Switzerland imported over $2 billion worth of
gold from Ghana in 2016 alone for conversion to finished products for
the world market. This shows an overwhelming increase of about $90
million dollars over the 2015 figure of $1 billion.
The Charge de Affairs of the Swiss Embassy in Ghana, Mr. Roland
Fischer, announced this at the annual Swiss-Ghanaian Chamber of Commerce
(SGCC) cocktail and business executives meeting in Accra.
In 2014 alone, the volume of trade between Switzerland and Ghana hit $1.8 billion and has since been rising every year.
Within the same period, Ghana imported $14.8 billion, making it the 87th largest importer in the world.
Over the last five years, the imports of Ghana have increased at an
annualized rate of 13.7 per cent from $7.8 billion in 2009 to $14.8
billion in 2014.
The most recent imports are led by refined petroleum which represents
14.7 per cent of the total imports of Ghana, followed by crude
petroleum, which accounts for 3.68 per cent.
Ghana as trade partner
According to Mr. Fischer, Swiss continued to see Ghana as its major
trade partner, adding “Ghana is the third most important producer of
gold for Switzerland, with Peru and Uzbekistan being first and second
He added that Ghana also continued to remain the major supplier of cocoa and other cashew crops for Switzerland.
“Switzerland also exports finished products such as pharmaceutical
products, tools and equipment and vehicles to Ghana,” he said.
Mr. Fischer admitted that there was a large trade imbalance between the
two countries, but indicated that it was the responsibility of both
governments to address the issue.
As part of the Swiss government’s plans to reduce the gap, he said a
total amount of $74 million has been earmarked for development projects
in Ghana for 2017 alone.
He said the government planned to assist Ghana in the areas of public health, public financing, infrastructure, and education.
In an address, the Customer Relations Executive of the RMAS, an
insurance brokerage company, Mr. Hughes Razak Dakpo, advised business
owners and directors to take advantage of the many benefits offered by
He said it was important for business executives and directors to be
abreast of the insurance policies in the country in order to serve their
customers and employees well.
For his part, the Chairman of the SGCC, Dr. Nortey K. Omaboe, said the
chamber was established to promote and interests of Ghanaian and Swiss
businesses in the country.
He underscored the importance of the existence of chamber of commerces
in the country, noting that their recent increase is an indication that
they are important to the promotion of export and import businesses.