Ghana’s trade account reached a record $6.19 billion surplus in August 2025, as exports of key commodities surged past imports, according to data from the Bank of Ghana. This marks one of the strongest performances in the country’s external sector in recent years.
Total exports in August totaled $17.99 billion, the highest monthly figure recorded in the period under review. Gold remained the country’s largest export, generating $11.2 billion, while cocoa and crude oil brought in $2.47 billion and $1.83 billion, respectively.
Other exports, including timber, minerals, and manufactured goods, contributed $2.48 billion, showing that Ghana is gradually diversifying beyond its traditional exports.
Imports rose to $11.80 billion, reflecting growing domestic consumption and industrial needs. Oil imports accounted for $3.73 billion, while non-oil imports, such as machinery, vehicles, electronics, and raw materials, totaled $8.07 billion. Although imports have been steadily increasing, the growth in exports has outpaced imports, lifting the trade surplus to its current high.
The trade surplus now represents 7.1% of Ghana’s GDP, up from 7.0% in July, indicating that the country is earning more from what it sells abroad than it is spending on goods brought in. To put it simply for everyday understanding: for every $10 of goods Ghana sold to other countries in August, it only spent about $6.50 on goods bought from abroad, leaving a positive “profit” that strengthens the economy.
Looking at the trend over 2025, exports have nearly tripled from $7.03 billion in March to $17.99 billion in August, while imports more than tripled from $3.72 billion, showing steady economic activity.
The increase in exports is largely fueled by higher international prices for gold and cocoa, as well as increased oil production. Gold alone accounted for more than 60% of total exports, highlighting its continued importance to Ghana’s external earnings.
Rising imports show that Ghanaians and businesses are buying more goods, from fuel to machinery, to support both daily life and economic growth. Non-oil imports of $8.07 billion in August reflect strong demand for industrial and consumer products, while oil imports of $3.73 billion signal ongoing energy needs.
Overall, the external sector in 2025 demonstrates robust export growth, rising imports to meet domestic demand, and a steadily widening trade surplus.
