Ghana's international trade performance improved significantly in 2025, with the country recording a trade surplus of GH¢148.3 billion, more than three times the GH¢44.7 billion surplus recorded in 2024, according to the 2025 Annual International Merchandise Trade Statistics Report released by the Ghana Statistical Service (GSS).
Total trade increased from GH¢545.1 billion in 2024 to GH¢654.7 billion in 2025, representing a growth of 20.1 per cent. Exports amounted to GH¢401.5 billion, while imports stood at GH¢253.2 billion.
Gold remained Ghana's dominant export commodity, generating GH¢252.4 billion and accounting for nearly 63 per cent of total exports.
Cocoa beans and cocoa products contributed GH¢56.2 billion, while mineral fuels and oils generated GH¢35.3 billion. Together, these three commodity groups accounted for nearly 86 per cent of total exports, highlighting Ghana's continued dependence on a narrow range of primary commodities.
Exports exceeded imports in every month of 2025, with December recording the highest monthly trade activity at GH¢66.1 billion, driven by exports of GH¢46.0 billion—the highest monthly export figure of the year.
Asia remained Ghana's key trade partner, with its share of exports rising by 11.8 percentage points between 2024 and 2025. In contrast, Europe's trade share declined, with exports falling by 6.7 percentage points.
Ghana also expanded its global trade reach, importing from 216 countries and exporting to 163 countries, both higher than in 2024.
On the import side, mineral fuels and oils held steady at 25.7 per cent of total imports in both 2024 and 2025, despite a slight increase in value from GH¢64.3 billion to GH¢65.0 billion. China remained Ghana's largest import source, with imports valued at GH¢57.6 billion, up from GH¢56.8 billion in 2024.
Another important finding relates to nominal and real trade performance. Although Ghana recorded a nominal trade surplus of GH¢148.3 billion, the country recorded a real trade deficit of GH¢3.4 billion after adjusting for inflation and price changes. This indicates that rising global commodity prices, especially gold prices, contributed significantly to export earnings growth.
Trade within Africa recorded notable growth in 2025. Ghana achieved a trade surplus of GH¢34.7 billion with African countries, exporting more than double the value of imports from the continent. South Africa remained Ghana's leading export destination within Africa, while Nigeria was the largest source of imports from the continent, mainly petroleum products.
The report also highlights developments in food trade. Food exports increased by GH¢33.3 billion between 2024 and 2025, while food imports declined by GH¢2.4 billion. Cocoa products accounted for 70.8 per cent of food exports, followed by edible fruits and nuts at 12.3 per cent.