According to the World Trade Organization (WTO), global trade has been negatively affected by the coronavirus pandemic, as global merchandise trade by volume fell 3% year-on-year in the first quarter of 2020. And Ghana is no exception to the impact this global pandemic is having on economies and the maritime industry in particular.

In Ghana cargo throughput has seen a 44% drop in the first quarter of 2020 compared to the same period in 2019, the import trade volume, according to the Ghana Shippers Authority (GSA), also decreased by 24.5% and exports trade volume fell by 66.1% as compared to 2019 first quarter; as well as total transit and transshipment trade volume dropping by 76.1%.

Throughput of both Tema and Takoradi Ports for the first quarter in 2020 stood at 3.77 million metric tons. Additionally, Tema Port recorded a total of 2.96 million metric tonnes cargo throughput representing 79%; while Takoradi cargo throughput was 804,437 metric tons, representing 21% of the total seaborne trade.

Transshipment imports amounted to 61,568 metric tons, while transshipment exports recorded 17,884 metric tons.

Total transit trade volume fell by 73.77% while total transit volume for the three landlocked countries of Burkina Faso, Mali and Niger amounted to 72,212 metric tons, representing a fall of 73.77% compared to the same period in 2019.

In addition, merchandise trade volume in the first quarter of 2020 also saw a decline from the last quarter of 2019. This downward trend is expected to continue into the latter part of the year 2020.

All these are a clear indication of the impact of the coronavirus pandemic is having on Ghana’s shipping and maritime industry.

Source: BFT news

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