. Currency Act,1964 (Act 242) 6B.5: Goods imported contrary to customs laws: Products move fast, with cycles lasting not more than 9weeks. Photographer: Cristina Aldehuela/Bloomberg , Bloomberg. Gold is the top precious metal that is exported from Ghana. Accessed November 07, 2022. https://www.statista.com/statistics/1234752/leading-import-commodities-in-ghana/, UN Comtrade. This is a big category of products. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Hence, considering . Below are the Export Companies In Ghana. Ghana exports power to neighbouring Togo and has a provisional agreement to export power to Cote D'Ivoire if the latter requires it. Goods bearing designs and imitation of money: All goods which bear a design in imitation of any currency or bank note or coin in current use in Ghana or elsewhere. Find Import and Export expertise in Ghana. Cereals : USD 653.819342 Million (5.7%), 5. On Jul 9, 2015. Thanks man. President Nana Addo Dankwa Akufo-Addo says Ghana supports the abolishing of the death penalty for ordinary crimes that exist in the Criminal and Other Offences Act, 1960 (Act 29) and the Armed Forces Act. Import-substitution industries include electronics manufacturing. Looking for money Like many entrepreneurs, I am also a mother. Most imported products are for local consumption. Profit margins are between 10% and 20%. Both ports have undergone extensive rehabilitation, which has improved efficiency. For example, the imported goods do not offer cheap rates over a long time. Learn more about how Statista can support your business. Nevertheless, local rice cultivation does not meet local demand. Phone: 026 460 1488. I would like to know what would you offer to start I mean, in terms of choosing category Hi Joseph, thank you for your informative and eye opening thoughts on imports. Source: yen.com.gh 2019-03-06 Ghana's port charges highest import duty in West Africa - GUTA Formerly called Gold Coast, Ghana is rich in both sold gold and alluvia gold. Address: Sanyo Rd, Tema, Ghana, Heavy Industrial Area, Tema. Approximately 9.53% of imported commodities were supplied from China while USA shipped products worth 4.06% to Ghana. Nuclear reactors, boilers, machinery, etc : USD 1526.840233 Million (13.32%) 3. Please enter your password password length must be between 8-16 characters with only underscore(_), dash(-), hash(#) and dot(.) Phone: 024 443 3048. America buys everything big and small - from machines and mineral oils, to food products and pharmaceuticals. Answer (1 of 4): Dear Sindhu, For exporting or importing goods from India, the business or individual must obtain an Import Export Code or IE Code from the Directorate General of Foreign Trade. Among all the top products imported to Ghana, Non Crude Oil contributes to 2.28% of total trade value, equal to US$298,267 thousand. Ghanas petroleum sector involves upstream and downstream activities. Goods arriving in the . All data and information provided on this site is for informational purposes only. Refrigerators, freezers and heat pumps nes : USD 46.112502 million, 5. Trade data of 2018 reveals that Ghana importers have spent most amount on the following 10 subsections of Vehicles other than railway, tramway. Machines nes having individual functions : USD 52.349809 million, 4. Risk is moderate. Harvesting, produce cleaning and grading machinery : USD 3.756633 million, 10. The Asian countries have a competitive advantage in this area, producing and selling electronic products far cheaper than what can be produced in Africa. The best performing category of MIG goods is Eggs (with 91% of all eggs on sale produced in Ghana), followed by Bottled water (with 56% MIG). The general trend is towards vehicles with smaller engine capacity. The USA is the world's top economy and largest market, and it does a lot of business with the rest of the world. Vehicles other than railway, tramway : USD 1757.796601 Million (15.34%) 2. allowed. UN Comtrade. Trade Map - Trade statistics for international business development. Below are the Import And Export Companies In Ghana. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information Get full access to all features within our Corporate Solutions. In 2020, Ghana was the world's biggest importer of Used Clothing ($182M) In 2018 alone, the US spent more than $2.6 trillion on imports from over 200 countries. Last published date: 2022-07-22 To see the most current list of absolute and conditional prohibitions on imported goods, please review the Import Prohibitions and Restrictions page of the Ghana Revenue Service's website. According to the political science analyst, government should see to it that traders import goods that cannot be readily produced in Ghana. Please do not hesitate to contact me. The second imported are Passenger Vehicles, which account for 1.09%. The main trading items included crops, ivory, incenses, pottery, woven baskets, carved masks, and above all salt. These goods often have long shelf lives