Ghana’s economy recorded a GH₵3.9 billion trade surplus in Q3 2024, driven by gold, crude oil, cocoa products, manganese, tuna, and cashew exports
Ghana’s economy is experiencing a boost in export value, with some export products driving significant growth ahead of others, propelling the country toward economic growth.
In the third quarter of 2024, the country recorded a trade surplus of GH₵3.9 billion, marking a major turnaround from a deficit in the previous year. Export earnings totalled GH₵74.8 billion, outpacing imports of GH₵70.9 billion.
- Gold Bullion – GH₵46.5 billion (62% of total exports)
Gold continues to be Ghana’s leading export, contributing over 60% of total export earnings. The country’s gold reserves remain a critical driver of economic activity and foreign exchange inflows.
- Crude Petroleum – GH₵11.6 billion
Crude oil takes the second spot among Ghana’s exports. The sector remains vital for the country’s revenue generation and supports various developmental projects.
- Cocoa Paste – GH₵3.6 billion
Cocoa paste is one of Ghana’s most valuable processed cocoa products, reflecting the potential of agro-processing industries to enhance export earnings.
- Manganese Ores – GH₵3.5 billion
Manganese mining is a key player in Ghana’s export economy, with global demand for the mineral bolstering the country’s trade balance.
- Tuna – GH₵1.5 billion
Ghana’s fisheries sector, particularly tuna exports, continues to play an essential role in the economy, serving international markets.
- Cocoa Beans – GH₵1.4 billion
Cocoa beans, a traditional export, maintain their importance despite a gradual shift toward value-added cocoa products like paste and butter.
- Cocoa Butter – GH₵1.2 billion
Cocoa butter remains a staple in the global confectionery and cosmetics industries, reinforcing the need for value addition in Ghana’s cocoa sector.
- Aluminum – GH₵1 billion
Aluminum exports demonstrate Ghana’s growing presence in global industrial supply chains, showcasing the potential of the country’s non-traditional exports.
- Cashew Nuts – GH₵800 million
Cashew nuts are increasingly becoming a significant export product, with growing international demand providing opportunities for local farmers and exporters.
- Rubber and Articles Thereof – GH₵700 million
