Ghana records trade surplus of $1.77 billion in first half of 2023

July 22, 2023
Ghana records trade surplus of $1.77 billion in first half of 2023
BoG Governor Dr Ernest Addison

Ghana achieved a trade surplus of $1.77 billion in the first half of 2023, equivalent to approximately 2.4% of Gross Domestic Product (GDP).

This figure is higher than the $1.47 billion (2.0% of GDP) recorded during the same period last year.

According to the July 2023 Summary of Economic and Financial Data by the , total exports as of June 2023 were estimated at $8.17 billion, with total imports at $6.40 billion.

Gold continued to dominate the total value of exports, recording $3.45 billion in June 2023, while crude oil exports brought in $1.66 billion.

Despite the trade surplus, the country's Balance of Payment at the end of June 2023 still showed a deficit of $107.8 million, approximately 0.1% of GDP, which is significantly lower than the deficit of $2.49 billion recorded during the same period in 2022.

The Gross International Reserves stood at $5.34 billion in June 2023, providing approximately 2.5 months of import cover.

However, this is lower than the $7.68 billion recorded in June 2022.

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