Mr Kojo Oppong Nkrumah, Minister of Information, says the foundation for sound policies and decisions lies in quality, timely and robust data for structural economic development.
He said data from the Ghana Statistical Service (GSS) would serve as an analytical truth to help provide and structure governmental projects timely and appropriately.
He said this at the climax celebration of 2023 African Statistics Day on Tuesday in Accra, the celebration was on the theme: ‘Modernizing data ecosystems to accelerate the implementation of the African Continental Free Trade Area (AfCFTA): The role of official statistics and big data in the economic transformation and sustainable development of Africa.’
The Minister said the theme called for modernising data ecosystems in the country for the production and utilisation of high-quality official statistics.
Speaking on the importance of statistics, he encouraged all departments, government, and agencies to increase advocacy for support for major statistical operations
, including censuses and surveys, to provide the needed official statistics to inform decision-making at all levels, and monitor socio-economic development policies and programmes.
He said the availability of data from the GSS ensured effective policy planning implementation, and decision-making, which in turn provided the needed impetus for promoting peace, security, and socioeconomic development.
Mr Nkrumah said trade statistics was important as it provided invaluable insights into the trends, challenges, and opportunities that shaped the landscape of international commerce.
‘As we navigate through the complexities of our interconnected world, the importance of accurate and timely data cannot be overstated’, he added.
He said data was a needed tool for fostering economic development, improving trade policies, and ensuring the well-being of communities engaged in these activities.
Professor Samuel Kobina Annim, the Government Statistician, presenting the Ghana 2023 mid- year trade report, said the count
ry spent about US$2.0 billion to import poultry, rice, sugar, vegetables, and other food products annually, which had placed undue pressure on the cedi.
He said due to global trade disruption since March 2020, the cost of imported food had risen and contributed to the high level of inflation.
Food inflation by mid- 2023 was above 50 per cent largely due to the importation of staple foods such as rice, tomatoes, and onions, which could be produced in adequate quantities locally.
Prof Anim said trade in Africa contributed the most to the trade surplus recorded in the first 2023, and Ghana’s import vulnerability was highest with China, generating high cost of food commodities and products in the country.
However, other dignitaries at the ceremony encouraged all to delve into data analytics to aid in policy and decision making, urging the youth to read statistics as part of their course for career development.
The trade report provides additional insight by assessing change in Ghana’s trade value between the
first two halves of 2022 and 2023, highlighting changes in trade value for
specific commodities across the continents and countries between the first two halves of 2022 and 2023.
Source: Ghana News Agency