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August 11, 2026
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Ghana’s merchandise trade increases to US$52.5bn in 2025 from US$6bn in 2004
Money
Policy
Opportunity
Growth
Key Points
- Ghana's merchandise trade significantly grew from US$6 billion in 2004 to US$52.5 billion in 2025, according to the GSS report.
- The country transitioned from trade deficits to recording substantial surpluses, reaching GH¢148.3 billion in 2025.
- Gold solidified its position as the dominant export, increasing its share to 63.1% by 2025, while cocoa beans declined, though cocoa products and other non-traditional exports saw growth.
- Asia has become Ghana's largest trading partner for both exports and imports, displacing Europe as the primary region.
- The GSS recommends strengthening domestic value addition in key sectors, expanding non-traditional exports, and supporting SMEs to meet international market standards.
Why This Matters
This report provides a critical long-term perspective on Ghana's economic health and trade strategy. The shift to consistent trade surpluses is a positive indicator for macroeconomic stability, while the changing composition of exports and partners highlights areas for policy intervention, diversification efforts, and new market opportunities for Ghanaian businesses.
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- Dr. Boako, a Deputy Ranking Member on Parliament’s Finance Committee, questioned GoldBod's reported GH¢907 million profit, stating an outstanding overdraft would reflect a loss.
- GoldBod labeled Dr. Boako’s claim as “totally false,” a “deliberate and malicious smear campaign,” and demanded a retraction and apology.
- This dispute is set against a broader political and economic debate concerning GoldBod’s financial performance and the accounting treatment of GH¢22 billion losses from the Domestic Gold Purchase Programme (DGPP).
- GoldBod asserts it has never taken any loan, overdraft, or debt instrument from the Bank of Ghana or any financial institution since its establishment.
August 24, 2026
GoldBod losses remain key on Minority agenda as Parliament reconvenes – Afenyo-Markin
- The NPP Minority Leader, Alexander Afenyo-Markin, reaffirmed the caucus's commitment to investigate a reported US$1.7 billion loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the Ghana Gold Board (GoldBod).
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August 23, 2026
Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
- The Institute of Economic Research and Public Policy (IERPP) welcomes Ghana's US$2.62 billion Foreign Direct Investment (FDI) as a sign of investor confidence.
- However, IERPP tempers this optimism with concern over an estimated GH¢22 billion (US$1.7 billion) loss from the Domestic Gold Purchase Program (DGPP).
- The DGPP loss is significant, equating to about 65 cents for every US$1 of FDI attracted, highlighting a major resource management issue.
- IERPP emphasizes that while FDI is crucial, it cannot substitute for prudent management and protection of existing public resources.
- The Institute calls for greater transparency, a clear breakdown of DGPP losses, and intense scrutiny from accountability institutions, Parliament, and civil society.