Fuel imports push Ghana’s trade surplus down by 70%
By Ashiadey Dotse Ghana’s growing dependence on imported fuel has put pressure on the country’s trade position, with fuel and mineral products making up about 30% of total imports in the second quarter of 2026. Data from the Ghana Statistical Service (GSS) show that diesel was the country’s largest single import during the period, costing […]
Ghana's trade surplus has declined by 70.1% to GH¢13.8 billion in the second quarter of 2026, primarily due to a surge in fuel imports, which accounted for nearly 30% of total imports during the period. Diesel and super petrol imports, amounting to GH¢12.2 billion and GH¢8 billion respectively, significantly contributed to this increase.
The Ghana Statistical Service (GSS) attributes this rise to the sharp 54.1% jump in fuel import prices, driven by higher international fuel costs. Despite a 47.5% increase in Ghana's overall import bill, the trade surplus contracted sharply, largely due to the economy's reliance on high export prices, particularly for gold, rather than significant increases in export volumes.
The GSS warns that this vulnerability to global commodity price fluctuations necessitates efforts to diversify exports, enhance local processing, and bolster the implementation of the African Continental Free Trade Area (AfCFTA). It emphasizes the importance of improving transport and border infrastructure, as well as providing better access to financing for exporters, to foster a more resilient trade position.
Brief written by urgent.news from GBC Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
