Ghana has recorded a major economic milestone after posting a $4.2 billion trade surplus in the fourth quarter of 2025, according to fresh data released by the Ghana Statistical Service. The performance marks a sharp increase from the $1.5 billion surplus recorded in the previous quarter, showing a strong upward shift in external trade balance.
Export earnings remained the key driver of this growth as total exports for the third and fourth quarters reached $17.5 billion, while imports stood at $11.3 billion over the same period. As a result, the country strengthened its trade position and reinforced investor confidence in its external sector performance.
Gold continued to dominate Ghana’s export structure and accounted for more than 70 percent of total exports in the last two quarters of 2025. In addition, gold bullion alone reached GH₵72.7 billion in value during the fourth quarter, making it the single most valuable export product in the country.
Cocoa beans and crude petroleum also played a significant role in supporting export earnings. Cocoa was valued at GH₵34.4 billion, while crude petroleum reached GH₵33.2 billion. Together, these three commodities contributed nearly 80 percent of total export earnings, which highlights Ghana’s continued reliance on a narrow export base.
Asia remained the dominant export destination in the fourth quarter of 2025 as it absorbed 53.4 percent of Ghana’s total exports. Europe followed with 24.9 percent, while other regions accounted for the remaining share. At the same time, Asia also led import sources with 46.8 percent of total imports, reinforcing its central role in Ghana’s trade structure.
Cumulatively, gas oil emerged as the leading import product, accounting for 11.2 percent of total imports. Motor spirit and other refined petroleum products also contributed significantly to import demand, reflecting continued energy dependence.
The strong trade surplus signals improved external sector stability and supports Ghana’s foreign reserve position. By the end of December 2025, Ghana’s gross international reserves stood at $13.8 billion, further strengthening macroeconomic resilience.
Economists note that the sustained export growth, especially from gold, could support the Ghanaian cedi and improve fiscal stability if maintained over the coming quarters. However, reliance on a few primary commodities remains a structural risk for long-term diversification.
