Ghana is holding firm on its commitment to ensure a positive trade balance despite recording a very minute improvement in the last month.
The economy has been recording a consistent positive trade balance in recent months, according to the Bank of Ghana’s latest Summary of Financial and Economic Data.
The data shows that Ghana’s trade balance, simply the difference between the country’s total exports and imports, remains in surplus. This means the value of what Ghana sells abroad continues to outweigh what it buys, a crucial marker of external sector stability.
For August 2025, the trade balance stood at US$6.2 billion, slightly up from US$6.1 billion in July. This means the country was able to manage a surplus of about US$50 between July and August despite significant surpluses in previous months.
This translates into a meagre 7.1% of GDP in August, from 7% of GDP in July.
Although the increase may appear modest, the broader picture reflects resilience in Ghana’s export sector, particularly with sustained earnings from gold, cocoa, and oil exports.
Maintaining a positive trade balance is vital for Ghana’s economic health. It strengthens the country’s external buffers, supports the stability of the Ghana cedi, and creates fiscal room for government spending without relying excessively on borrowing.
At a time when debt sustainability remains a national concern, this cushion offers welcome relief.
Economists stress that even small surpluses build investor confidence and enhance Ghana’s creditworthiness. More importantly, they provide breathing space for the Bank of Ghana to manage inflationary pressures and exchange rate volatility.
The challenge, however, many analysts say, is to build on this momentum by diversifying exports beyond raw commodities into higher-value goods and services. Experts warn that overreliance on gold and cocoa exposes the economy to external shocks.
At the moment, Ghana’s ability to keep its trade account in surplus, despite global uncertainties, underscores a steady course towards economic stability.
