The Minister for Trade, Agribusiness, and Industry designate Elizabeth Ofosu-Adjare has indicated that she will work to improve Ghana's balance of trade if approved by parliament.

According to her, there is the need to embark on value addition of raw materials for export to check the country's foreign exchange challenges.

Speaking during her appearance before parliament’s Appointment Committee today, January 22, 2025 Madam Ofosu-Adjare said the 24-Hour Economy Policy will be a game-changer to support the growth of industries across the country

"We have to work on the production of raw materials in this country. We are going to do contract commercial farming and it will make available raw materials in Ghana which will reduce our importation of raw materials. When we have it, we will import less. That means it can deal with foreign exchange challenges”, she assured.

She expressed optimism that value addition could fetch the country more foreign earnings and also create jobs for the youth.

"When these raw materials are given some value addition, this can also help the economy and decrease the finished product that we import. I will make sure we add value to some traditional commodities as well. With agribusiness, we can do all of this", she said

According to the Bank of Ghana, the country recorded a trade surplus of 542.07 USD Million in October of 2024. Balance of Trade in Ghana averaged -75.82 USD million from 2004 until 2024, reaching an all-time high of 682.31 USD Million in August of 2024 and a record low of -733.10 USD Million in October of 2013

Ghana's main exports are gold, cocoa beans and timber products. Others include tuna, aluminum, manganese ore, diamonds and horticulture. Its main exports partners are Netherlands, Burkina Faso, South Africa and United Kingdom. Ghana imports mostly industrial supplies, capital and consumer goods and foodstuffs.

Ghana main imports partners are China, United States, Belgium, United Kingdom and France.