• Trade surplus jumped 169.7% in Q4 2025 to $4.2 billion

• Exports driven by gold, cocoa, and oil

• India and the UAE led as top export markets

Ghana recorded a trade surplus of 47.2 billion cedis, or $4.2 billion, in the fourth quarter of 2025, according to a report published April 8 by the Ghana Statistical Service.

The figure marks a sharp increase of 169.7% from the 17.5 billion cedi surplus recorded in the third quarter.

During the period, exports totaled 108.6 billion cedis, while imports stood at 61.4 billion cedis.

Gold bullion, cocoa beans, crude oil, cocoa paste, and shea nuts were among the country’s main export products. On the import side, purchases were dominated by diesel, mineral fuels and oils, as well as vehicles and automotive parts.

India and the United Arab Emirates were the top export destinations, accounting for nearly half of export revenues at 47.8%. They were followed by South Africa, Switzerland, and the Netherlands.

China remained Ghana’s largest supplier, with imports valued at 14.3 billion cedis, or 23.3% of the total. Other key suppliers included the United States, the Netherlands, Belgium, and Nigeria.

Trade with African countries was also significant. Exports to the continent were led by gold, followed by manufactured goods such as plastic household items, crude oil, iron and steel bars, and plastic films.

South Africa was the main destination within Africa, accounting for 63.8% of exports to the region. Other major markets included Burkina Faso, Nigeria, Côte d’Ivoire, and Togo.

Imports from African countries consisted mainly of mineral fuels and iron and steel products. Nigeria, Morocco, Côte d’Ivoire, and the Central African Republic were the leading suppliers.

The strong trade performance comes amid broader economic momentum. Ghana’s real GDP grew by 6% in 2025, the fastest pace since 2019. According to lawmaker Michael Okyere Baafi, improvements in trade performance between 2016 and 2024 were driven by policy reforms, export diversification, and increased investment in key sectors.

Total trade reached 170.1 billion cedis, or $15.1 billion, during the fourth quarter of 2025.

Lydie Mobio