Resource information
The report first reviews macroeconomic
aspects in Ghana, identifying that much of the
non-traditional exports' expansion, reflects sporadic
foreign investments in key agro-processing activities -
which enjoy preferential treatment in European markets -
but, its value-added seems at best marginal, questioning its
sustainability, should preferences be removed. Besides
compliance with a growing number of European Union
regulations on environmental, and food safety standards,
Ghana will need to create a favorable business environment
to attract foreign investment, and raise competitiveness of
exporting firms. The study then analyzes microeconomic
competitiveness, through four case studies on natural
resource-based exports; efficient import substitution, and
expansion into regional markets; labor-intensive, light
manufactures and services; and, culture and arts
manufactures. Constraints identified by exporters are
industry specific, while, main cross-cutting issues, relate
to the trade regime, and the provision of infrastructure.
Findings of this report suggest that an export strategy for
a country at Ghana's stage of development, should be
based on two basic principles: maximizing the returns to
current comparative advantage; and, over time,
"catalizing" export diversification towards more
sophisticated sources of advantage.
