Annual report on the Gold Coast / Colonial Office.

  • Colonial Office
Date:
[1951]
Catalogue details

Licence: Public Domain Mark

Credit: Annual report on the Gold Coast / Colonial Office. Source: Wellcome Collection.

    20/130 page 18
    Chapter 5 : Commerce The value of both imports and exports during the year considerably exceeded those of 1950. The volume of supplies was well maintained and trading conditions were generally satisfactory. The prices of imported goods advanced during the year by approximately 15 to 20 per cent but a much greater rise occurred in the prices of home grown foodstuffs which make up the great bulk of the food consumed in the Gold Coast. Considerable developments took place in the timber industry and preliminary investigations into the Volta River Project and the proposed new port at Tema were continued. A detailed examination of limestone deposits in the Western Province was com¬ menced to determine their suitability for local cement manufacture. Exports of cocoa declined in volume by 14 per cent but despite this the higher prices obtained on overseas markets were responsible for an increase of 10 per cent in the value of cocoa exports. Nevertheless, cocoa is still by far the most important export crop and represents two-thirds of total export earnings. Approximately 40 per cent of the cocoa exported was sold to hard currency countries. Exports of gold declined slightly but shipments of diamonds increased by 80 per cent in quantity and by over 200 per cent in value. Exports of man¬ ganese and bauxite expanded and a slight drop in the quantity of timber exported was accompanied by a rise of 28 per cent in value. As a result of the steep rise in the market prices of local foodstuffs the Government Bulk Purchase Department was not required to purchase any considerable quantity of surplus foodstuffs from farmers. The Department undertook the distribution of some 2,000 tons of imported maize and 10,000 tons of imported rice to compensate for the severe shortage in the local maize crop due to attacks of rust disease. The Gold Coast stand at the British Industries Fair was again a centre of interest to visitors and many enquiries were received par¬ ticularly in regard to supplies and varieties of timber available for export. The co-operative consumer organisation has not yet become firmly established, but is nevertheless beginning to be a noteworthy feature of the country’s commercial life. IMPORTS The total value of the import trade amounted to £63,326,092 with an increase of £15,347,189 or 32 per cent over the revised 1950 figures. The tonnage of cargo landed at Gold Coast ports during 1951 showed an increase of 19 per cent over 1950. The actual figures were : 1950 .... 880,698 tons 1951 . . . . 1,047,242 tons Imports of cotton piece-goods during 1951 decreased by T8 per cent
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