For the first time in 17 years, Ghana’s ceramic exports recorded a $19.9m surplus in 2023
Key takeaways:
In 2023, Ghana recorded $91.9m in ceramic exports, amassing $19.9m profit, after 17 years of consistent trade losses and heavy dependence on imported ceramic products.
For 17 years, Ghana’s ceramic market was largely import-driven, with local industries struggling to compete against foreign products.
Ghana's ceramic products trade recorded $1.397 billion in trade deficit in almost two decades.
Ghana's ceramic industry has finally moved from dependency to a driver of profit and progress.
After nearly two decades of persistent trade deficits, Ghana’s ceramic industry achieved a major economic milestone in 2023, exporting ceramics worth $91.9 million and securing a profit of $19.9 million. The development marks a remarkable turnaround for a sector that had long been overshadowed by heavy import reliance and uncompetitive local production.
For 17 years, Ghana’s ceramic market was largely import-driven, with local industries struggling to compete against foreign products. Between 2005 and 2019, the country consistently recorded massive trade losses, as annual imports outpaced exports. The 2023 figures signal that reforms are yielding tangible results. Increased access to key raw materials for ceramic production, combined with technological upgrades and local capacity building, has helped to boost output and reduce production costs. Ghana’s improved energy supply and strategic partnerships with investors also contributed to the surge in export competitiveness.
However, sustaining this growth will require continued investment in infrastructure, quality standards, and market diversification to avoid a relapse into past trade imbalances. Still, the 2023 data reflects a new chapter for Ghana’s industrial story, one where ceramics have finally moved from a symbol of dependency to a driver of profit and progress.
For every $1 Ghana earns from pharmaceutical exports, it spends about $22 on imports, underscoring the country’s overwhelming dependence on foreign pharmaceutical products.
Ghana is a net importer of medicine and has been for nearly two decades.
By 2015, Ghana’s pharmaceutical imports reached its peak with $348.12m while exports were $3.10m, meaning imports were nearly 100 times larger.
In 2016, Ghana recorded its highest-ever export performance at $78.33 million, but even then, imports stood at $154.96m, almost two times higher.
Over the past two decades, Egypt exported roughly twice as much ceramic products as it imported, positioning itself as a key player in regional and global ceramic products trade.
In 2012, exports peaked at $488.51 million, more than double imports at $178.23 million, setting a clear demonstration of strong industrial and commodity output.
In 2008, exports soared to $325.86 million, more than doubling imports at $126.21 million.
Between 2017 and 2021, the export sector showed stable performance, averaging $327 million annually.
The year 2021 was a standout, with exports reaching $401.12 million, reflecting a strong rebound that reaffirmed Egypt’s export capacity post-pandemic.
For 17 years, Ghana’s ceramic market was largely import-driven, with local industries struggling to compete against foreign products. Between 2005 and 2019, the country consistently recorded massive trade losses, as annual imports outpaced exports. The 2023 figures signal that reforms are yielding tangible results. Increased access to key raw materials for ceramic production, combined with technological upgrades and local capacity building, has helped to boost output and reduce production costs. Ghana’s improved energy supply and strategic partnerships with investors also contributed to the surge in export competitiveness.
However, sustaining this growth will require continued investment in infrastructure, quality standards, and market diversification to avoid a relapse into past trade imbalances. Still, the 2023 data reflects a new chapter for Ghana’s industrial story, one where ceramics have finally moved from a symbol of dependency to a driver of profit and progress.