Ghana’s gross reserves plummet to US$12.94bn in June 2026, but trade surplus hits US$8.80bn

Ghana’s gross international reserves plummeted by US$1.2 billion to US$12.94 billion in June 2026.

This is, however, equivalent to 5.0 months of import cover.

According to the July 2026 Summary of Economic and Financial Data by the Bank of Ghana, the country’s reserves stood at $14.15 billion in March 2026, higher than US$13.82 billion in December 2025.

The report stated that the external sector position of the country improved remarkably, supported by a higher current account surplus and a reduction in net financial outflows.

Trade surplus hits $US8.80bn

Meanwhile, the country’s trade balance recorded a provisional surplus of US$8.80 billion in June 2026, higher than the surplus of US$5.76 billion recorded in the corresponding period of 2025.

The surplus was primarily driven by an increase in gold exports.

Total exports went up to US$18.29 billion as of May 2026.

Notably, gold exports rose by 49.02% year-on-year to US$12.49 billion in June 2026.

Similarly, oil and cocoa exports increase.

Crude oil exports went up to US$1.71 billion in June 2026 compared to US1.36 billion a year ago, whilst cocoa exports also increased to US$2.28 billion in June 2026, as against US$2.16 billion in June 2025.

The total import bill increased to US$9.84 billion in June 2026, as compared to US$8.02 billion in June 2025.