Gold, Cocoa exports boost Ghana’s Trade surplus in first half — BoG Governor

Strong earnings from gold and cocoa exports have contributed significantly to Ghana’s improved trade surplus during the first half of the year, Bank of Ghana Governor, Dr Johnson Pandit Asiama, has disclosed.

According to Dr Asiama, the two key export commodities recorded strong performance over the period, helping to strengthen Ghana’s external trade position.

“Exports of gold and cocoa have performed strongly, helping Ghana record a higher trade surplus during the first half of the year,” he said.

The BoG Governor made the remarks during a stakeholder engagement in Sunyani in the Bono Region.

Dr Asiama also highlighted the role of monetary policy in maintaining the gains recorded in the economy, noting that the current policy rate of 14 percent provides room for the central bank to continue managing inflation while supporting economic activity, investment and business expansion.

He assured stakeholders that the Bank of Ghana would continue to work towards maintaining stability in the foreign exchange market and ensuring that the market operates in an orderly manner.

Dr Asiama said the central bank’s broader objective was to create a stable economic environment where businesses can make long-term investment decisions, households can plan effectively and citizens can benefit from sustained economic growth.

“Our goal is simple – to create an economic environment where businesses can grow with confidence, households can plan for the future, and every Ghanaian can share in the benefits of a stable and growing economy,” he said.

He, however, cautioned that the recent improvements in Ghana’s economic indicators should not lead to complacency, particularly given the uncertainties affecting the global economy.

“The progress we have made is encouraging, but we must not become complacent. The global economy remains uncertain, and events beyond our borders can still affect us,” Dr Asiama stated.

He said the Bank of Ghana would therefore continue to pursue policies aimed at preserving the value of the cedi, containing inflation, maintaining financial stability and supporting sustainable economic growth.

The Governor’s comments highlight the growing contribution of Ghana’s major export commodities to the country’s external sector while underscoring the need for continued monetary and financial stability to sustain the economic recovery.

Prince Antwi

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