Ghana’s merchandise trade increases to US$52.5bn in 2025 from US$6bn in 2004

Ghana's merchandise trade has soared from US$6 billion in 2004 to US$52.5 billion in 2025, according to the Ghana Statistical Service's (GSS) latest report, "Ghana’s Merchandise Trade Statistics, 2004–2025: Two Decades in Review." The 21-year review highlights a dramatic shift from recurring trade deficits to significant surplus years. Ghana has experienced trade surpluses from 2011, 2014, 2018, 2019, 2023, 2024, and especially in 2025.

The report reveals gold's growing dominance in Ghana's exports, climbing from 38.5% in 2004 to 63.1% in 2025, overtaking once-traditional leaders like cocoa beans. Cocoa beans' share of exports dropped from 29.3% in 2004 to 14% in 2025, while mineral fuels and oils now account for 8.8% of exports. Despite this, cocoa products have seen a resurgence, increasing their share from 9.8% in 2004 to 27% in 2025.

Asia has become Ghana's biggest trading partner, accounting for 50.1% of exports in 2025, up from just 7.9% in 2004. The report notes a corresponding decline in Europe's share of exports, falling from 51.2% to 26.8%. Similarly, Asia has emerged as the largest source of Ghana's imports, with its share rising to 48.4% in 2025 from 26.9% in 2004. Europe's share of imports has decreased to 24.7%.

In terms of imports, mineral fuels and oils lead at 25.7%, followed by vehicles and automotive parts at 15.4%, and machinery and electrical equipment at 13.9%. The GSS emphasizes the need for greater value addition in Ghana's gold and cocoa sectors, expansion of non-traditional exports, and support for small and medium-sized enterprises seeking to enter export markets. The report also underscores the growing significance of Asian markets and calls for Ghanaian businesses to meet international market standards.