Ghana’s merchandise export earnings hit about $31.1 billion in 2025, up from $19.1 billion in 2024, the Bank of Ghana says. Gold brought in about $20 billion. That is roughly two-thirds of the export basket and nearly double the $10.3 billion earned from gold in 2024.
The same BoG Summary of Economic and Financial Data, released on 27 January 2026, puts cocoa receipts at $3.8 billion, oil at $2.6 billion, and other exports at $3.6 billion. Gold’s jump of about 103% drove a 62% rise in total exports and a trade surplus of about $13.6 billion to $13.7 billion.
Artisanal and small-scale gold was a large slice of that metal flow. The IMF says the Domestic Gold Purchase Programme channelled about $10.9 billion of artisanal gold exports in 2025, or about 9.5% of GDP. Deputy Finance Minister Thomas Nyarko Ampem told Parliament that GoldBod purchased and exported 104 tonnes of ASM gold in 2025, generating more than $10 billion.
Gross international reserves rose to a record about $13.8 billion by end-2025 as the stronger trade account rebuilt external buffers.