Ghana’s international trade surplus more than tripled in 2025, reaching GHS148.3 billion. This significant increase was driven by record gold earnings and strong cocoa and petroleum exports, as reported by the Ghana Statistical Service (GSS).
The 2025 Annual International Merchandise Trade Statistics Report revealed that total trade grew by 20.1%. It increased from GHS545.1 billion in 2024 to GHS654.7 billion in 2025. This reflects a sustained expansion in the country’s external trade activities.
This robust performance positions Ghana favorably within the broader economic landscape. The nation continues to rely heavily on primary commodities for export revenue. The report highlights the need for continued economic diversification efforts to build resilience against global price fluctuations.
The GSS report, compiled using data from the Customs Division, showed exports reached GHS401.5 billion against imports of GHS253.2 billion. In dollar terms, exports amounted to US$32.0 billion, while imports stood at US$20.5 billion. Ghana expanded its global trading footprint in 2025, importing from 216 countries and exporting to 163 countries.
Gold remained the leading export, generating GHS253.3 billion and accounting for 63.1% of total exports. Cocoa beans and cocoa products recorded GHS92.0 billion in export earnings. Mineral fuels and oils generated GHS56.2 billion. These three commodities collectively accounted for 85.9% of total exports, underscoring Ghana's continued dependence on them.
Asia remained Ghana’s largest trading region, with its share of exports increasing by 11.8 percentage points. The United Arab Emirates, India, and China led this growth. Europe’s share of Ghana’s trade declined, with exports falling by 6.7 percentage points and imports by 4.3 percentage points.
Within Africa, South Africa remained Ghana’s leading export destination, accounting for 58.7% of exports to the continent. Nigeria was the largest source of African imports, contributing 31.9%, mainly petroleum products. Exports to Burkina Faso, Togo, and Côte d’Ivoire exceeded imports from those countries. Burkina Faso alone imported Ghanaian goods worth GHS11.8 billion.
On the import side, fuel products continued to dominate, with diesel and petrol imports exceeding GHS51 billion. China remained Ghana’s largest source of imports, supplying machinery, vehicles, iron and steel, plastics, and chemical products. Food exports increased significantly in 2025, driven by cocoa products, cashew nuts, tuna, and shea products. Food imports declined marginally, reflecting gradual improvements in domestic production and food self-sufficiency.
Dr. Alhassan Iddrisu, the Government Statistician, highlighted a critical nuance. After adjusting for inflation and price effects, Ghana recorded a real trade deficit of GHS3.4 billion. This suggests that higher global commodity prices, particularly for gold, rather than increased trade volumes, accounted for much of the growth in export earnings. Dr. Iddrisu urged the government to diversify the country’s export base. This would reduce dependence on gold, cocoa, and petroleum.
He also called for strengthening local manufacturing and promoting value addition. This would reduce reliance on raw commodity exports. Deepening regional integration under the African Continental Free Trade Area (AfCFTA) is also crucial to expand intra-African trade. Ghana recorded a trade surplus of GHS34.7 billion with Africa in 2025.
Sustaining Ghana’s trade gains will require deliberate investment in productive sectors. Industrial competitiveness and robust statistical systems are also vital. These measures will support the country’s next phase of economic transformation. Decision-makers will need to focus on these areas to ensure long-term stability and growth.