Ghana recorded a GH¢46.1 billion trade surplus in the first quarter of 2026, as the country’s total exports significantly exceeded its imports, according to the latest data from the Ghana Statistical Service (GSS).
The First Quarter 2026 Trade Report indicates that Ghana exported goods worth approximately GH¢110.3 billion, compared with imports valued at GH¢64.2 billion between January and March 2026.
Government Statistician Dr. Alhassan Iddrisu disclosed that Ghana’s total merchandise trade reached GH¢174.6 billion, equivalent to about US$16.1 billion, during the first three months of the year.
According to him, the figure represents an average of nearly GH¢2 billion in trade every day, highlighting the scale of Ghana’s international trade and economic activity.
Gold Drives Ghana’s Export Earnings
Gold exports remained the leading contributor to Ghana’s export revenue, generating approximately GH¢63.7 billion, or US$5.9 billion, during the quarter.
The country’s cocoa exports also recorded an improvement, contributing to the overall growth in export earnings.
Dr. Iddrisu noted that Asia remained Ghana’s largest trading partner, while trade between Ghana and other African countries also showed positive developments during the period.
Ghana’s Trade Surplus Affected by Higher Gold Prices
Despite the impressive GH¢46.1 billion trade surplus, the Ghana Statistical Service cautioned that the figures should be interpreted carefully.
Dr. Iddrisu explained that when the impact of price changes is taken into account using the Unit Value Index, Ghana’s trade position changes from a nominal surplus to a real trade deficit.
This means that a significant portion of the increase in Ghana’s export earnings was driven by higher commodity prices rather than an increase in the physical volume of goods exported.
Gold played a particularly important role in this development, with Dr. Iddrisu indicating that much of the increase in export prices during the first quarter of 2026 was linked to the precious metal.
GSS Calls for Export Diversification and Value Addition
The Ghana Statistical Service is urging policymakers and businesses to focus on export diversification, value addition and increased participation in regional trade to make Ghana’s economy more resilient.
The call is particularly relevant under the African Continental Free Trade Area (AfCFTA), which provides opportunities for Ghanaian businesses to expand into other African markets.
Dr. Iddrisu said the government should continue implementing policies that encourage export diversification, local processing, value addition and regional trade.
He also urged businesses to invest in manufacturing, processing, innovation and competitiveness so that Ghana can export more finished and high-value products rather than relying heavily on raw commodities.
Ghanaians Encouraged to Buy Made-in-Ghana Products
The Government Statistician also called on Ghanaian consumers to support locally manufactured and Ghanaian-made products.
According to him, buying quality locally produced goods can help stimulate domestic businesses, create employment opportunities and strengthen the local economy.
Businesses, he added, should take advantage of opportunities created by AfCFTA, while investing in processing and innovation to compete effectively in both Ghanaian and international markets.
The latest trade figures highlight the important role of gold, cocoa and other commodities in Ghana’s export economy, while also reinforcing the need for greater diversification to achieve sustainable economic growth.
Source: newsthemegh.com