Ghana’s Trade Surplus

02 Dec

Ghana’s Trade Surplus Hits $3.8Bn By October 2024

Wontumi10 CommentsUncategorizedGhana's Trade Surplus

Ghana recorded a remarkable trade surplus of $3.8 billion by the end of October 2024, as reported in the Bank of Ghana’s November 2024 Summary of Economic and Financial Data. This achievement highlights the nation’s resilience in driving export growth despite global economic challenges. The surplus reflects a favourable balance of trade, fueled by strong performances in key export sectors, including gold, cocoa, and oil. Gold exports surged impressively, reaching $9.58 billion in October, up from $8.44 billion in September. Cocoa, a cornerstone of Ghana’s export economy, saw revenues increase from $989 million in September to $1.15 billion in October,…

27 Nov

Ghana’s Trade Surplus Increases By 16 Percent To Hit $2.058Bn

Wontumi1BusinessBoG, Ghana's Trade Surplus

Latest data from the Bank of Ghana (BoG) show that Ghana’s trade balance increased by US$310 million between July and October. This means Ghana’s trade balance grew by about 16 percent from the US$1.75 billion recorded in July 2023. It brings the country’s total trade balance to US$2.058 billion as of October 2023, representing 2.7 percent of Gross Domestic Product (GDP) as captured by the Bank of Ghana’s November 2023 Summary of Economic and Financial Data. The year-on-year interpretation indicates that this new trade balance also represents a 10 percentage points increase from the US$1.85 billion recorded in October 2022.…