Ghana Import Data

Ghanaian Import/Export Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Ghana's chief trading partners include China, India, the United States, and European nations like the United Kingdom and Germany.

• Top 5 Imports: Petroleum products, machinery, vehicles, pharmaceuticals, and cereals. These constitute roughly 35% of the total import volume.

• Top 5 Exports: Gold, cocoa beans, cocoa paste, oil, and timber. Exports of these items account for over 75% of total exports.

• Trade Balance: Ghana enjoys a trade surplus, primarily due to strong exports in the commodities sector, particularly gold and cocoa.

• Trade Policy Snapshot: Ghana promotes free trade, with policies aiming to reduce barriers and foster economic partnerships, especially within the African Continental Free Trade Area.

Domestic Market

• Consumer Spending: Ghana's consumer spending has been robust, driven by a growing middle class, though it faces challenges from inflationary pressures.

• Interest Rates & Inflation: The Central Bank has been vigilant in managing inflation through interest rate adjustments, aiming to stabilize the economy and encourage savings.

• Supply Chain Dynamics: Supply chains have been resilient despite global disruptions, supported by government initiatives to enhance local production and reduce dependency on imports.

• Industry Growth: The service sector, including finance and telecommunications, is thriving. The agriculture and mining sectors, while facing challenges, remain key contributors to the economy.

Overall Outlook

Ghana's economy, bolstered by strong exports and a vibrant domestic market, is poised for growth. The government's focus on diversification and infrastructure development is expected to further enhance the country's economic resilience.