and storage isnt costly. Over the years, these economies have not been able to implement effective import substitution policies to correct the impact of the large imports. Ghana is most known for its gold, cocoa beans, and wood products, which are its . The sole declined product amongst the import group was Printed books, newspapers, pictures etc because of its year-over-year drop of -82.92%. Secondly: Having isolated some of the goods you think can in US$ Thousand 2019. I live in Accra and I am currently thinking of starting an import business by mid this year. Ghana imports most of its Agricultural goods from India, United States. In 2020, goods imports for Ghana was 12,428 million US dollars. This essay "Locally Produced Goods Versus Imported Goods" explores the reasons why locally produced goods are better than imported goods. WHAT YOU WILL LEARN. Cereal Investments Company (CIC . Ten leading products imported into Ghana as of 2019 (in billion U.S. dollars) Tools for working in the hand, non electric motor : USD 6.012675 million, 9. Are you interested in testing our corporate solutions? A "Made in Ghana" product is a product (goods or even services) that is manufactured in Ghana and sold in the country. Parts and accessories for motor vehicles : USD 47.701397 million, 7. The main opportunities for U.S. exporters in this sector lie in the export of used vehicles, particularly used cars and trucks, to Ghana. Petroleum Gas Petroleum gas exports account for 13.9% of Nigeria's total exports ($5.89 billion) which ranks the African nation 11th of global exporters of a worldwide export market that is . Please enter the verification token below. It not only abates reliance on your indigenous customers, but also allows for greater market reach and profit. Dollars). Ghana Product Imports by country. While this is not a recommendation by us, you can as well look into that direction and see if it fits into your desired goods for importation. Ghana importers had spent huge amount over the following 10 subcategories of Electrical, electronic equipment in the year 2018. September 1, 2020. We have sent a verification code to your email. Special purpose motor vehicles : USD 15.212683 million, 9. Ghanaian currency must be either spent or exchanged upon departing or it will be confiscated. Citing toilet rolls as an example, Prof. John Osei. The standard VAT rate is 12.5%, except for supplies of a wholesaler or retailer of goods, which are taxed at a total flat rate of 3%. But imports are not only limited to sea transport. Elite Import And Export, LLC. A licence is required from the Ministry of Finance. The worst performing categories are jointly Rice and Cosmetics/beauty products with 6% each of products sold in this category being MIG. Cereal is the primary food category imported with an average value of GHC 1.15 billion of different types of cereals imported annually. Prices climbed 1.9% in the month. The checks are made to valuation and classification. U.S. equipment is highly perceived and non-U.S. producers of construction and earthmoving equipment were somewhat slow to enter the market initially. Theres tremendous growth in patronage for clothes made from local fabrics over the past decade, thanks to some initiatives at the government levels and industry levels. Worst performing categories, however, were jointly rice and cosmetics and beauty products with 6% each of the products sold in this category produced locally. You must also not forget to choose product which has a markup high enough to cover the operational and shipping cost. 2018 trade data of Ghana represents that the Ghana importers has majorly spent a huge amount over the following 10 subclusters of Nuclear reactors, boilers, machinery, etc products. Liquid, gas centrifuges, filtering, purifying machine : USD 68.641137 million, 3. Electrical, electronic equipment : USD 730.738843 Million (6.38%), 4. Aluminum was the fastest grower among Ghana's top 10 export categories, up by 53.7% from 2020 to 2021. Please enter your password Incorrect password, Don't have an account? Additionally, parts and. Motorcycles, bicycles etc with auxiliary motor : USD 56.984795 million, 6. Mentioned below are the top 10 product categories that Ghana imports. Almost any product you can think of. Signup now, Please provide your company name Name must contain characters only Name is too short Name must not exceed 70 characters, Please provide your Email Address Incorrect Email Address {{registerMessage}}. Based on the statistics of United Nations, Ghana imported US$13,075 million worth of goods around the world in 2018. Pumps for liquids : USD 69.351892 million, 2. There are many other factors working specifically in favor of this emerging fast-moving consumer goods sector: (1) urbanization, (2) duties and pricing, and (3) local preferences, and (4) branding. What is Ghana's number 1 export? Ghana, for instance, is expanding its harbors to accommodate the growing activities at the port, including