Ghana’s merchandise trade expanded nearly ninefold from $6bn (£4.6bn) in 2004 to $52.5bn in 2025, according to a landmark review by the Ghana Statistical Service (GSS).
The 21-year assessment, titled Ghana’s Merchandise Trade Statistics, 2004–2025: Two Decades in Review, tracks the West African nation’s transition from sustained trade deficits to recurring surpluses in 2011, 2014, 2018, 2019, 2023, 2024, and 2025. The trade surplus broadened from GH¢5.3bn in 2023 to GH¢44.7bn in 2024, before climbing dramatically to GH¢148.3bn in 2025.
Gold has cemented its status as Ghana’s top export, growing its market share from 38.5 per cent in 2004 to 63.1 per cent in 2025. By contrast, cocoa beans and raw cocoa products dropped from 29.3 per cent of exports in 2004 to 14 per cent in 2025, while mineral fuels and oils accounted for 8.8 per cent.
Among non-traditional exports, processed cocoa products rose from 9.8 per cent in 2004 to 27 per cent in 2025, edible fruits and nuts surged from 6.1 per cent to 12.1 per cent, and plastics reached 8.5 per cent.
The statistics reflect a fundamental pivot towards Asian trade networks. Asia received 50.1 per cent of Ghana’s exports in 2025—up from just 7.9 per cent in 2004—while Europe’s export share plummeted from 51.2 per cent to 26.8 per cent. Asia also became Ghana’s main import origin, increasing its share from 26.9 per cent to 48.4 per cent over the two decades, as Europe’s import share shrank from 45.9 per cent to 24.7 per cent.
In terms of total imports for 2025, mineral fuels and oils led at 25.7 per cent, followed by vehicles and automotive parts at 15.4 per cent, and machinery and electrical equipment at 13.9 per cent.
The GSS highlighted that these trends underscore urgent opportunities to boost domestic value addition, ramp up local production, and improve trade facilitation. In its recommendations, the statistical authority called for increased processing within the gold and cocoa sectors, the expansion of non-traditional exports, and greater support for small and medium-sized enterprises (SMEs) targeting foreign markets.
It further stressed the strategic importance of aligning Ghanaian goods with international quality standards to capitalise on expanding Asian markets.
Compiled using customs data from the Ghana Revenue Authority’s Integrated Customs Management System (ICUMS) under UN International Merchandise Trade Statistics standards, the report aims to guide national policy formulation, commercial strategy, academic research, and public comprehension of Ghana’s evolving economic trajectory.
By: Rainbowradioonline.com/Ghana
