Ghana achieves GH¢11.5bn trade surplus in Q1 2024

Ghana has achieved a trade surplus of GH¢11.5 billion in Q1 2024, driven by a 20.4% increase in export commodity prices compared to Q1 2023.

The Ghana Statistical Service (GSS) reported that exports totaled GH¢59.5 billion, while imports were GH¢48.1 billion. Gold bullion was the top export, valued at GH¢29.7 billion, followed by crude petroleum at GH¢12.2 billion.

The top five exports—gold, crude petroleum, cocoa beans, cashew nuts, and cocoa paste—comprised 82.6% of all exports.

However, cocoa product exports declined to $592.2 million, prompting calls for measures to address the decline.