The Ghana Statistical Service (GSS) has emphasised that Ghana’s growing informal cross-border trade sector is more than a collection of figures—it is a reflection of livelihoods, resilience, and interconnected communities that sustain the national economy.
Following the release of the fourth-quarter 2024 Informal Cross-Border Trade (ICBT) Survey, which valued informal trade at GH¢7.4 billion, representing 4.3 percent of Ghana’s total trade, the GSS underscored the social and economic importance of informal trade.
Read also: Cross-border informal trade in 2024 Q4 estimated at GH₵7.4bn – GSS
GSS noted that informal trade provides employment, ensures food availability, and strengthens community ties, particularly for border populations that depend on it for survival.
However, the GSS cautioned that the sector’s rapid expansion also exposes critical weaknesses, including limited infrastructure, weak data systems, and minimal trader protection.
According to the Service, the key policy challenge is not whether to formalise informal trade, but rather how to do so without undermining its socio-economic benefits.
From the survey findings, the GSS outlined four policy priorities to guide future interventions:
- Support and formalise informal traders through registration, simplified compliance processes, and improved access to finance and training.
- Invest in border infrastructure, including roads, posts, and data systems, to make formal trade faster, safer, and more cost-efficient.
- Boost domestic production of goods that are heavily imported informally to reduce external dependence and strengthen local industries.
- Deepen regional cooperation by harmonising customs procedures and sharing cross-border trade data with neighbouring countries.
The Service noted that these insights should serve as a strategic framework for Ghana’s trade and industrial policy, particularly within the African Continental Free Trade Area (AfCFTA) agenda.
“The figures are not just statistics—they tell a story of livelihoods and resilience,” the GSS stated, reaffirming its commitment to producing high-quality, timely, and policy-relevant data that empowers citizens and informs inclusive development.
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Source: myjoyonline.com
