Ghana 2025 trade surplus triples on gold

In 2025, Ghana's international merchandise trade surplus more than tripled to GH¢148.3 billion (US$11.5 billion) from GH¢44.7 billion in 2024, according to the Ghana — Ghana Statistical Service's 2025 Annual International Merchandise Trade Statistics Report. Total trade rose 20.1% to GH¢654.7 billion, with exports of GH¢401.5 billion outpacing imports of GH¢253.2 billion. Gold remained the dominant export, generating GH¢252.4 billion and accounting for nearly 63% of export earnings, while cocoa products and mineral fuels contributed GH¢56.2 billion and GH¢35.3 billion respectively, together making up about 86% of exports. Exports exceeded imports every month, with December recording the highest activity. Asia remained Ghana's largest trading region, led by the United Arab Emirates, India, and China, while Europe's share declined. Within Africa, Ghana posted a GH¢34.7 billion surplus, with South Africa as the leading export destination and Nigeria the largest source of imports. China remained the top import source. Food exports rose while food imports fell slightly. However, after adjusting for inflation and price changes, Ghana recorded a real trade deficit of GH¢3.4 billion, indicating that much of the export growth was driven by higher global commodity prices, particularly gold. Government Statistician Alhassan Iddrisu urged export diversification and value addition, highlighting opportunities under the African Continental Free Trade Area.