- Ghana's export revenue reached $4.3 billion in February 2025, up from $2.87 billion in February 2024
- Total imports rose slightly to $2.67 billion in February 2025, compared to $2.5 billion last year
- Gold exports were the largest contributor, totaling $2.3 billion, followed by cocoa at $835 million
Ghana is experiencing a boost in export revenue, with the latest figures from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for March 2025 showing total exports reaching $4.3 billion in February 2025, up from $2.87 billion during the same period last year.
The report also notes a slight increase in total imports, which climbed to $2.67 billion in February 2025, compared to $2.5 billion a year ago.
According to the data, Ghana’s external sector is strengthening, driven by a surge in gold and cocoa exports. Total exports increased by 49.9% year-on-year in the first two months of 2025, with gold rising by 63% and cocoa soaring by 126%, indicating a strong recovery in the cocoa sector.
These gains have enhanced external liquidity, with Gross International Reserves (GIR) reaching $9.4 billion by February, enough to cover 4.2 months of imports, up from 4.0 months at the end of 2024. The trade balance also showed improvement, with a trade surplus of $1.6 billion, or 1.9% of GDP, compared to $386.9 million (0.5% of GDP) in February 2024.
Export performance breakdown reveals that gold was the leading contributor, bringing in $2.3 billion, followed by cocoa exports at $835 million.
Crude oil exports, however, showed a decline, totaling $581 million, down from $620 million in the previous year.
Analysts credit gold’s strong performance to rising prices and increased demand for safe-haven assets. Meanwhile, the cocoa sector’s recovery is fostering optimism, although long-term challenges remain due to unfavorable weather conditions and the impact of swollen shoot disease on production.
