The 2025 Q3 Quarterly Trade Newsletter released by the Ghana Statistical Service, has shown that the total value of external trade was composed of “exports valued at GHC80.8 billion compared to imports amounting to GHC64.1 billion”.
Despite the high volume of trade, the nation experienced a reduction in its trade balance for the period as “Ghana registered a trade surplus of GHC16.7 billion in the third quarter of 2025, reflecting a decline from the GHC29.5 billion surplus recorded in the second quarter of 2025”.
This 43.4 percentage point decline in the surplus highlights the fluctuations in international demand and commodity pricing that occurred during the middle of the year.
The value trade recoded marks a significant period of commercial activity as the nation continues to navigate the complexities of the global market.
The release also revealed that the composition of Ghana’s exports remains heavily concentrated in primary commodities, with gold standing out.
“Gold accounted for more than two-thirds (73.4%) of total exports during the third quarter of 2025”. In terms of value, gold bullion exports reached GHC59.2 billion, a figure that was “more than ten times the value of crude petroleum,” which was the second-highest export product at GHC5.9 billion.
This significant reliance on gold is further evidenced by the fact that the top five export products combined accounted for 85.3 per cent of the country’s total export earnings during this period.
Furthermore, the geographical focus of these trade flows underscores the growing importance of Eastern markets.
“The continent of Asia emerged as the principal destination for over half (50.1%) of Ghana’s export commodities and the primary origin for nearly half (47.5%) of all imported commodities in the third quarter of 2025”.
Within this regional framework, China maintained its position as “the leading source of imports, supplying GHC14.6 billion,” which constituted more than 20% of all imports.
India and the United Arab Emirates emerged as critical export markets, together accounting for 44.8 per cent of Ghana’s export revenue, illustrating a strategic shift in Ghana’s trade partnerships.
