Ghana Ranks Among Top 6 African Countries in Intra-African Trade 


Ghana has been ranked among the top six African economies in intra-African trade, according to the 2024 Africa Trade Report released during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria.

The report highlights a modest increase in Ghana’s intra-African trade performance compared to 2023, covering both export and import activities within the continent.

Ghana’s total exports to other African countries rose to $4.8 billion in 2024, up from $3.5 billion in 2023, giving the country a 3.8% share of Africa’s intra-continental exports. This placed Ghana sixth, behind countries such as South Africa, Nigeria, and the Democratic Republic of Congo. On the import side, Ghana accounted for 1.7% of the continent’s total intra-African imports.

Overall, Ghana recorded $19.68 billion in merchandise export earnings in 2024, representing a 17% year-on-year increase. The report also acknowledged Ghana’s active role in promoting regional financial integration, especially its support for an African Union initiative urging member states to allocate 30% of their reserves to African multilateral financial institutions.

The report further noted progress in Ghana’s export diversification strategy. While mineral fuels continue to dominate export volumes, the country is gradually expanding into higher value-added goods through investments in industrial value chains and logistics infrastructure. This trend signals a shift from primary commodity exports to a more industrialized and manufacturing-based trade model.

In West Africa, Côte d’Ivoire maintained its position as a key regional trade hub. The country imports crude oil largely from Nigeria and re-exports refined petroleum products to markets including Ghana, Burkina Faso, and Mali. These re-exports constitute over 50% of Côte d’Ivoire’s intra-African trade.

The report also revealed that West Africa’s unrealized intra-African export potential is estimated at $7.23 billion, out of a possible $13 billion. Six product categories alone account for $2.3 billion, or 32%, of this gap.

On a continental level, Africa’s share of global exports fell slightly, from 3.5% in 2009 to 3.3% in 2024. Intra-African trade currently accounts for only 14.4% of the continent’s total formal trade, underscoring the need for deeper integration and the full implementation of the African Continental Free Trade Area (AfCFTA).