The Ghana Statistical Service (GSS) is advising businesses in Ghana to significantly increase their use of locally produced goods and services to build resilience against global economic instability.
Recent data shows a notable drop in inflation for locally made goods, falling from 19.2% in May to 14.0% in June 2025. This outpaced the decline seen in imported goods, which fell from 16.4% to 12.5% during the same period.
In response to these figures, the GSS is encouraging Ghanaian businesses, particularly in the manufacturing, packaging, and logistics sectors, to invest more in domestic sourcing.
The agency explained that reducing dependence on imports could lower operational risks related to currency fluctuations, shipping delays, and external supply shocks.
The GSS further urged companies not to increase prices unnecessarily despite deflation, recommending instead that they adopt strategic pricing models. This, it said, would help maintain consumer trust while preserving business margins during this relatively stable period.
The emphasis on local sourcing is seen as a vital part of Ghana’s broader economic development goals.
It supports job creation, empowers small and medium-sized enterprises (SMEs), and aligns with import substitution strategies that aim to reduce the nation’s reliance on foreign products.
Businesses are being encouraged to evaluate how much of their inputs can be obtained locally without compromising on quality or efficiency.
Strengthening ties with local suppliers may also offer the benefits of shorter delivery times, stable pricing, and more flexible contracts.
This guidance aligns with national programs like the “One District, One Factory” initiative and other government-led efforts to boost industrialization and reduce dependency on imports.
