Ghana's merchandise trade increased from US$6 billion in 2004 to US$52.5 billion in 2025, according to the latest report by the Ghana Statistical Service (GSS).

‎The report, titled “Ghana's Merchandise Trade Statistics, 2004–2025: Two Decades in Review,” provides a 21-year assessment of the country's merchandise trade performance.

‎It shows that Ghana has gradually shifted from years of trade deficits to recording surpluses in recent years.

‎The country recorded trade surpluses in 2011, 2014, 2018, 2019, 2023, 2024 and 2025.

‎The surplus increased from GH¢5.3 billion in 2023 to GH¢44.7 billion in 2024, before rising significantly to GH¢148.3 billion in 2025.

‎Gold dominates exports

‎Gold has strengthened its position as Ghana's leading export commodity.

‎Its share of Ghana's exports increased from 38.5 percent in 2004 to 63.1 percent in 2025.

‎In contrast, cocoa beans and cocoa products accounted for 29.3 percent of exports in 2004 but declined to 14 percent in 2025.

‎Mineral fuels and oils accounted for 8.8 percent of exports in 2025.

‎Ghana’s Merchandise Trade Statistics 2004 -2025 (Two Decades in Review)

‎The report, however, points to growth in some non-traditional exports.

‎Cocoa products increased their share from 9.8 percent in 2004 to 27 percent in 2025, while edible fruits and nuts increased from 6.1 percent to 12.1 percent.

‎Plastics accounted for 8.5 percent of exports in 2025.

‎Asia becomes Ghana's biggest trading region

‎The report also highlights a major shift in Ghana's trading relationships.

‎Asia accounted for 50.1 percent of Ghana's exports in 2025, up from just 7.9 percent in 2004.

‎Over the same period, Europe's share of exports fell from 51.2 percent to 26.8 percent.

‎Asia has also become Ghana's largest source of imports, with its share increasing from 26.9 percent in 2004 to 48.4 percent in 2025.

‎Europe's share of imports, meanwhile, declined from 45.9 percent to 24.7 percent.

‎Fuel and vehicles remain major imports

‎On the import side, mineral fuels and oils accounted for 25.7 percent of imports in 2025.

‎Vehicles and automotive parts represented 15.4 percent, while machinery and electrical equipment accounted for 13.9 percent.

‎The GSS says the findings point to opportunities to strengthen domestic value addition, increase production and improve trade facilitation.

‎GSS calls for greater value addition

‎The report recommends greater value addition in Ghana's gold and cocoa industries, expansion of non-traditional exports and stronger support for small and medium-sized enterprises seeking to enter export markets.

It also highlights the growing importance of Asian markets and the need for Ghanaian businesses to meet international market standards.

‎The statistics are based on customs records from the Ghana Revenue Authority's Integrated Customs Management System (ICUMS) and follow United Nations International Merchandise Trade Statistics standards.

‎The GSS says the report is intended to support policy development, business decisions, research and public understanding of Ghana's trade performance.