Ghana recorded a strong improvement in its external sector in 2025, with export earnings rising sharply to US$31.1 billion from US$19.1 billion in 2024, according to the Bank of Ghana’s Summary of Economic and Financial Data released on January 27, 2026.
The impressive growth was largely driven by gold exports, which almost doubled to US$20.0 billion from US$10.3 billion the previous year, making gold the main contributor to the expansion in merchandise exports.
Cocoa exports also recovered strongly, bringing in US$3.8 billion in 2025 compared to US$1.9 billion in 2024, despite lower global cocoa prices. However, oil export revenues declined to US$2.6 billion from US$3.8 billion due to weaker crude oil prices. Other exports accounted for US$3.6 billion.
On the import side, Ghana’s total import bill rose to US$17.4 billion. Oil imports increased to US$5.1 billion, while non-oil imports climbed to US$12.3 billion. The strong growth in exports relative to imports resulted in a trade surplus of US$13.6 billion.
This strong trade performance significantly improved Ghana’s external position. Gross international reserves rose to a record US$13.8 billion in 2025, while the current account balance improved to over US$9.0 billion, up from US$1.5 billion a year earlier.
The Bank of Ghana attributed the improvement mainly to the sharp rise in exports, particularly gold, which increased by over 100 percent. The data also indicate that Ghana’s economy, in nominal terms, is valued at about US$1.4 trillion, reflecting the country’s growing economic scale.
Source: cititnews
