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Should Ghana Continue On Its Current Economic Trajectory
Time For Paradigm Shift In Ghana’s Economic Development Listen to article The world does not owe us a living. We cannot live by the begging bowl. Lee Kuan Yew.
According to the World Bank figures in 2018, Ghana generated $2.2 billion from cocoa export, $3.52 billion from Gold export, about $1.0 billion from oil and gas, $3.8 billion from foreign remittances ($4.7 billion when we add those from unofficial sources). This means that remittances alone were more than cocoa, gold and oil and gas and constitute about 70% of all the other three sectors combined.
In 2018, Malaysia received $ 16.1 billion from palm oil export and expects to more than triple it by 2023 from its expanded 6.5 million hectares of palm plantations.