The Minister for Lands and Natural Resources who double as MP for Damango, Samuel Abu Jinapoh, has told Parliament that the timber industry in Ghana has contributed a lot to Ghana’s economy.
He explained that the timber industry, specifically, contributes significantly to both the domestic and international markets.
Between 2019 and 2020, for example, a total of Five Hundred and Twenty-Six Thousand, Six Hundred and Thirteen point Two Nine cubic metres (526,613.29m3) of timber, worth over Two Hundred and Sixty-Six Million Euros €266,000,000.00) was exported from Ghana, while the domestic market accounted for Six Hundred and Seventy-Eight Thousand, four Hundred and Six point nine cubic metres (678,406.90m}), within the same time frame.
The Minister said as of October 2021, Two Hundred and Forty-Eight Thousand, Six Hundred and Fifty-Seven point nine zero nine cubic metres (248,657.909m3) of timber, worth over One Hundred and Thirteen Million Euros (€113,000,000.00) had been exported, with domestic trade in the wood species being Three Hundred and Ninety-Two Thousand, One Hundred and Seventeen point Seven Five cubic metres (392,117.75m?).
Mr. Jinapoh concluded by saying, the huge volumes of timber exports were a result of value-added over the years and the number of large-scale timber processing companies dropped from sixty (60) in the year 2000 to ten (10) in 2010, and has remained the same till date. But there are enormous opportunities for investment in value-addition in the timber industry, including furniture manufacturing, molding, doors, parquet flooring, and other related tertiary products for both the domestic and export markets.
He used the opportunity to explain their latest digitalized property market online registering and renewal process to enable businesses to register and renew their property marks online and the electronic tracking system to track Ghana’s timber right from harvesting to a final disposal.