According to the latest data from the Ghana Statistical Service, the country’s total exports for 2024 reached GH₵294.9 billion, surpassing imports of GH₵250.2 billion. This resulted in a trade surplus of GH₵44.7 billion, a substantial increase from the previous year.
Gold was the leading export commodity, accounting for 55.3% of total export revenue, followed by petroleum and oils at 17.8%. Cocoa and cocoa products contributed 8.4% to total exports.
The report also highlights a significant shift in trading patterns, with exports to African countries nearly doubling compared to imports. This reinforces Ghana’s role in intra-African trade under the African Continental Free Trade Area (AfCFTA).
In the fourth quarter of 2024, exports totaled GH₵92.9 billion, while imports amounted to GH₵72.4 billion, resulting in a trade surplus of GH₵20.5 billion. This marks a substantial rise from the GH₵6.1 billion surplus recorded in Q4 2023.
Key export commodities in Q4 2024 included:
– Gold: GH₵49.8 billion (53.6% of total export earnings)
– Crude petroleum: 14.5% of exports
– Cocoa and other cocoa products: 11.9% of exports
Imports remained stable, with mineral fuels and machinery being the top imported goods.
