Ghana posted a US$13.66 billion trade surplus in 2025, significantly higher than the US$9.88 billion recorded in 2024.

This was driven largely by a sharp rise in export earnings from gold and cocoa, the Bank of Ghana revealed on Monday in its latest Monetary Policy Report.

Total export receipts increased markedly to US$31.11 billion at end‑December 2025, compared with US$19.16 billion in the corresponding period of 2024.

Gold remained the largest contributor to export receipts, with earnings more than doubling to US$20.98 billion, up from US$10.31 billion a year earlier.

The Bank attributed the outturn to both increased export volumes and higher global prices.

Export volumes rose by 35.7 percent to 6.17 million fine ounces, while the average price of gold surged by 49.9 per cent to US$3,400.35 per fine ounce, reflecting heightened global economic uncertainty and geopolitical tensions.

Cocoa exports, including beans and processed products, also performed strongly, generating US$3.86 billion in 2025 compared to US$1.94 billion the previous year.

The improvement was supported by higher export volumes and elevated world cocoa prices.

Crude oil export earnings, however, fell by 32.3 per cent to US$2.62 billion, down from US$3.87 billion in 2024.