Ghana’s total export earnings reached $17 billion by the end of August 2025, according to the September Economic and Financial Data released by the Bank of Ghana (BoG) on September 16.

Gold led the way, recording $11.7 billion in earnings compared to $6.6 billion in July 2024.

Cocoa exports brought in $2.4 billion, up from $915 million, while oil exports stood at $1.8 billion, down from $2.7 billion in the same period last year.

On the import side, Ghana spent $11.7 billion to finance imports by the end of August 2025, compared to $10.7 billion in the same period last year.

Oil imports accounted for $3.7 billion, a sharp decline from $10.2 billion in 2024.

Non-oil imports stood at $8 billion, up from $7 billion in August 2024.

This development pushed Ghana’s trade surplus higher, reaching $6.1 billion.

Gross international reserves ended August 2025 at $10.7 billion, down from $11.1 billion in June.

Speaking at the Pre-Monetary Policy Committee Meeting, BoG Governor Dr. Johnson Asiama said Ghana’s strong trade position and reserves were driven by robust gold exports and higher cocoa receipts.

He added that despite seasonal pressures on the cedi and moderating remittance inflows in recent weeks, the country’s gross international reserves still covered about four and a half months of imports.

On the currency, he stressed that the cedi remains one of the strongest globally year-to-date, appreciating by about 21% as of September 12, 2025.a