Ghana: Visió econòmica i política
Ghana is very open to foreign trade that represented 58% of GDP in 2021 (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, petroleum oil, cocoa, nuts, woods, fish, and vegetable oils. The country mainly imports machinery, vehicles, petroleum oils, iron, electrical products, plastics, cereals and other food products, medicines and capital goods (ITC, 2021).
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 (ITC, latest data available).
According to WTO data, in 2021 Ghana exported goods for a total value of USD 14.73 billion while it imported goods with a total value of USD 13.63 billion. Regarding services, Ghana exported USD 9.17 billion worth of services while it imported 12.34 billion worth of services. In March 2022, the merchandise trade surplus reached an all time high of USD 676.21 million (Bank of Ghana).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 12,647 | 13,134 | 13,411 | 12,429 | 13,629 |
Exports of Goods (million USD) | 13,835 | 14,943 | 15,668 | 14,472 | 14,727 |
Imports of Services (million USD) | 8,478 | 8,961 | 10,948 | 10,155 | 12,338 |
Exports of Services (million USD) | 6,470 | 7,563 | 9,870 | 8,058 | 9,174 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 70.5 | 68.0 | 76.8 | 38.5 | 58.4 |
Trade Balance (million USD) | 1,187 | 1,809 | 2,257 | 2,043 | 1,099 |
Trade Balance (Including Service) (million USD) | -1,686 | -706 | -1,316 | -2,468 | -2,066 |
Imports of Goods and Services (Annual % Change) | 7.7 | 5.0 | 15.9 | -54.5 | 113.8 |
Exports of Goods and Services (Annual % Change) | 23.8 | 6.6 | 12.7 | -50.7 | 69.1 |
Imports of Goods and Services (in % of GDP) | 36.7 | 34.5 | 39.4 | 17.8 | 28.5 |
Exports of Goods and Services (in % of GDP) | 33.9 | 33.5 | 37.4 | 20.7 | 29.9 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 5.4 | 3.1 | 5.4 | 3.9 | 5.5 |
Volume of imports of goods and services (Annual % change) | 10.6 | 2.7 | 4.2 | 5.0 | 5.4 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of African Union (AU)
Member of WTO
Member of Commonwealth of Nations
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, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
9.4 bn USD of services exported in 2019 | |
68.79% | |
15.20% | |
Business travelBusiness travel | 10.64% |
Personal travelPersonal travel | 4.56% |
5.34% | |
4.54% | |
3.21% | |
1.09% | |
0.80% | |
0.59% | |
0.44% |
13.2 bn USD of services imported in 2019 | |
53.75% | |
19.33% | |
17.85% | |
2.48% | |
Business travelBusiness travel | 1.74% |
Personal travelPersonal travel | 0.75% |
2.35% | |
1.44% | |
1.09% | |
0.87% | |
0.82% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023