importation. What do Ghana import most? Then you can access your favorite statistics via the star in the header. ", UN Comtrade, Ten leading products imported into Ghana as of 2019 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1234752/leading-import-commodities-in-ghana/ (last visited November 07, 2022), Ten leading products imported into Ghana as of 2019, Leading merchandise exporters worldwide 2020, by value, Share of leading merchandise exporters worldwide 2020, Leading global merchandise importers 2020, by importing nation, Share of the leading merchandise importers worldwide 2020, by importing nation, Total value of U.S. international trade 2000-2021, U.S. trade balance of goods and services 2000-2021, U.S. foreign trade - balance of trade goods and services by quarter 2010-2022, U.S. foreign trade - imports of trade goods and services by quarter 2010-2022, U.S. foreign trade - exports of trade goods and services by quarter 2010-2022, Total monthly imports and exports of goods of the U.S. 2017-2021, Total value of U.S. trade balance 2015-2022, by month, Leading 15 trade partners with the United States 2021, by country, Leading 15 countries share of U.S. total trade in goods 2021, Total value of U.S. trade in goods with Canada 2004-2021, Total value of U.S. trade in goods with Mexico 2004-2021, Total value of U.S. trade in goods with Japan 2000-2021, Total value of U.S. trade in goods with Germany 2000-2021, Texas' imports and exports of goods 2017-2021, Illinois' imports and exports of goods 2017-2021, New York's imports and exports of goods 2017-2021, Michigan's imports and exports of goods 2017-2021, New Jersey's imports and exports of goods 2017-2021, Value of EU imports from China 2021, by commodity, Main import goods from Germany to Vietnam 2017, Vietnam's import and export trade with Germany 2008-2017, Mexico: eye make-up preparations imports value 2012-2017, Mexico: preparation for permanent hair waving & straightening imports value 2012-2017, Mexico: champagne imports value 2012-2017, Imports value growth rate in Japan 2019, by commodity, Paraguay: beverages and tobacco imports value 2017, by country of origin, Ten leading products imported into Ghana as of 2019 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre, Commodities not specified according to kind, Crude petroleum oils and oils from bituminous minerals, Parts and accessories of the motor vehicles, Petroleum gases and other gaseous hydrocarbons, Human blood and animal blood prepared for therapeutic uses, Automatic data processing machines and units thereof, Electrical apparatus for line telephony or line telegraphy. Ghana Imports. These days you dont have to be a used-car dealer to import cars. Read more Ghana: Import of goods from 2011 to 2021 (in billion U.S. dollars) Download full paper File format: .doc, available for editing. However, third rapid improved imports were seen in Silk import by providing uptick of 1168.56%. A . So let's move on to the top 50 fast-selling products you can import into Nigeria starting right now. Five door cars are generally preferred over three door cars. The goods which attract VAT at importation are classified as such in the Customs Division Tariff in accordance with the Harmonized System (HS) Code classification which encompasses the ECOWAS Common External Tariff (CET). Top 5 Export Partners of Ghana According to trade statistics of Ghana, country's top-most export destination is India, which imported goods worth US$ 3.6 billion in 2018. statistic alerts) please log in with your personal account. Ghana Imports By Country - was last updated on Friday, November 4, 2022. Earthmoving equipment is in demand for use in road construction, mining operations and in commercial/residential property development. Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market. In 2021, goods worth around 13.63 billion U.S. dollars were imported to Ghana. Ghana has strict regulations on the temporary importation of gold, diamonds and other natural resources. We have sent a verification token to your email / Mobile Number. Nigeria has trade agreements with some African countries such as Cote d'Ivoire and Ghana. dollars)." Discounts would make your profit margin even bigger. Ghana has a total of 125,000 hectares of land under rice cultivation. Hope this helps. A market in Accra, Ghana. Ghana's top 10 imports had edged near 61.63% of the overarching value of its product purchases from other countries. Normally you want to choose a category of product that would be easy for you to obtain around you. Ghana and most African countries such as Nigeria, Togo, Kenya, Gambia and many others have large import-dependence. The second imported are Passenger Vehicles, which account for 1.09%. Among all the top products imported to Ghana, Non Crude Oil contributes to 2.28% of total trade value, equal to US$298,267 thousand. Their economies run on huge imported goods. We aim to make Connect2India as single stop source for meeting all you trading requirements in India. Chop bar. Exporting should be a natural step for any successful business. According to the Frost & Sullivan Africa Progress . Audio electronic equipment, except recording devices : USD 11.566919 million, 8. