{"id":99873,"date":"2025-10-23T10:57:06","date_gmt":"2025-10-23T10:57:06","guid":{"rendered":"https:\/\/sotnews.agency\/?p=99873"},"modified":"2025-10-23T10:57:06","modified_gmt":"2025-10-23T10:57:06","slug":"gss-calls-for-balanced-formalisation-of-informal-trade-to-boost-economic-growth","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=99873","title":{"rendered":"GSS calls for balanced formalisation of informal trade to boost economic growth"},"content":{"rendered":"
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The Ghana Statistical Service (GSS) has emphasised that Ghana\u2019s growing informal cross-border trade sector is more than a collection of figures\u2014it is a reflection of livelihoods, resilience, and interconnected communities that sustain the national economy.<\/p>\n

Following the release of the fourth-quarter 2024 Informal Cross-Border Trade (ICBT) Survey, which valued informal trade at GH\u00a27.4 billion, representing 4.3 percent of Ghana\u2019s total trade, the GSS underscored the social and economic importance of informal trade. <\/p>\n

Read also: Cross-border informal trade in 2024 Q4 estimated at GH\u20b57.4bn \u2013 GSS<\/p>\n

GSS noted that informal trade provides employment, ensures food availability, and strengthens community ties, particularly for border populations that depend on it for survival.<\/p>\n

However, the GSS cautioned that the sector\u2019s rapid expansion also exposes critical weaknesses, including limited infrastructure, weak data systems, and minimal trader protection. <\/p>\n

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.<\/p>\n

From the survey findings, the GSS outlined four policy priorities to guide future interventions:<\/p>\n

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  1. Support and formalise informal traders<\/strong> through registration, simplified compliance processes, and improved access to finance and training.<\/li>\n
  2. Invest in border infrastructure<\/strong>, including roads, posts, and data systems, to make formal trade faster, safer, and more cost-efficient.<\/li>\n
  3. Boost domestic production<\/strong> of goods that are heavily imported informally to reduce external dependence and strengthen local industries.<\/li>\n
  4. Deepen regional cooperation<\/strong> by harmonising customs procedures and sharing cross-border trade data with neighbouring countries.<\/li>\n<\/ol>\n

    The Service noted that these insights should serve as a strategic framework for Ghana\u2019s trade and industrial policy, particularly within the African Continental Free Trade Area (AfCFTA) agenda.<\/p>\n

    \u201cThe figures are not just statistics\u2014they tell a story of livelihoods and resilience,\u201d the GSS stated, reaffirming its commitment to producing high-quality, timely, and policy-relevant data that empowers citizens and informs inclusive development.<\/p>\n<\/div>\n

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    \"GSSThe Ghana Statistical Service (GSS) has emphasised that Ghana\u2019s growing informal cross-border trade sector is more than a collection of figures\u2014it is a reflection of livelihoods, resilience, and interconnected communities that sustain the national economy.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12,2017,11058,1883,10,9,3921],"tags":[],"class_list":["post-99873","post","type-post","status-publish","format-standard","hentry","category-business","category-ghana-statistical-service","category-informal-trade","category-national","category-politics","category-popular","category-trade"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/99873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=99873"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/99873\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}