{
  "id": 11219935,
  "title": "Ghana’s trade surplus shrinks by 70% to US$1.3bn in quarter 2, 2026 – GSS",
  "url": "https://urgent.news/2026/10/01/ghanas-trade-surplus-shrinks-by-70-to-us-1-3bn-in-quarter-2-2026-gss-11219935",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T15:04:05.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/ghanas-trade-surplus-shrinks-by-70-to-us1-3bn-in-quarter-2-2026-gss/"
  },
  "original_language": "en",
  "account": "Ghana's trade surplus contracted by a staggering 70% during the second quarter of 2026, plummeting to US$1.3 billion, according to figures released by the Ghana Statistical Services. This marked a sharp contrast to the US$4.3 billion surplus recorded in the previous quarter. The decline was primarily due to a surge in imports, which increased by 47.5%, while exports only rose marginally by 1.6%. The total value of exports reached GH₵108.5 billion (US$9.6 billion), while imports amounted to GH₵94.7 billion (US$8.3 billion), resulting in a total trade volume of US$17.9 billion.\n\nThe surplus was largely driven by strong gold prices, with the precious metal accounting for 72.3% of all exports, amounting to GH₵78.4 billion (US$6.9 billion). Crude petroleum followed as the second-largest export commodity, contributing 10.7% of total exports, or GH₵11.6 billion (US$1.0 billion). The significant disparity between export and import prices played a crucial role in the narrowing surplus. Import prices surged at a rate five times higher than export prices, with fuel prices increasing by 54.1% in the second quarter compared to the previous one.\n\nChina remained Ghana's largest import source, accounting for GH₵20.4 billion (21.5% of imports), down from 29.7% in the prior quarter. South Africa emerged as the second-largest import source, purchasing GH₵11.8 billion (12.5% of imports). The UAE became the top destination for Ghana's exports, acquiring GH₵32.7 billion (30.2% of total exports), more than double its purchases in the previous quarter. The UAE and India collectively accounted for 46.4% of Ghana's exports, highlighting their growing importance in the country's export market.",
  "summary": "According to the GSS, exports barely increased as it went down by 1.6%, while imports jumped by 47.5%. Therefore, the smaller surplus came almost entirely from buying more.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Ghana’s trade surplus shrinks by 70% to US$1.3bn in quarter 2, 2026 – GSS",
        "url": "https://urgent.news/2026/10/01/ghanas-trade-surplus-shrinks-by-70-to-us-1-3bn-in-quarter-2-2026-gss",
        "published": "2026-10-01T15:04:05.000Z"
      },
      {
        "outlet": "Adom Online",
        "title": "Ghana’s trade surplus drops 70% to US$1.3bn in second quarter of 2026 as imports surge",
        "url": "https://urgent.news/2026/10/01/ghanas-trade-surplus-drops-70-to-us-1-3bn-in-second-quarter-of-2026",
        "published": "2026-10-01T16:07:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}