See Ghana's top 10 imports of 2023 (LIST)
Ghana spent a whopping GH₵180.7 billion on imports in 2023, with fuel taking the top two spots.
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This highlights the nation's reliance on imports to meet its energy needs. But what else is Ghana bringing in? The Ghana 2023 Trade report provides an insight into the country's top ten imports and their significance.
China (45.4%), India (15.6%), and the United Arab Emirates (9.2%) were the primary sources of imports from Asia, accounting for a combined 70.2% of the total imports from the continent.
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Three countries, namely the Netherlands (25.8%), the Russian Federation (17.2%), and Belgium (12.4%), collectively contributed to over half (55.4%) of the imports from Europe.
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Nearly one-fifth (19.2%) of the total imports from African countries came from South Africa, with Egypt (14.8%) also being significant contributors. This is followed by Ghana’s three neighbouring countries, Burkina Faso (12.9%), Togo (10.5%), and Côte d’Ivoire (8.8%).
Fuel Dominates: Unsurprisingly, Diesel (AGO) reigns supreme at GH₵27.1 billion, accounting for 15% of all imports. Following closely is a category encompassing light oils like motor spirit and super, valued at GH₵22.3 billion (12.3% share).
More than half of mineral fuels and oils imports originate from four countries: the Netherlands (26.0%), the Russian Federation (18.2%), Belgium (6.2%), and the United Arab Emirates (6.1%).
China stands as the leading import partner for five out of the ten classifications: iron and steel (60.8%), machinery and electrical equipment (37.7%), plastics (33.8%), chemical products (29.4%) and other products (19.0%).
Beyond Fuel: Beyond the dominant fuel imports, Ghana brings in a diverse range of products. Cement clinkers, crucial for construction, come in at number three (GH₵3.1 billion), followed by jet fuel (GH₵2.8 billion) and various cereal grains (GH₵2.7 billion).
Used Cars and Agricultural Needs: Secondhand vehicles with engine sizes between 1500cc and 3000cc hold the sixth position (GH₵2.5 billion), reflecting the demand for affordable transportation. Ghana also imports herbicides and growth regulators (GH₵2.3 billion) to support its agricultural sector.
Machinery and Food Staples: Rounding out the top ten are self-propelled bulldozers (GH₵2.3 billion) for infrastructure development, rice (GH₵2 billion) as a crucial food staple, and shea nuts (GH₵2 billion), a significant export crop in its processed form.
China Remains Top Source: It's important to note that China remains Ghana's biggest import partner, contributing over GH₵30 billion worth of goods. The Netherlands, Russia, India, and the USA also feature prominently as import sources.
China was the largest source of imports to Ghana in 2023, with a total import value of over GH₵30 billion, followed by imports from the Netherlands, the Russian Federation, India, and the United States of America, each with imports exceeding GH₵10 billion.
In 2023, China retained its position as Ghana's largest import partner, increasing from GH₵26.4 billion in 2022 to GH₵33.9 billion.
The Russian Federation emerged as a significant contributor, replacing the UK in the top five, with imports primarily consisting of mineral fuels and oils. The Netherlands remained a major player, with Ghana primarily importing mineral fuels and oils, standing at GH₵17.3 billion.
The ranking of India and the United States of America has swapped, with India becoming the fourth largest import source at GH₵11.7 billion, and the USA following closely behind at GH₵10.9 billion.
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Looking Ahead: Understanding Ghana's import landscape is vital for shaping trade policies and fostering domestic production in key sectors. By strategically reducing reliance on certain imports, Ghana can boost its economic self-sufficiency.
Ten products accounted for over a third (38.3%) of all imports. The highest import value was diesel-automotive gas oil, amounting to GH₵27.1 billion, followed by light oils, motor spirit, and super at GH₵22.3 billion. These are the only two commodities that contributed over 10.0 percent each of all imports.
See Ghana's top 10 imports below;
