By: Franklin ASARE-DONKOH
The Director of the Institute of Statistical, Social, and Economic Research (ISSER), Professor Peter Quartey, says the 10% tariffs imposed by the United States on Ghanaian exports should serve as a wake-up call for the country to shift from exporting raw materials to adding value to its products.
On April 2, 2025, the U.S. President announced a series of tariff increases, including a 34% tariff on Chinese imports, a 20% tariff on European Union goods, and a 10% tariff on Ghanaian exports.
According to the White House, the tariffs are part of a broader strategy to counter what the U.S. government considers unfair trade practices. For Ghana, the 10% tariff could pose a significant challenge to trade and economic stability.
Speaking on Citi FM, Prof. Quartey emphasized the need for Ghana to rethink its trade strategy and focus on value addition.
“The shift will be to move from raw export by adding value to our exports. If it is a mango, let’s try to process it into juice. If it is a pineapple, it can also be turned into juice and other things. When you add value, the shelf life of the product will be longer, and therefore you can be in a better position to bargain and get better prices. Also, you look at the alternative market,” he explained on Thursday, April 3, 2025.
Prof. Quartey also stressed the importance of diversifying markets and reducing Ghana’s dependence on raw commodity exports, which he says weakens the country’s position in global trade.
“When you always engage in raw material or commodity export, you don’t have enough power. So, the discussion with all these trade associations should be on how to encourage production so that we then can add value and get more from what we produce and get better prices from what we export,” Prof. Quartey reiterated.
