According to the Bank of Ghana 2023 November Monetary Policy Report, international trade at the country’s two main harbours (Tema and Takoradi), as measured by laden container traffic for inbound and outbound containers, declined in November.
The report underscores a 3.8% year-on-year reduction in total container traffic, with September 2023 witnessing a tally of 48,876 laden containers—a dip from the 50,807 recorded in the same month of the preceding year.
The overarching trend reveals a more pronounced decline when viewed in cumulative terms for the initial three quarters of 2023. The total container traffic registered a 9.3% downturn, settling at 455,966 containers.
This contrasts with the more buoyant figure of 502,530 containers documented during the corresponding period in the previous year.
Such contractionary trends in container traffic not only reflect upon the immediate trade dynamics but also necessitate a deeper examination of the underlying economic factors influencing Ghana’s international trade landscape.
