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.
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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.
