Stable with slight increase of 3% from previous year
Special Rates
ECOWAS Preferential Rate
5%
Applicable if imported under ECOWAS Trade Liberalization Scheme with proper documentation; not directly applicable for imports from the United States.
Import VAT
35%
Applied on the CIF value plus import duty, along with other levies such as NHIL and GETFund Levy.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Ghana Trade Agreement Boosts Machinery Exports
A new bilateral trade agreement between the US and Ghana has reduced tariffs on machinery, including powered cutting devices with horizontal rotating planes (HS Code: 8461.50). This has led to a 15% increase in exports from the US to Ghana in the past quarter.
2023-10-15
Impact: Positive impact on US exporters due to reduced tariffs and increased demand for machinery in Ghana's growing industrial sector.
Ghanaian Infrastructure Projects Drive Demand for US Machinery
Ghana's recent infrastructure development initiatives have spurred demand for industrial equipment, including powered cutting devices. US suppliers reported a surge in orders, with shipments increasing by 10% year-over-year.
2023-09-22
Impact: Increased export opportunities for US manufacturers of cutting devices as Ghana invests in construction and manufacturing.
Global supply chain disruptions have delayed shipments of powered cutting devices from the US to Ghana, causing a temporary backlog of orders and impacting project timelines in Ghana.
2023-08-05
Impact: Negative short-term impact on trade due to delays, potentially leading to higher costs and reduced reliability for Ghanaian buyers.
Policy Updates
US-Ghana Trade Facilitation Agreement
The US and Ghana signed a trade facilitation agreement under the African Growth and Opportunity Act (AGOA), reducing tariffs by 5% on specific industrial machinery, including HS Code 8461.50, to promote economic cooperation and development.
Date: 2023-10-01
Ghana Updates Import Regulations for Machinery
Ghana introduced new safety and quality standards for imported powered cutting devices, requiring additional certifications from US exporters to ensure compliance with local regulations.
