Industrial affairs of Ghana since Independence

Sample Term Paper

Words 1,430

Since Independence, Ghana is a less energetic player in International trade than before the Independence. Imports have declined in value by 4% since 1958. An industrial strategy of import substitution, using some of the formerly used exported products has impacted the international trade model of Ghana.The percentage of Ghana international with the industrial nations has declined since the Independence (1958) by a large amount. The industrial countries symbolize a percentage of exports from Ghana decreasing from 88 % to 66% over a 44-year period, specifically a decrease of 25%. The industrial countries represent a percentage of imports by Ghana decreasing from 80% to 56% over a 44-year period, namely a decrease of 30%. The countries subsidies from these changes are the developing nations. Ghana is trading more and more with developing nations, particularly Asian countries. (Milhomme, 2004)

There is a definite trend. Ghana is exporting in steady dollar value less and fewer products toward the U.K, a decrease of exports by 2/3 since the Independence. Imports from the U.K. are steadily decreasing in constant dollars at a rate of about $12 million a year ever since 1952. This leads to a decrease in import share of U.K. products in Ghana by 2.5 folds.

An increase of trade with France an increase by more than 4 folds is new. If one observes the change of trade pattern with a country which was not part of the colonial opposition like Germany, one may conclude that the de-colonization has not led Ghana to increase its exchanges with Germany. Exchanges of Ghana with an unbiased country like Germany have been steady in value the same before and after Independence.

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