Activities at Ghana’s Ports Begin to Rebound Following Slow Start in 2023

Customs House Agents have reported a noticeable uptick in activities at Ghana’s ports, signaling a rebound after sluggish traffic volumes observed since the start of the year.

Data from the latest Composite Index of Economic Activity reveals that approximately 57,000 containers have transited through the ports as of July 2023.

While this figure represents a substantial decline compared to July 2021, it marks a significant improvement over the approximately 40,000 containers recorded in January of this year.

Customs house agents attribute this modest recovery to the relative stability of the Ghanaian cedi and improvements in certain key macroeconomic indicators.

Yaw Kyei, the President of the Association of Customs House Agents, expressed optimism about the potential for further improvement in the last quarter of the year.

The recent challenges faced by Ghana’s ports, including forex costs, high port tariffs, and reduced traffic volumes, have prompted concern within the industry and among economic observers. The ports serve as vital conduits for trade and commerce, making their smooth operation a crucial component of Ghana’s economic health.

While the recovery may not yet match pre-pandemic levels, the signs of progress are encouraging.

Source: Ghana Business