Merchandise trade surplus hits GH¢148.3bn

Ghana has experienced a dramatic transformation in its merchandise trade, with the total value soaring to $52.5 billion in 2025 from just $6.0 billion in 2004. This significant growth has propelled the nation from a history of trade deficits to a record surplus of GH¢148.3 billion last year, according to the Ghana Statistical Service (GSS).

The report highlights a substantial shift in trade structure, with exports comprising 61.3 percent of total trade in 2025, a marked increase from 32.1 percent in 2004. Imports, conversely, fell from 67.9 percent to 38.7 percent over the same period. Ghana has recorded trade surpluses in several recent years, with the surplus growing from GH¢5.3 billion in 2023 to GH¢148.3 billion in 2025.

Gold continues to dominate Ghana's exports, its share increasing to 63.1 percent in 2025 from 38.5 percent in 2004. However, there is notable growth in non-traditional exports. Cocoa products, though declining in overall share to 14.0 percent, saw their processed component rise significantly. Edible fruits and nuts also showed strong growth, and plastics emerged as an important export category.

Ghana's trading landscape has also shifted, with Asia now the largest export destination, accounting for 50.1 percent of exports in 2025, a significant rise from 7.9 percent in 2004. Europe's share has consequently decreased. Asia has also become the leading source of imports, increasing its share to 48.4 percent from 26.9 percent in 2004, while Europe's import share declined.

“

Ghana’s merchandise trade has increased sharply from US$6.0 billion in 2004 to US$52.5 billion in 2025, reflecting significant changes in the country’s trade structure and a shift from years of trade deficits to a record trade surplus of GH¢148.3 billion last year.