Weekly Trade Spotlight: Trade with Ghana
Ambassador Demetrios Marantis is in Africa this week. One country he’s visiting is Ghana, where he’s meeting with government officials and private business owners to discuss strengthening our bilateral trade and investment relationship.
The United States has a growing trade relationship with Ghana. In 2010, two-way trade between the United States and Ghana was valued at nearly $1.3 billion. Goods exports from the United States to Ghana grew by 55 percent from 2009 to 2010, to $983 million. Primary U.S. exports to Ghana include mineral products, machinery, and vehicles.
U.S. imports from Ghana have also increased dramatically in recent years, growing by over 100 percent between 2009 and 2010, to $274 million. Ghana is a beneficiary of the African Growth and Opportunity Act (AGOA), a preferential market access program that allows most products produced in sub-Saharan Africa to enter the United States duty free. Top Ghanaian products entering the United States include cocoa, vegetables, fruits, precious metals, baskets, and apparel. Through the U.S.-Ghana Trade and Investment Framework Agreement (TIFA), the United States and Ghana have a strong framework in place for high-level dialogue on trade and investment issues.