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Business & Finance

Ghana’s ports report slight uptick in trade activity in March 2024

By : cd on 29 May 2024, 06:35     |     Source: citinewsroom

International trade through Ghana’s main harbours, Tema and Takoradi, has seen a promising surge, with laden container traffic for inbound and outbound containers hitting 60,000 as of March 2024.

This uptick marks a notable increase from the 57,000 recorded in January of the same year, as reported by the Bank of Ghana’s May 2024 Summary of Economic and Financial Data.

While these first-quarter figures for 2024 appear significant, they still fall short of pre-pandemic levels. In the post-pandemic era, container traffic in the fourth quarter of 2021 stood substantially higher at 182,550, albeit experiencing a slight decline from 195,135 in 2020.

The trend of marginal decline persisted, with container traffic at both Tema and Takoradi hovering around 150,000 in the third quarter of 2023.

Stakeholders, particularly within the trading community, have voiced concerns over the perceived loss of port traffic to neighboring countries, notably Lome. However, these claims were met with a staunch rebuttal from the Ghana Ports and Harbours Authority.

The recent uptick in trade activity through Ghana’s ports signifies a positive trajectory for the nation’s economy, showcasing resilience and recovery amidst global challenges.

As the country continues to navigate through economic fluctuations and external pressures, the sustained growth in port traffic underscores Ghana’s strategic position as a key player in the regional trade landscape.