Ghana recorded a US$4.3 billion trade surplus in the first quarter of 2026, with gold exports accounting for a significant share of the country’s export earnings.
The latest figures from the Ghana Statistical Service (GSS) show that the country exported goods valued at US$10.2 billion between January and March, compared with imports worth US$5.9 billion.
Government Statistician, Dr Alhassan Iddrissu, explained that the figures mean a substantial portion of Ghana’s export earnings was spent on imported goods during the period.
He, however, cautioned that the headline trade surplus does not fully reflect the actual volume of goods exchanged, as the figures are influenced by prevailing international prices.
According to him, after accounting for price increases, Ghana’s exports were valued at about US$2.6 billion, while imports stood at US$3.2 billion.
Gold continued to dominate Ghana’s export sector, generating approximately US$5.9 billion in earnings during the quarter.
Although cocoa exports also recorded an improvement, Dr Iddrissu warned that Ghana remains heavily dependent on a limited number of commodities for its export revenue.
He noted that the strong performance in export values was largely influenced by higher gold prices, further underscoring the commodity’s importance to Ghana’s international trade.
The Government Statistician also expressed concern over the concentration of Ghana’s export destinations, indicating that India and Switzerland alone accounted for more than one-third of Ghana’s exports during the period.
The GSS says the figures highlight the need for Ghana to broaden both its export base and international markets to reduce reliance on a few commodities and trading partners.