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Ghana Records $5.57bn Trade Surplus in H1 2025, Up 307% YoY

3 months ago
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Ghana Records $5.57bn Trade Surplus in H1 2025, Up 307% YoY

Ghana recorded a significant trade surplus of US$5.57 billion in the first half of 2025, marking a 307.4% increase compared to the US$1.367 billion registered in the same period last year.

The surplus, driven largely by robust export performance—particularly in gold and cocoa—comes amid a relatively stable import bill.

According to data published by the Bank of Ghana, total exports for the period amounted to US$13.79 billion, far exceeding imports which stood at US$8.225 billion by end-June 2025.

Gold exports dominated the earnings, contributing US$8.38 billion on the back of elevated global gold prices during the review period. Cocoa exports followed with proceeds of US$2.167 billion, while crude oil exports accounted for US$1.364 billion. Non-traditional exports made up the remaining US$1.87 billion.

On the external sector front, Ghana’s gross international reserves stood at US$11.12 billion as of end-June 2025, providing approximately 4.8 months of import cover. Net international reserves were recorded at US$8.88 billion.

The current account balance was in surplus at US$3.34 billion, reflecting the strength in the trade balance. The financial account, which captures capital inflows and outflows, recorded a surplus of US$1.596 billion.

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The strong external position is expected to ease pressures on the local currency and support Ghana’s ongoing macroeconomic stabilisation efforts.

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