Ghana’s oil imports reached $3.73 billion in August 2025, reflecting increased domestic energy needs, according to Bank of Ghana data. This marks a significant rise compared with $3.48 billion in September 2024, indicating sustained upward pressure on the country’s energy import bill.
Rising oil imports coincide with higher consumption for transportation, electricity generation, and other energy-related activities. Compared to $1.27 billion in March 2025, imports have nearly tripled over the first eight months of 2025, highlighting persistent demand amid economic activity.
Oil imports have also been increasing steadily year-on-year. In 2024, oil imports rose from $1.18 billion in March to $3.13 billion in August, while in 2025, the same period saw imports jump from $1.27 billion in March to $3.73 billion in August, showing that the pace of growth has accelerated slightly this year.
Non-oil imports, including machinery, industrial inputs, and consumer goods, also rose to $8.07 billion, reflecting continued economic activity and reliance on foreign products.
Higher oil imports increase expenditure abroad but are balanced by strong commodity exports. Gold, cocoa, and crude oil exports contributed significantly to total export earnings, with gold alone reaching $11.2 billion in August 2025, helping Ghana maintain a trade surplus of $6.19 billion.
