THE GHAN A C H A MBE R OF M INES 2019 In du s t ry S t a t ist ics Da t a GHA N A C H A M B E R O F M I N E S 20 1 9 FA C T O I D Pa g e 31 yello w m eta l S i m il a rly t h e gro wt h i n sh ipm e n ts o f m a n ga n ese co m bi n ed wi t h a rise in it s tra d ed pr ice to i n cr ea se ex port pr o ce ed s by 3 9 pe r ce n t f rom U S 2 9 7 m il li o n i n 2 0 1 8 to U S 4 1 2 m il li o n i n 2 0 1 9 In spit e o f th e st a g n a ti o n in t h e a ve ra ge pr ice o f ba uxite th e up sw i n g i n s h ip m ent s ra is ed ex port pr o ce ed s f rom U S 2 5 m il li o n i n 2 0 1 8 to U S 3 6 m il li o n in 2 0 1 9 Thi s d e n o tes a 4 2 pe r ce n t ex pa n s io n in re ce ipt s f rom th e ex p o r t o f ba uxite On t h e d o w n si d e re ve n ue f rom t h e ex por t o f d ia m o n d plum m ete d b y 5 6 pe r ce n t Its re d uct io n f ro m U S 1 9 0 m il li o n in 2 0 1 8 to U S 0 8 3 m il li o n in 2 0 1 9 wa s pa rtly d ue to con tra cti o n i n its pr o d ucti o n On a cc o u n t o f t h e h ete ro geneity i n ex port re ce ipt s pe rf o rma n ce th e s h a re s o f th e re spec tive m i n er a ls in t o ta l m in er a l re ve n ue were a lt er ed f rom th eir 2 0 1 8 leve l G o ld re ta i n ed its d o m i n a n ce a s t h e l ea d in g co n tribu to r o f m i n e ra l ex port re ce ipts wi t h a s h a re o f 9 3 pe r ce n t in 2 0 1 9 Thi s wa s re la tiv ely lo wer th a n its co r re spo n d i n g o u tco m e o f 9 4 pe r ce n t in 2 0 1 8 The bulk m in er a l s m a n ga n ese a n d ba uxite im pr o ve d th eir re spec tive con trib uti o n to m i n er a l ex p o rt re ve n ue f rom 5 pe r ce n t in 2 0 1 8 to 6 pe r ce n t i n 2 0 1 9 a n d 0 4 pe r ce n t to 1 pe r ce n t i n t h e sa m e pe rio d C o n ve rs el y th e sh a re o f d ia m o n d i n to t a l mi n er a l e xp o rt re ce ipt s f ell to 0 0 1 pe r ce n t in 2 0 1 9 a s com pa re d to 0 0 3 pe r ce n t in 2 0 1 8 The upturn in m i n er a l re ce ipts ex pa n d ed th e sectors sh a re in gro ss m er c h a n d iz e ex port re ce ipts f rom 3 9 p e r ce n t in 2 0 1 8 to 4 3 p er ce n t in 2 0 1 9 con s o li d a ti n g it s sta tus a s t h e f o re m o st so urc e o f f o re i gn ex cha n ge f ro m ex port e a rnin gs Thi s c o m pa re s f a vo ura bly wi t h th e e q uiva lent o uttur n s o f 2 9 pe r ce n t a n d 1 5 pe r ce n t f o r cr ude o il a n d coc o a re s pe ctive ly i n 2 0 1 9 In 2 0 1 8 c o coa a cc o u n ted f o r 1 4 pe r c ent o f a gg re ga te ex port re c eipts w h il e th a t of cr ude o il wa s 3 1 pe r ce n t The gro w th in re ve n ue f rom th e ex port of m i n er a ls w a s pa rtly r espon si ble f o r im pr o vin g th e cou n try s tra d e ba la n ce Da ta f rom th e B a n k of G h a n a sh o ws t h a t th e co u n try s m er cha n d is e ex port s ex ce ed ed m er cha n d is e i m port s by U S 2 2 8 2 bill io n i n 2 0 1 9 re l a tive to U S 1 7 7 8 bill io n in 2 0 1 8 The 2 8 3 pe r ce n t gro wt h in t h e tra d e ba la n ce wa s th e th ird con secutive yea r th e coun try re cord ed a surplus i n its m er cha n d is e tra d e a cc o un t No tw ith st a n d i n g th e wi d e n in g o f th e d ef icit in th e cur re n t a cc o un t w h ich wa s a ttributa ble to un f a vou ra ble d ev elopm en ts in th e se rv ices a n d in ve st m ent co m p o n e n ts o f th e a cc o un t th e co un tr y en d ed 2 0 1 9 wi th a pos iti ve ba la n c e o f pa ym ents B OP o f U S 1 3 4 1 bill io n a s com pa re d to a d ef icit o f U S 0 6 7 1 bill io n i n 2 0 1 8 The surplus p o s iti o n wa s a con seq uence o f th e e xc ess o f t h e ca pita l a n d f i n a n cia l a cc o u n t o ve r th e cur re n t a cc o u n t