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The financial intermediation role is one that runs on integrity, professionalism and trust. Price and financing terms are key considerations for buyers due to the low access/high cost of local credit. Your email address will not be published. . The United States, the United Kingdom, and Germany are also among Dubai's trading partners when it comes to exports. This classification also includes goods exempted under the law. ATTEND MY GROUP IMPORTATION TRAINING CLASS. Electric motors and generators, except generating set : USD 30.751427 million, 4. In 2014, China ($4.1bn), the Netherlands ($1.5bn), the US ($1.1bn), Nigeria ($920M) and India ($668M) were among the top sources of Ghanas imports ($14.8bn) according to OEC. Required permit(s) from any of the regulatory agencies, dependent on the type of goods. Log in. Food In 2014, China ($4.1bn), the Netherlands ($1.5bn), the US ($1.1bn), Nigeria ($920M) and India ($668M) were among the top sources of Ghana's imports ($14.8bn) according to OEC. Address: Next to Regional Maritime University Nungua, Accra - Tema Beach Road, Accra. Everyone needs food to survive, so you can be sure of getting zero losses and high profit. Cars (5.5 . Currently, you are using a shared account. Further, We aim to enable and facilitate end-2-end business by providing all the resources related to trade, be it importer, exporters, service providers, market demand, trade statistics, regulatory requirements etc., all at single place. Margins range from 20% to 100% depending on type of product. Electric transformers,static converters and rectifier : USD 58.009757 million, 2. during the period 1995 to 2002. This would however require you to make extensive marketing, online and offline. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook However, larger quantities often earn you discount in some cases. Baskets woven by men of the FraFra tribe in the northern town of Bolgatanga, these colourful baskets can be used as large standing laundry baskets, shopping baskets, and smaller handbags. Most of these products are imported from UK, Asia, Europe and the US. In 2017, the country purchased commodities worth US$ 12.7 billion. You can either import them as personal imports or as commercial imports. A Custom Duty Drawback that allows exporters to draw back up to 100% of duties paid on material imported to produce goods for export. It may take you about three weeks or more to sell them but the returns are surely worth the wait. Prices vary largely in line with quality and brand. The worst performing categories are jointly Rice and Cosmetics/beauty products with 6% each of products sold in this category being MIG. Machine tools except lathes to drill, bore mill threa : USD 6.533409 million, 8. What was the main trade item in Ghana? Risk is high as products are perishable (most have comparatively short periods to expire) and storage could be costly. Public transport type passenger motor vehicles : USD 90.483692 million, 4. It seems from your question, that you are sure of exporting "something" to Ghana. A larger share of Ghana's imports originate from developed countries. facts. Printing and ancillary machinery : USD 22.903782 million, 7. These precious metals and gems fetch Ghana a whopping US$4 . The Ghanaian construction industry keeps growing with major construction activities in the roads, highways and bridges sectors, coastal works and residential accommodation. Annual imported inflation quickened to 35.2% from 33.9% a month prior, outpacing domestic . Pingback: Top 50 Import Export Business Ideas and Opportunities, Hi Joseph Currency: Those arriving or departing Ghana with more than $5000.00 in cash are required to declare the amount at the border. 6 Relevant Institutions Regulating Ghanas Mining Industry. This has been a long practice rewarding as well. Statista. 10. Electric filament, discharge lamps : USD 12.549432 million, 7. It only takes a minute. Plastics and articles thereof : USD 530.545625 Million (4.63%), 6. Memory Cards: To save those precious files. 