Ghana’s trade ranking declines amid infrastructure and policy challenges

Ghana dropped from 3rd to 7th place in the Stanbic Bank Africa Trade Barometer (SB ATB) rankings, reflecting growing trade obstacles.

The report cites issues with infrastructure, Customs processes, and high taxation, with Ghana’s infrastructure index falling from 46 to 41, impacted by telecom disruptions and power supply challenges.

Additionally, government support concerns and unclear Customs duties add trade barriers.

Despite access to finance difficulties, particularly with high-interest rates, business confidence improved, rising from 47 to 55 due to ongoing economic reforms under the IMF’s Extended Credit Facility.

While trade openness declined, rising imports from Asia and projected export volume growth show cautious optimism for recovery amid ongoing policy reforms.