Ghana’s Economy Now Valued at $135.1 Billion in Dollar Terms

Ghana’s Economy Now Valued at $135.1 Billion in Dollar Terms

Ghana’s economy has expanded significantly in nominal terms, reaching a total value of GHS1.4 trillion as of end-March 2025, according to data from the Bank of Ghana.

The new nominal figure represents a GHS224 billion ($21.6 billion) increase from the GHS1.176 trillion ($112.9 billion) recorded at the end of 2024.

In dollar terms, the economy is now valued at approximately $135.1 billion, reflecting a strong quarter-on-quarter expansion.

The surge in value is primarily attributed to a notable uptick in the country’s key commodity exports—gold and cocoa—coupled with the strengthening of the Ghanaian cedi against major international currencies.

Gold exports saw a significant jump from $3.72 billion in March to $5.25 billion in April, representing a 40.8% increase month-on-month.

Cocoa exports also advanced during the same review period, rising from $1.50 billion to $1.84 billion, a growth rate of 22.5%.

Analysts point to robust global demand and favourable international pricing for gold and cocoa as driving forces behind the improved export performance.

The increased output and earnings from these commodities have boosted fiscal revenue and improved the country’s current account outlook.

In addition, the continued appreciation of the Ghanaian cedi has contributed to the upward revision of the economy’s valuation in US dollar terms.

The stronger cedi, market watchers note, enhances Ghana’s purchasing power on the international market and improves investor sentiment.

With the continuous appreciation of the Cedi, the value of the economy in dollar terms is likely to continue rising.