Fitch Solutions has significantly upgraded its forecast for Ghana’s 2026 current account surplus, projecting it to reach 7.8% of Gross Domestic Product (GDP), up from its earlier estimate of 5.2%.
The UK-based economic research and analysis firm said stronger gold exports and elevated gold prices are expected to support Ghana’s export earnings and strengthen the country’s external position.
According to Fitch Solutions, Ghana’s robust performance in the gold export sector is expected to remain a key driver of external stability in 2026.
Ghana Current Account Surplus Expected to Remain Strong in 2027
Fitch Solutions expects Ghana’s current account surplus to narrow in 2027, but projects the balance to remain substantial at approximately 5.0% of GDP.
The forecast would still represent a significant improvement compared with Ghana’s historical performance, as the country recorded an average current account deficit of 0.9% of GDP between 2016 and 2025.
The projection highlights the potential impact of Ghana’s strong export performance on the country’s balance of payments and foreign exchange position.
Gold Exports Support Ghana’s External Stability
Fitch Solutions said sustained strength in gold prices is expected to continue supporting Ghana’s export revenues.
Gold remains a major contributor to Ghana’s merchandise export earnings, and higher international gold prices can increase the value of the country’s gold exports when production volumes remain stable.
The firm therefore expects the strength of the Ghana gold sector to help underpin external stability over the forecast period.
Higher export earnings could also provide support to Ghana’s foreign exchange inflows and help strengthen the country’s overall external position.
Ghana Economy and Export Outlook
The revised current account forecast comes amid continued attention on Ghana’s economic recovery, export performance, foreign exchange market and external balances.
A sustained current account surplus means that Ghana’s earnings from international trade and other current transactions are projected to exceed its corresponding payments abroad.
Fitch Solutions’ latest projection therefore points to a stronger external position for Ghana in 2026 and 2027, largely supported by the continued performance of the gold export industry.
The outlook will nevertheless depend on developments in global gold prices, export volumes, import demand and other factors affecting Ghana’s external trade and balance of payments.
Source: newsthemegh.com