Ghana flag Ghana: Visió econòmica i política

Xifres de comerç exterior de Ghana

Foreign Trade in Figures

Ghana is very open to foreign trade that represented 68% of GDP in 2020 (World Bank). The government wants to create an economic environment that facilitates the development of the private sector thus guarantying transparent trades and promoting competitiveness in foreign markets. Ghana mainly exports gold and other ore and gems, oil, cocoa, nuts, woods, fish, and horticultural products. The country mainly imports vehicles, rice and other food products, cement, oil, medicines and capital goods.

Ghana is a member of the World Trade Organisation and of the ECOWAS. It has also signed numerous partnership agreements, including with the EU. The European Union also supports the Ghana “Beyond Aid” program aimed at reshaping trade dynamics between the country and developed economies. Customs duties are not high but they are applied to every imported product. Ghana is using the common external customs tariffs of the ECOWAS. The import of some products such as mercury soap, hazardous wastes or contaminated products is prohibited.

Ghana's main clients are China, Switzerland, India, South Africa, and the Netherlands. The Netherlands is its main client for horticultural products. Ghana's main suppliers are China (18.2% of total imports), the United States, the United Kingdom, India and Belgium.
 
According to WTO data, in 2020 Ghana exported goods for a total value of USD 14.47 billion while it imported goods with a total value of USD 12.43 billion. Regarding services, Ghana exported USD 8.06 billion worth of services while it imported 10.16 billion worth of services. In 2020, despite the decrease in oil and cocoa exports and the impact of the COVID-19 pandemic, gold revenues and declining imports fuelled a substantial trade surplus (Coface).

 
Foreign Trade Values 20162017201820192020
Imports of Goods (million USD) 13,35212,64713,13413,41112,429
Exports of Goods (million USD) 11,28313,83514,94315,66814,472
Imports of Services (million USD) 6,2988,4788,96110,94810,155
Exports of Services (million USD) 6,0886,4707,5639,8708,058

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20152016201720182019
Foreign Trade (in % of GDP) 77.370.073.871.971.1
Trade Balance (million USD) -3,144-1,7731,1871,8092,257
Trade Balance (Including Service) (million USD) -4,310-3,067-1,686-706-1,316
Imports of Goods and Services (Annual % Change) 7.9-1.17.94.61.7
Exports of Goods and Services (Annual % Change) -0.314.816.510.36.7
Imports of Goods and Services (in % of GDP) 44.637.838.536.535.3
Exports of Goods and Services (in % of GDP) 32.732.235.335.435.8

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20212022 (e)2023 (e)2024 (e)2025 (e)
Volume of exports of goods and services (Annual % change) -4.84.21.72.79.3
Volume of imports of goods and services (Annual % change) 7.410.95.75.95.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of Economic Community of West African States (ECOWAS)

Member of African Union (AU)

Member of WTO

Member of Commonwealth of Nations

 

Main Partner Countries

Main Customers
(% of Exports)
2019
China 16.7%
Switzerland 14.7%
India 14.2%
South Africa 11.8%
Netherlands 5.8%
See More Countries 36.8%
Main Suppliers
(% of Imports)
2019
China 18.2%
United States 9.4%
United Kingdom 6.6%
India 5.6%
Belgium 5.1%
See More Countries 55.2%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

16.8 bn USD of products exported in 2019
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 37.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 31.3%
Cocoa beans, whole or broken, raw or roastedCocoa beans, whole or broken, raw or roasted 11.0%
Cocoa paste, whether or not defattedCocoa paste, whether or not defatted 2.4%
Manganese ores and concentrates, incl. ferruginous...Manganese ores and concentrates, incl. ferruginous manganese ores and concentrates, with a manganese content of >= 20%, calculated on the dry weight ECSC 2.1%
See More Products 16.1%
10.4 bn USD of products imported in 2019
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 8.4%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 4.2%
RiceRice 3.6%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured 3.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 2.3%
See More Products 78.4%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: September 2022

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