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Ted News Ghana Blog of Sunday, 9 March 2025
Source: TEDDY VAVA GAWUGA
he Ghana Statistical Service (GSS) has unveiled its 2024 trade report, revealing that gold, mineral fuels and oils, and cocoa remain the backbone of the country’s export economy, contributing 83.4% of total export revenue.
Key Export Figures
🔹 Gold: GHC 163.0 billion (Top Export Earner)
🔹 Mineral Fuels & Oils: GHC 54.2 billion
🔹 Cocoa & Cocoa Products: GHC 28.6 billion
The report underscores Ghana’s growing reliance on these commodities, with their combined share increasing from 80.6% in 2023 to 83.4% in 2024.
“This dominance highlights the concentration of Ghana’s export portfolio in these sectors,” – GSS Report
Import Trends & Economic Implications
Despite a decline in the share of mineral fuel and oil imports from 32.1% in 2023 to 25.7% in 2024, the value of these imports increased by GHC 6.3 billion, indicating a rising demand.
Longstanding Export Dependence
Historically, gold, cocoa, and oil have been Ghana’s primary export drivers. In 2024, these commodities collectively accounted for 78.2% of total export revenue, reinforcing their critical role in the economy.
While annual percentages fluctuate, the report confirms that Ghana’s export sector remains heavily reliant on these three resources, emphasizing the need for diversification to mitigate risks associated with global market fluctuations.
