Ghana’s export sector experienced remarkable growth in 2024, recording a total export value of GH₵294.9 billion.
- Ghana’s export sector recorded a trade surplus of GH₵44.7 billion in 2024
- Gold bullion was the leading export item, generating GH₵162.99 billion
- Gold, petroleum, and cocoa collectively accounted for 78.2% of Ghana’s total export revenue
This far exceeded the country’s import bill of GH₵250.2 billion, resulting in a trade surplus of GH₵44.7 billion, according to the latest Ghana Statistical Service (GSS) Trade Report.
Gold, Petroleum, and Cocoa dominate exports
The report highlights that gold, petroleum, and cocoa collectively accounted for 78.2% of Ghana’s total export revenue.
Gold bullion maintained its position as Ghana’s leading export, generating GH₵162.99 billion, representing 55.3% of total exports.
Crude petroleum oils ranked second, earning GH₵52.58 billion, which constituted 17.8% of export earnings.
Cocoa products—including cocoa beans, paste, and butter—brought in a combined GH₵21.55 billion, making up 8.4% of total export revenue.
Top 10 export items and their contributions
The table below presents the biggest contributors to Ghana’s export revenue in 2024:
| Rank | Export Item | Value (GH₵ Billion) | Percentage Share (%) |
|---|---|---|---|
| 1 | Gold bullion | 162.99 | 55.3 |
| 2 | Crude petroleum oils | 52.58 | 17.8 |
| 3 | Cocoa beans (superior quality raw beans) | 14.95 | 5.1 |
| 4 | Cocoa paste (not defatted) | 6.60 | 2.2 |
| 5 | Manganese ores and concentrates | 3.43 | 1.2 |
| 6 | Natural cocoa butter | 3.18 | 1.1 |
| 7 | Cashew nuts (in shell) | 2.65 | 0.9 |
| 8 | Tuna, skipjack, and Atlantic bonito (prepared/preserved, not minced) | 2.23 | 0.8 |
| 9 | Iron/Steel (h/r, irregular coils, not further forged) | 1.93 | 0.7 |
| 10 | Shea (karite) oil and fractions, crude | 1.93 | 0.7 |
Ghana’s strong export performance
The strong performance of Ghana’s export sector in 2024 highlights the nation’s dependence on its key commodities.
The trade surplus of GH₵44.7 billion indicates positive economic momentum, with global demand for gold, petroleum, and cocoa remaining stable.
What’s next for Ghana’s export sector?
Potential for Expansion – Analysts believe that Ghana’s export industry could further expand if value-added processing is increased, especially in cocoa and minerals.
Global Market Trends – The demand for Ghana’s natural resources remains strong, and with favourable market conditions, exports could continue to drive economic growth.
Government Policies – Efforts to diversify export earnings beyond traditional commodities could boost revenue streams and reduce dependence on gold, oil, and cocoa.
Ghana’s export sector remains a vital pillar of its economy, and with strategic policies and investments, the country could further enhance its trade performance in the coming years.
