According to the Ghana Export Promotion Authority (GEPA), low-cost and high-volume apparel exports from China and other Asian countries continue to outnumber Ghanaian exports in the global market, which recently stated that inadequate promotion of Ghanaian textiles and Afro-centric fashion in mainstream apparel channels abroad remains a bane for the sector.
Ghana’s non-traditional export business employs about 6,000 Ghanaians and yearly exports more than $30 million. According to the country’s administration, its export earnings for 2021 is expected to exceed $52 million by December. In comparison, China shipped $137.4 billion in clothing and accessories to the United States last year.
GEPA is examining the financial conditions of current clothing firms in order to roll out a finance package to meet the industry’s funding needs. The authority also stated that it will give significant capacity building and financing assistance to members of the Ghana Association of Apparel Manufacturers in order for them to become a self-sustaining national industry. Under the African Growth Opportunity Act, there are around 14 indigenous clothing firms that primarily export to the United States (AGOA).
- In-Depth Analysis2021.12.16Cotton Yarn/Fabric Market Report – 16th December, 2021
- Industry And Cluster2021.12.16CITI Elects New Office-Bearers for the year 2021-22
- News & Insights2021.12.16Global Smart Textiles Market Estimated to be Valued at US$ 6.6 Billion by 2026 | MarketsandMarkets™ Study
- Articles2021.12.16Can Waste Wool Replace Bubble Wrap?