Ghana registers positive trade balance with EU
Tourists exchange rates
Accra
(Greater Accra) 09 August 2000
Ghana
registered a positive trade balance of 70 million Euros in her trading
relations with the European Union from 1994 to 1998.
Exports
rose from 778 million Euros to 1.2 billion Euros in the last five years, while
imports from the EU, increased from 658 million Euros to 1.14 billion Euros
over the same period. Statistics for 1999 are not yet available.
According
to the annual report of the European Commission, Ghana continues to be one of
the main trading partners in the EU among the African, Caribbean and Pacific
countries.
The
report said the last five years actually saw a limited negative commercial
balance for Ghana in 1996 and in 1997 while a positive balance was registered
in 1994, 1995 and 1998.
Major
exports to the EU are still based on primary commodities like cocoa, gold, aluminium
and wood.
Ghanaian
imports from the EU consisted mainly of industrial equipment and manufactured
goods.
The
report however said commitment and payment rate patterns for the sixth and
seventh Export Development Funds (EDFs) show an imbalance between commitment
and disbursement.
For
instance the sixth EDF National Indicative Programme (NIP) shows that the EU
provided 80.3 per cent of commitments but only 42.1 per cent was disbursed in
1993.
In
1994 commitments dropped to 79.9 per cent but disbursements went up to 51.0 per
cent while from 1995 to 1998 commitments rose from 85.9 per cent to 96.6 per
cent and 99.6 per cent to 99.8 per cent respectively.
Similarly,
the disbursement pattern rose from 57.1 per cent in 1995 to 61.1 in 1996 and
69.8 per cent in 1997, to 79.7 per cent the following year.
Last
year, 99.7 per cent of commitments were provided but actual disbursement was
lower at 87.4 per cent.
The
seventh EDF NIP saw a far different story in 1993, as commitments were 18.5 per
cent but actual disbursements ended at 10.6 per cent.
GRi…/
Tourist Exchange Rates
Tourists exchange rates
CURRENCY BUYING
SELLING
Pound sterling 8,600 9,000
U.S. dollar 5,700 6,000
Canadian dollar 4,000 4,300
Deutch marks 2,900 3,300
French franc 890 940
Dutch guilder 2,500 2,850
Swiss franc 3,500 3,850
C.F.A. franc 8,900 9,300
GRi