Like many other Sub-Saharan African countries, Ghana implemented an orthodox Structural Adjustment Programme (SAP), to resuscitate its ailing economy, in the early 1980s. Subsequently, there has been a dramatic expansion in the production and export of processed wood. Based on an empirical study of Ghana's formal wood processing industry, this paper discusses the various determinants that have combined to boost the export-oriented output in the industry, particularly in the first decade of the programme, and assesses the extent to which the SAP-based policy actions account for the change. The study concludes that adjustment played a major role in the change, and suggests that even though SAP supporters and critics disagree on the nature, dynamics and effects of the programme, government measures under the programme are an indicator of what real commitment on the part of African governments can do to engender production expansion in comparable African manufacturing industries.