From 2013 to 2023, Ghana experienced a significant reduction in the share of transport services imports, with fluctuations indicating periods of both decline and recovery. The average Compound Annual Growth Rate (CAGR) over the last 5 years up to 2023 was 1.04%, showcasing a recent uptick compared to the consistent declines seen in years prior. Notable year-on-year variations include a sharp increase of 42.39% in 2022 followed by a decrease of 15.89% in 2023, indicating volatility.
Future trends to watch for include:
- Further declines are forecasted, with a 5-year forecast CAGR of -2.69% until 2028.
- Increasing attention on the factors contributing to the volatility in transport services imports.
- Potential for policy interventions to stabilize or reverse the declining trend.
