The latest figures from the Bank of Ghana indicate that, the country received 8.95 billion dollars from her exports in August 2017, compared to the estimated 7 billion dollars it spent on importing goods for the same period in 2017.

While the total exports represent a growth of 27.8% between August 2016, and the same period in 2017, total imports represents a drop of 12.27% within the one year period.

The Bank of Ghana (BoG)’s summary of economic and financial data indicates that, Ghana started recording positive balance of trade at least within the first quarter of 2017.

The country in August 2017, made 8.95 billion dollars in export revenue from cocoa, oil and gold altogether.

This represents 1.95 billion dollars more, compared to the 7 billion dollars the country earned for the same period this year.

Of the amount, revenue from oil exports went up by over 140 percent between August 2016 and the same period in 2017.

The country, in August 2017, raked in 1.68 billion dollars up from the 683 million dollars recorded in the same period last year.

Meanwhile, gold recorded the second highest growth of about 25 percent. Export revenue from the mineral went up from 3 to 3.79 billion dollars within the one year period.

However, cocoa recorded the least growth in export revenue of about 16 percent.

The cash crop raked in 1.99 billion dollars in August 2017, from the 1.72 billion dollars recorded in August 2016.

On imports, Ghana’s oil imports witnessed the highest drop of about 28 percent; from 1.2 billion dollars to 900 million dollars.

But non-oil imports such as food and other consumables amounted to 6.86 billion dollars, down from the 7.6 billion dollars between August 2016 and August this year.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post Ghana’s exports rise to $ 8.9 billion appeared first on Citi 97.3 FM - Relevant Radio. Always.

This was made known by the Public Relations and Marketing Manager of the Takoradi Port Peter Amoo Bediako at a public lecture held on the revitalization of the railways in Takoradi, organized by the Sekondi Takoradi Chamber of Commerce and Industry.

Mr. Amoo Bediako indicated at the forum that “traffic has increased by over 39 percent as compared to what was realized in the 2015/2016 financial year…revenue accrued from import and export duties at the port also tremendously increased by 30% and 47% respectively with traffic also increasing by over 39%.”

[contextly_sidebar id=”xnKRfAGkJkY2LHRmj2wVKzYkkqJT84H7″]This according to him has enhanced the competitiveness of the port and boost local economy expansion.

“Now vessels that were going to other countries because of our low draft will find it more convenient to call at Takoradi,” he added

To meet the ever-growing demands of the port users, a major expansion and investment programme was undertaken to transform its capacity, facilities, and operations.

The original master plan recommended segregation of cargo and improved container handling facilities. However, the discovery of oil prompted a new master plan to accommodate facilities to service offshore support operations, development of bulk and container terminals, the positioning of a floating dock for vessel repairs with depths ranging from 10 to 16 metres.

Phases one and two of the project included the extension of the breakwater, provision of a bulk terminal/jetty to handle bulk commodities and dredging of the access channels. The berths will also be dredged to a depth of 16.0 metres.

Mr. Amoo-Bediako further added that “in terms of dredging, the deepest part of the old port was 11 meters with the key just about 10 meters which meant that capacity to handle bigger vessels and bring in more revenues was greatly limited. With the expansion, we are talking about an increase of minus 16 which means bigger volumes and bigger vessels can be handled”.

He concluded that 200 meters of the entire 800 meters of the bulk jerky at the Port have been completed “and by July this year, another 210 meters would be completed”.

–

By: Obrempong Yaw Ampofo/citifmonline.com/Ghana

The post Takoradi port revenue increases after expansion works appeared first on Citi 97.3 FM - Relevant Radio. Always.

Pop singer, Justin Bieber, has been accused of attempted robbery, a Los Angeles Police Department official said on Tuesday, following media reports that he had tried to snatch a young woman’s mobile telephone.

The post Justin Bieber accused of attempted robbery appeared first on Citi 97.3 FM - Relevant Radio. Always.