Ghana’s export sector surged in the final quarter of 2025, driving a significant expansion in the country’s trade surplus.
According to the Ghana Statistical Service’s (GSS) latest trade report, exports hit GH₵108.6 billion, outpacing imports of GH₵61.4 billion and yielding a trade surplus of GH₵47.2 billion – a notable jump from GH₵17.5 billion in Q3 2025.
“This represents a substantial increase from the GH₵17.5 billion surplus recorded in Q3 2025,” the report noted. In dollar terms, total trade stood at $15.1 billion, with exports contributing $9.7 billion.
The export drive was largely fueled by commodities, with gold bullion accounting for 66.9% of total exports at GH₵72.7 billion.”Gold bullion was the top export product worth more than seven times the value of the second-highest export,” the report stated.
Cocoa beans and crude petroleum followed as key export earners.
Asia led the charge, absorbing 53.4% of Ghana’s exports, with India and the UAE being top destinations.
However, the export growth was largely price-driven. Adjusted for price changes, Ghana recorded a real trade deficit.
“The growth in total export value is driven primarily by increases in the unit price rather than by higher quantities exported,” the report explained.Ghana’s trade with Africa expanded, with exports to the continent reaching their highest level in Q4 2025.
The report cautioned that Ghana remains vulnerable to external shocks due to its reliance on a narrow range of commodities and limited trading partners, recommending diversification and regional integration efforts.
