• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Gross Reserves: Ghana’s imports cover decline from 4.3 months to 2.9 months

3 years ago
in Economy, Features, highlights, Home, home-news, latest News, Markets, Trade
1 min read
0 0
0
145
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Gross Reserves: Ghana’s imports cover decline from 4.3 months to 2.9 months

Ghana’s imports cover has declined from 4.3 months to 2.9 months according to recent data provided by the Central Bank.

The decline in imports cover, the Central Bank, has attributed to the decline in the country’s gross international reserves by some $3.1bn.

According to the Central Bank, the country’s stock of Gross International Reserves declined to $6.6 billion, equivalent to 2.9 months of import cover for goods and services in September 2022.

This compares with the December 2021 position of $9.7 billion, equivalent to 4.3 months of import cover.

The Net International Reserves, which excludes encumbered assets and petroleum funds, the Bank noted, is estimated at $2.7 billion as at September 2022.

The decline in the country’s gross reserves is despite the $1.7bn trade surplus recorded in August 2022.

RelatedPosts

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

The trade surplus exceeded the $892.4m trade surplus recorded same period last year – August 2021.

According to the BoG, increment in the trade surplus was driven by higher receipts from gold, crude oil and non-traditional exports, notwithstanding increased
demand for oil and gas imports.

Total exports went up by 19.5 percent year-on-year to $11.8 billion. Crude oil exports totalled $3.8 billion, 56.5 percent higher than observed in 2021, mainly due to price effects.

Gold export earnings also went up by 23.9 percent to $4.2 billion, supported by increased production volumes triggered by the positive response from small scale gold exporters to the downward revision of the withholding tax regime from 3 percent to 1.5 percent.

However, on account of lower prices and low cocoa purchases, cocoa receipts declined by 22.8 percent to $1.7 billion from $2.1 billion.

Total merchandise imports grew by 12.9 percent on a year-on-year basis to $10.2 billion, mainly driven by higher oil and gas import bill of $3.1 billion at end-August 2022, relative to $1.7 billion in the same period of 2021. Non-oil imports, however, dipped by 3.8 percent year-on-year to $7.1 billion in the review period.

Source: norvanreports
Tags: Bank of Ghana (BoG)Gross Reserves: Ghana's imports cover decline from 4.3 months to 2.9 months
No Result
View All Result

Highlights

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

The Rise of Women-Tailored Insurance Policies in Africa

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Trending

Energy

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

August 26, 2025

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to...

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

August 26, 2025

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

August 26, 2025

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

August 26, 2025

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.