Sign in Subscribe
Exports

Ghana's Gold Exports Surge, Boosting Trade Balance

Strategic Insights

— 1 min read

Ghana's gold exports have shown a significant increase in recent months, driving the country's trade balance to new heights. According to the Bank of Ghana, the sector's growth can be attributed to increased production, higher global prices, and government efforts to promote responsible mining practices. This remarkable improvement in Ghana's external trade performance has resulted in a trade surplus of $5.57 billion in June 2025, with the second quarter of the year witnessing a sharp increase in gold shipments to $8.39 billion.

Key Takeaways:

  • Gold exports rose from $4.65 billion in June 2024 to $8.39 billion in June 2025, a significant increase of 80%.
  • The sector's strong performance accounted for over 60% of total exports in some quarters.
  • Gold remained the top foreign exchange earner, driven by increased production and higher global prices.
  • Government efforts to curb illegal mining and promote responsible sourcing have contributed to the sector's growth.
  • The strong performance of gold, alongside cocoa and oil, pushed Ghana's trade balance to a surplus of $5.57 billion in June 2025.
  • The current account balance also improved significantly, recording a surplus of 3.9% of GDP by mid-2025.
  • Gross International Reserves (GIR) expanded to $11.12 billion in June 2025, supported by rising gold holdings.
  • The increase in gold holdings was from 20.6 tonnes in March 2024 to 33.0 tonnes in June 2025, a growth of 61%.

Statistics:

  • Gold exports grew by $3.74 billion from June 2024 to June 2025, representing an 80% increase.
  • Gold accounted for 62.5% of total exports in June 2025.
  • The trade balance surplus peaked at $5.57 billion in June 2025.
  • Ghana's current account balance recorded a surplus of $3.44 billion, 3.9% of GDP by mid-2025.
  • Gross International Reserves (GIR) stood at $11.12 billion in June 2025.
  • Gold holdings increased from 20.6 tonnes in March 2024 to 33.0 tonnes in June 2025.

Sources:

  • Ghana News Agency (01 Aug 2025)
  • Bank of Ghana (Reports: Gold Exports, Trade Balance, Current Account Balance, and Gross International Reserves)

Read more