1. You don't have to travel to China as the case may be except you have much amount of money to foot the travel bill. To be able to recommend specific products for you, i would also need to know how much capital you are willing to invest in your export business. Hello {{userInfo.first_name||userInfo.userName}}, 1. In addition, it reflects the percentage share that each product category depicts in terms of Ghana's overall imports. A perfect too for those looking for B2B marketing email lists for email marketing in Africa. The most important trade partners of the UAE are Japan, India, Singapore, Thailand, and South Korea. Ghana imports food, live animals, beverages and tobacco; Crude materials except food/fuel, minerals, vegetable oil . When seen from a celibate interpretation, 21.52% of Ghanas overall imports in 2018 as per value was acquired from top 5 countries. Even those operating small joints are getting some good . Exports are goods and services that are produced domestically, but then sold to customers residing in other countries. After 2002, however, imports from developing countries bega n to increase, while . . Upon satisfactory checks a Final Classification and Valuation Report (FCVR) or Gateway pass is issued to allow import to continue. Vehicles other than railway, tramway : USD 1757.796601 Million (15.34%), 2. Its main imports partners are China, United States, Belgium, United Kingdom and France. These values are To many, raising money to start a small business is a herculean task. Trailers and non mechanically propelled vehicle nes : USD 18.129173 million, 8. Electric equipment with heating element, domestic etc : USD 14.298563 million, 6. Please enter the verification code below. Trade Map provides - in the form of tables, graphs and maps - indicators on export performance, international demand, alternative markets and competitive markets, as well as a directory of importing and exporting companies. First, urbanization is shaping the nature of demand and distribution for soaps and detergents. In. Electrical switches, connectors, etc, for less than 1kV : USD 40.885515 million, 3. Businesses and individuals are importing containers of new and used clothes for sale in Ghanaian markets and shops. Ghana imports mostly industrial supplies, capital and consumer goods and foodstuffs. Recently however, there are indications that non-U.S. competitors are looking at the Ghanaian market more aggressively. It may require large capital if you are importing brand new products, but a lot less if you want to deal in used-products. Ghana currently uses the Harmonized System (HS) Customs Code to classify goods. (September 1, 2020). President Akufo-Addo made that statement when Amnesty International, Ghana, called on him at the Jubilee House . Ten leading products imported into Ghana as of 2019 (in billion U.S. dollars) [Graph]. Motor vehicles for the transport of goods : USD 476.844433 million, 3. Also shown are the trade value and the percentage share for each import category as well as the growth rate during the past 5 years. Imports The top imports of Ghana are Refined Petroleum ($669M), Cars ($492M), Rice ($391M), Delivery Trucks ($283M), and Coated Flat-Rolled Iron ($273M), importing mostly from China ($6.75B), Netherlands ($867M), United States ($787M), India ($749M), and United Arab Emirates ($522M). Whichever market you choose (upmarket or low-end), your customer base is in the hundreds of thousands. Modern scientific methods of rice cultivation through mechanization and irrigation are gradually increasing, particularly in the northern savanna zone and the Accra Plains of the Greater Accra region. To shorten your trading cycle, you can consider shipping by air but this can be costly too and shrink your margin. Mentioned data along with the percentage gains clears that the strongest demand of goods lay in Vehicles other than railway, tramway imports amongst the Ghana businesses. All these subcategories along with amounts as well as overall percentage gains clarifies that within Ghana business and consumers the largest demand was for Nuclear reactors, boilers, machinery, etc imports. Since 2016, these three groups of commodities have equally split and accounted for more than 30% of total Import value. 1.CHINA IMPORTATION WITHOUT TRAVELING ABROAD. The results also that the leading import sources for Ghana at a continental level include Europe, Asia, and Africa. Motor vehicles for transport of persons (except buses : USD 954.307934 million, 2. This means you make about 40% on these products every 3 months. Keypoint - China Laptops, Pads, Mobile phones, Children toys of all kinds, and Shoes are known to sell very well in Ghana. The most common cereals imported are maize, wheat, rice, oats and millet. Ghana Imports By Category Value Year; Vehicles other than railway, tramway: $1.69B 2019 Machinery, nuclear reactors, boilers: $1.36B 2019 Electrical, electronic equipment: $685.02M 2019 Cereals: $522.91M Tractors (other than works, warehouse equipment) : USD 62.955543 million, 5. 10.0686 per dollar at 10:11 a.m. in the year 2018 cocoa beans and $ 4 import most imported goods in ghana continue Harmonized tariff System code level: //www.smallstarter.com/browse-ideas/want-to-export-african-products-to-the-usa-important-tips-you-need-to-know/ '' > < > Per Ghana import data & amp ; delivery trucks are the top 1 import markets for goods Tools for working in the hundreds of thousands were somewhat slow to Enter the market if the product is allowable Stood at 2nd position with US $ 4 machine: USD 0.379898 million, 6 data, three! 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