Ghana spent GHS 51.7 billion on diesel and petrol imports in 2025. These two commodities were the country's largest imported goods, according to new data from the Ghana Statistical Service (GSS).
This substantial expenditure highlights Ghana's deep reliance on imported petroleum products. The GSS's 2025 Annual International Merchandise Trade Statistics Report shows that diesel imported for the Tema Oil Refinery (TOR) alone cost GHS 28.46 billion. This figure represented 11.2 percent of Ghana's total import bill. Light oils, including motor spirit (super), followed with imports valued at GHS 23.24 billion, accounting for 9.2 percent of total imports. Combined, these fuel imports exceeded 20 percent of Ghana's total imports in 2025, which reached GHS 253.23 billion.
This heavy reliance on imported fuels places significant strain on Ghana's foreign exchange reserves. It also negatively impacts the country's external trade balance. The consistent high demand for imported energy products complicates efforts to stabilize the cedi and improve the national economy. Ghana has been working to strengthen its domestic refining capacity, but the 2025 figures show these efforts have not yet significantly reduced import dependency.
The Ghana Statistical Service report reinforces the strategic importance of expanding domestic petroleum refining. Reducing reliance on imported fuel is crucial for easing pressure on Ghana’s foreign exchange reserves. It will also improve the country’s overall trade position. The data points to persistent structural challenges in Ghana's economy, particularly its dependence on imported refined petroleum products.
Beyond petroleum, the GSS report identified other major imports. Used vehicles with engine capacities between 1,500cc and 3,000cc ranked as the third-largest import, valued at GHS 9.33 billion. Crude petroleum followed in fourth place at GHS 5.78 billion. Cement clinkers, essential for cement production, completed the top five with imports valued at GHS 4.76 billion. The top ten imported commodities accounted for 34.3 percent of Ghana’s total imports in 2025. This composition reflects the continued dominance of energy, transport equipment, and industrial inputs in Ghana’s external trade.
The implications of this import dependency are far-reaching. High import bills for essential goods like fuel can lead to currency depreciation and inflation. Decision-makers will need to accelerate investments in local refining and import substitution industries. This will help to reduce the country's vulnerability to global oil price fluctuations. The government's focus on industrialization and local production will be critical in the coming years to shift this trend. Markets will closely watch for any policy changes aimed at reducing this significant import burden.