Ghana’s trade surplus widened to US$5.28 billion in April 2026 as export growth continued to outpace imports, according to latest data from the Bank of Ghana.
Total exports increased to US$11.15 billion in April 2026 from US$8.50 billion in March 2026, driven largely by higher gold export earnings.
Gold exports rose from US$5.26 billion in March to US$6.86 billion in April, maintaining the commodity’s position as Ghana’s largest source of foreign exchange earnings.
Cocoa exports also increased to US$1.86 billion, while oil exports climbed to US$1.28 billion during the period under review.
On the import side, Ghana’s total import bill rose from US$4.06 billion in March 2026 to US$5.87 billion in April 2026.
Oil imports accounted for a significant share of the increase, rising from US$1.37 billion in March to US$2.01 billion in April.
Despite the rise in imports, export earnings grew faster, resulting in a wider trade surplus of US$5.28 billion in April compared to US$4.44 billion recorded in March 2026.
The trade balance as a percentage of Gross Domestic Product (GDP) also improved from 3.7 percent in March to 4.4 percent in April, reflecting the stronger contribution of net exports to the economy.
The latest figures also showed continued improvement in Ghana’s external sector performance, supported by stronger foreign exchange inflows and rising export earnings.
Gross International Reserves stood at US$13.95 billion in April 2026, slightly lower than the US$14.16 billion recorded in March 2026, but remaining above levels recorded during the same period in 2025.
The Bank of Ghana has maintained that stronger external sector conditions, exchange rate stability and continued fiscal discipline remain important in sustaining macroeconomic stability and supporting the disinflation process.
