Ghana achieved a record merchandise trade surplus of GHS 148.3 billion in 2025. This significant figure marks a sharp increase from the GHS 44.7 billion surplus recorded in 2024. The development highlights a major transformation in Ghana's trade structure over the past two decades.
The country's total merchandise trade volume expanded from US$6.0 billion in 2004 to US$52.5 billion in 2025. This growth reflects a shift from years of trade deficits to consistent surpluses. Exports now represent 61.3% of total trade in 2025, a substantial rise from 32.1% in 2004. Imports accounted for 38.7% of total trade in 2025, down from 67.9% in 2004.
This improved export performance is crucial for Ghana's economic stability and growth. A trade surplus means the country is earning more from selling goods abroad than it spends on buying goods from other countries. This inflow of foreign currency can strengthen the Ghana cedi and help manage external debt. The trend aligns with the government's efforts to diversify the economy and boost local production for export.
Dr. Alhassan Iddrisu, the Government Statistician, highlighted these findings in a report on Ghana’s merchandise trade performance. The Ghana Statistical Service (GSS) issued the statement, detailing the major changes observed over the past two decades. This official data provides a clear picture of Ghana's evolving position in global trade.
The continued growth in Ghana's trade surplus suggests positive implications for the national economy. It indicates a stronger external sector, which can attract foreign investment and support job creation. Policymakers will likely focus on sustaining this export momentum and further diversifying export products and markets. Businesses should also monitor these trends to identify new opportunities in international trade.
Gold remains the dominant component of Ghana’s exports, with its share increasing from 38.5% in 2004 to 63.1% in 2025. Cocoa beans and cocoa products, traditionally key exports, saw their share decline from 29.3% in 2004 to 14.0% in 2025. However, cocoa products as a non-traditional export category increased their share from 9.8% in 2004 to 27.0% in 2025, showing diversification within the cocoa sector.
Other non-traditional exports also demonstrated significant growth. Edible fruits and nuts increased their share from 6.1% to 12.1% over the same period. Plastics accounted for 8.5% of exports in 2025, indicating emerging export sectors. Mineral fuels and oils contributed 8.8% to exports in 2025.
Asia has become Ghana’s largest export destination, receiving 50.1% of exports in 2025. This marks a significant shift from 2004, when Europe dominated with 51.2% and Asia accounted for only 7.9%. Asia also emerged as Ghana’s leading source of imports, increasing its share from 26.9% in 2004 to 48.4% in 2025. Europe's import share declined from 45.9% to 24.7% during this period.
On the import side, mineral fuels and oils saw a substantial increase from 5.7% in 2010 to 25.7% in 2025. Vehicles and automotive parts constituted 15.4% of imports. Machinery and electrical equipment, which represented 21.9% of imports in 2004, decreased to 13.9% in 2025. These shifts in import composition reflect changes in domestic demand and industrial development.