Ghana recorded a US$4.3 billion trade surplus in the first quarter of 2026, driven largely by strong gold exports, according to the Ghana Statistical Service (GSS).
Data from the GSS show that Ghana exported goods worth US$10.2 billion, compared with imports of US$5.9 billion during the period.
Government Statistician Dr Alhassan Iddrissu said the figures meant that for every GH¢100 earned from exports, about 58 per cent was spent on imports.
However, he cautioned that the headline surplus was influenced by rising commodity prices. When price effects are excluded, Ghana recorded US$2.6 billion in exports against US$3.2 billion in imports.
Gold remained the country’s largest export, generating US$5.9 billion, while cocoa exports also recorded growth.
Dr Iddrissu warned that Ghana’s export earnings remain heavily dependent on a narrow range of commodities, particularly gold.
He also raised concerns about market concentration, noting that India and Switzerland together accounted for more than a third of Ghana’s exports during the quarter.
