Ghana’s exports surged to $9.33 billion in April 2025, due to strong performances in gold and cocoa, according to the Bank of Ghana’s Economic Summary Report for May.

The growth, according to the report, helped to increase Ghana’s trade surplus to $4.14 billion, equivalent to 4.7 per cent of Gross Domestic Product (GDP).

Gold led the export sector with total earnings of $5.24 billion, accounting for 56 per cent of export following a sharp increase from $3.72 billion in March as international prices climbed to $3,218 per ounce.

Cocoa, on the other hand, earned Ghana €1.84 billion in April, improving March’s earnings to $1.50 billion despite falling global prices.

Oil exports contributed a steady $972 million to the total.

The export boom has significantly strengthened Ghana’s external position, with gross international reserves rising to $10.67 billion, enough to cover 4.7 months of imports.

The reserves build-up reflects both strong commodity earnings and improved fiscal management.

While the export sector shows resilience, institutions, including the Bank of Ghana, say Ghana remains vulnerable to commodity price swings and global economic headwinds.