Ghana’s non-oil imports surged sharply in the first half of 2025, rising 129 percent between March and June, according to new figures from the Bank of Ghana.
The data shows non-oil imports climbing from US $2.46 billion in March to US $5.64 billion in June, a gain of US $3.18 billion in just three months. The steady monthly build-up, US $3.45 billion in April, US $4.57 billion in May, before peaking at US $5.64 billion in June, marks one of the sharpest short-term increases in recent years.
But the story stretches further back. Non-oil imports had hit a high of US $10.7 billion in December 2024, before easing dramatically at the start of 2025. By March, the figure had dropped to US $2.46 billion, less than a quarter of the December level, before beginning its climb again through the second quarter of the year.
The latest surge reflects demand for a broad range of goods, likely including machinery, industrial inputs, vehicles, food products and household items, as businesses restock and the economy picks up pace.
Oil imports, by comparison, grew at a slower pace. The Bank of Ghana figures show oil imports moved from US $1.27 billion in March to US $2.59 billion in June. That steadier rise means non-oil goods are now the main force behind Ghana’s import bill, overtaking oil’s role as the traditional driver.
Month by month, the increases might have seemed modest. But the reversal from an early-year dip to a strong mid-year surge underlines a reality that hasn’t changed. Ghana’s economy still relies heavily on non-oil imports to keep production lines running and shop shelves stocked.
