Ghana's African Trade Surplus Hits GHS 34.7 Billion

Imports from African nations are growing faster than Ghana's exports, despite a significant trade surplus in 2025.

Ghana achieved a significant GHS 34.7 billion trade surplus with other African nations in 2025. This strong performance confirms Ghana's position as a net exporter within the continent. Commercial exchanges with African countries expanded sharply, reaching a total trade value of GHS 105.9 billion. The Ghana Statistical Service’s (GSS) 2025 Annual International Merchandise Trade Statistics Report reveals that exports to African markets rose to GHS 70.3 billion from GHS 59.5 billion in 2024. However, imports from the continent increased more rapidly, climbing to GHS 35.6 billion from GHS 27.4 billion over the same period. This faster growth in imports, at 29.93% compared to an 18.15% rise in exports, suggests a shift in the trade dynamic. This trend is crucial for Ghana's economic narrative, particularly in the context of the African Continental Free Trade Area (AfCFTA). The expanding trade with African partners underscores the increasing importance of regional markets for Ghana's external trade. While the GHS 34.7 billion surplus in 2025, an 8.10% increase from GHS 32.1 billion in 2024, demonstrates continued strong sales, the narrowing ratio of exports to imports from 2.17 times in 2024 to 1.97 times in 2025 indicates a growing demand for goods from other African countries. The GSS report highlights that Ghana exported goods to 51 African countries in 2025, a slight decrease from 52 in 2024. Conversely, its African import base widened from 51 to 54 countries, showing greater geographical diversification on the import side. South Africa remained Ghana’s primary export destination within Africa, receiving 58.70% of all exports to the continent. Burkina Faso followed with 16.80%, while Togo and Côte d’Ivoire accounted for 5.50% and 5.20% respectively. These four markets collectively absorbed 86.20% of Ghana’s exports to Africa, indicating a high concentration. On the import side, Nigeria was the largest source, accounting for 31.90% of Ghana’s purchases from Africa. South Africa followed at 11.60%, Morocco at 8.30%, and Togo at 7.90%. The composition of trade varied significantly by market. Gold dominated exports to South Africa, making up 95.50% of Ghana’s shipments to that country, valued at approximately GHS 41.3 billion. Exports to Burkina Faso, reaching about GHS 11.8 billion, were more diversified, though gold still represented 47.00% of the total. Ghana’s imports from Nigeria rose to GHS 11.4 billion, with mineral fuels and oils constituting 81.10% of the total. This concentration reflects Ghana’s ongoing reliance on regional petroleum supplies, making its African import bill vulnerable to oil-price fluctuations and energy-market disruptions. Nigeria’s fuel share increased significantly from 23.00% in 2024, marking a rise of 58.10 percentage points. Imports from South Africa amounted to GHS 4.1 billion, while Morocco supplied GHS 3.0 billion. The figures suggest that while Ghana benefits from African demand, particularly for gold and goods destined for neighboring West African markets, the heavy reliance on gold and a limited number of export destinations restricts broader industrial benefits. For the AfCFTA to truly foster economic transformation, Ghana must increase its exports of manufactured goods, processed foods, pharmaceuticals, and other value-added products, moving beyond primary mineral dependence. The GHS 34.7 billion surplus is a vital source of foreign exchange, but the next challenge lies in converting this numerical advantage into diversified production, stronger regional supply chains, and sustainable employment opportunities within Ghana.

Ghana's African Trade Surplus Hits GHS 34.7 Billion

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