Ghana recorded a merchandise trade surplus of GHS 148.3 billion in 2025. This marks a substantial increase from previous years, signaling a significant positive shift in the nation's trade balance. The country has moved away from years of trade deficits to achieve this record surplus.
This impressive surplus is largely due to a robust export performance. Exports constituted 61.3 percent of Ghana's total trade in 2025. This compares to imports, which accounted for 38.7 percent of the total trade volume. The Ghana Statistical Service (GSS) highlighted these figures in its recent report on merchandise trade.
This development fits into Ghana's broader economic strategy to boost exports and diversify its economy. The nation's total merchandise trade volume expanded sharply from US$6.0 billion in 2004 to US$52.5 billion in 2025. This growth reflects deliberate efforts to enhance Ghana's global trade footprint. The shift from an import-dominated economy in 2004, where imports were 67.9 percent of trade, is evident.
The Ghana Statistical Service issued a statement confirming these findings. The report detailed major changes in Ghana's merchandise trade over the past two decades. It underscored the significant improvement in the country's export capabilities during this period. The GSS data provides clear evidence of this economic rebalancing.
This sustained trade surplus will likely strengthen Ghana's cedi against major international currencies. It could also improve the country's foreign exchange reserves. Policymakers will monitor these trends closely to ensure continued economic stability and growth. Businesses involved in export sectors stand to benefit from these favorable conditions.
Ghana's trade surplus has grown consistently in recent years. It increased from GHS 5.3 billion in 2023 to GHS 44.7 billion in 2024. The 2025 figure of GHS 148.3 billion represents a substantial acceleration of this positive trend. This indicates strong underlying economic fundamentals.
Gold remains the primary component of Ghana's exports. Its share increased from 38.5 percent in 2004 to 63.1 percent in 2025. However, cocoa beans and cocoa products saw their export share decline from 29.3 percent in 2004 to 14.0 percent in 2025. Mineral fuels and oils also contributed, making up 8.8 percent of exports in 2025.
The report also noted significant growth in non-traditional exports. Cocoa products, for example, increased their share from 9.8 percent in 2004 to 27.0 percent in 2025. Edible fruits and nuts also grew, rising from 6.1 percent to 12.1 percent. Plastics accounted for 8.5 percent of exports in 2025, showing diversification efforts are yielding results.
Asia has emerged as Ghana's largest export destination. It accounted for 50.1 percent of exports in 2025. This is a significant shift from 2004, when Europe dominated with 51.2 percent. Europe's share of Ghana's exports declined to 26.8 percent in 2025. This reorientation of trade partners reflects changing global economic dynamics.
Asia also became Ghana's leading source of imports. Its share increased from 26.9 percent in 2004 to 48.4 percent in 2025. Conversely, Europe's share of imports decreased from 45.9 percent to 24.7 percent over the same period. This indicates a comprehensive rebalancing of Ghana's international trade relationships.
On the import side, mineral fuels and oils saw a substantial increase. They rose from 5.7 percent in 2010 to 25.7 percent in 2025. Vehicles and automotive parts represented 15.4 percent of imports. Machinery and electrical equipment, which were 21.9 percent of imports in 2004, declined to 13.9 percent in 2025. These changes highlight evolving domestic demand and industrial needs.