Ghana closed 2025 with record export earnings of US$31.1 billion, a sharp increase from the US$19.1 billion recorded in 2024.

The figures were contained in the Bank of Ghana’s Summary of Economic and Financial Data released on January 27, 2026.

Gold emerged as the country’s top export earner, generating US$20 billion in 2025, nearly double the US$10.3 billion recorded in the previous year. Cocoa followed, earning US$3.8 billion, a significant rise from US$1.9 billion in 2024, despite declining prices on the international market—a development industry observers have described as noteworthy.

Oil exports, however, declined during the year, falling from US$3.8 billion in 2024 to US$2.6 billion in 2025. This drop has been attributed to weaker crude oil prices on the global market. Other exports contributed a combined total of US$3.6 billion.

Import Expenditure

The data also showed that Ghana spent US$17.4 billion on imports in 2025. Oil imports increased to US$5.1 billion, up from US$4.6 billion recorded in December 2024.

Non-oil imports similarly rose, reaching US$12.3 billion in 2025, compared with US$10.7 billion in 2024.

As a result of the strong export performance, Ghana’s trade balance improved significantly, recording a surplus of US$13.6 billion.

Gross Reserves and External Position

Meanwhile, Ghana’s gross international reserves reached a record US$13.8 billion in 2025. The country’s current account balance ended December 2025 with a surplus of more than US$900 million.

The total value of Ghana’s economy in monetary terms was pegged at US$1.4 trillion, according to the Bank of Ghana data.