Ghana And Its Trade

Question 0

What Gana trades:

Answer 0

EXPORTS: gold,cocoa and timber ( unprocessed)

IMPORTS: Oil, machinery,tools,vehicles and medical equipment ( manufactured stuff)

Gana also earns money from tourism.

Question 1

A case study of:

Answer 1

• A country that trades with other countries.

Question 2

What problems are there with international trade?

Answer 2

1) Not a member of any trade block - cannot rely on free trade.
2) High EU tariffs on cocoa, to protect EU chocolate makers but stunt Gana’s growth.
3) Food imported from EU undercuts food produced in Ghana
4) Ghana tried to put tariffs on EU food imports but it was against their loan from the world bank.

Question 3

Improvements/successes to Ghana’s trade:

Answer 3

1) In 2007, Ghana signed an ECONOMIC PARTNERSHIP with EU which guarantees zero tariffs on most of its exports to the EU unit
2022.
2) zero tariffs on cocoa products means cocoa farmers now experience free trade.