Ghana Records Significant Trade Surplus in Q3 2024
Ghana Records Significant Trade Surplus in Q3 2024
- Ghana's economy has shown positive signs
- This marks a significant improvement from the previous year's deficit of GH₵2.3 billion
- This positive trade balance is a promising development for Ghana's economy
Ghana’s economy has shown positive signs, with the country recording a trade surplus of GH₵3.9 billion in the third quarter of 2024.
This marks a significant improvement from the previous year’s deficit of GH₵2.3 billion.
The Ghana Statistical Service (GSS) attributed the surplus to increased exports, particularly in gold, which accounted for over 60% of total exports.
Other key export commodities included crude petroleum, cocoa paste, manganese ore, and tuna.
While imports increased, the growth was outpaced by the rise in exports. Mineral fuels and oils remained the top import category, with gas oil being the largest contributor.
This positive trade balance is a promising development for Ghana’s economy, indicating improved economic performance and increased foreign exchange earnings.
