Ghana’s total export earnings rose strongly to $11.1 billion between January and April 2025, supported by surging global gold prices that strengthened the country’s external trade position and boosted international reserves.
According to fresh figures from the Bank of Ghana, export revenue for the period exceeded the $9.2 billion recorded in the corresponding months of 2024 by a wide margin.
The expansion was largely driven by gold, which generated $6.8 billion by April 2025, compared to $5.2 billion a year earlier. This sharp growth reflects the country’s increasing reliance on gold at a time when global investors are shifting toward safe-haven assets amid economic uncertainty and market instability.
The report further confirms Ghana’s status as one of Africa’s top gold producers, showing how rising commodity prices continue to provide some stability to the economy despite ongoing fiscal challenges.
Cocoa exports brought in $1.8 billion over the period, maintaining the same level as the previous year, while crude oil contributed $1.2 billion. Other export categories collectively added a further $1.1 billion.
On the import side, Ghana’s total import expenditure increased to $5.8 billion between January and April 2025, up from $5 billion during the same period in 2024. Petroleum imports alone rose to $2 billion from $1.6 billion, driven by higher global energy costs and stronger domestic demand.
Even with rising import spending, the country still achieved a trade surplus of $5.2 billion, slightly higher than the $5 billion recorded a year earlier.
The data also revealed that Ghana’s international reserves climbed to $14.4 billion in April 2025, compared to $13.8 billion at the end of 2024. In addition, gold reserves increased from 18.6 tonnes to 22.3 tonnes over the same period, further reinforcing the central bank’s external buffer position.