Ghana’s merchandise exports have overtaken imports, marking a significant shift from nearly two decades of persistent trade imbalances, the Ghana Statistical Service (GSS) has reported.
The development was contained in the GSS report, Ghana’s Merchandise Trade Statistics 2004-2025: Two Decades in Review, which examined the country’s merchandise trade performance over the 21-year period.
According to the report, exports accounted for 61.3 percent of Ghana’s total merchandise trade in 2025, up from 32.1 percent in 2004.
Imports, which represented 67.9 percent of total trade in 2004, declined to 38.7 percent in 2025.
The shift represents a major transformation in Ghana’s trade structure, which was largely characterised by persistent trade deficits during most of the review period.
Dr Alhassan Iddrisu, Government Statistician, said Ghana recorded a trade surplus in only seven of the 21 years under review.
He said a major turning point occurred in 2023 when the country returned to a trade surplus, which had since continued to expand.
The report showed that Ghana’s trade surplus increased from GH¢5.3 billion in 2023 to GH¢44.7 billion in 2024 before reaching a record GH¢148.3 billion in 2025.
In dollar terms, merchandise exports increased substantially from US$1.93 billion in 2004 to US$32 billion in 2025.
Imports also increased over the period, but at a slower pace, rising from US$4.09 billion in 2004 to US$20.5 billion in 2025.
Total merchandise trade consequently expanded from US$6 billion in 2004 to US$52.5 billion in 2025.
Dr Iddrisu said the improvement in the trade balance had strengthened Ghana’s position in international trade and contributed to increased foreign exchange earnings.
He, however, cautioned that sustaining the gains would require deliberate efforts to diversify the country’s export base and increase value addition to locally produced commodities.
The report identified gold as Ghana’s dominant export commodity, accounting for 63.1 percent of total merchandise exports in 2025.
It recommended increased investment in processing industries, stronger support for non-traditional exports and measures to enhance the participation of small and medium-sized enterprises (SMEs) in international markets.
The report noted that such measures would help reduce the country’s dependence on a few commodities and strengthen the resilience and competitiveness of Ghana’s export sector.
