The Ghana Statistical Service (GSS) has officially launched the 2024 Annual Trade Report and the Q4 2024 Trade Newsletter, providing a comprehensive overview of Ghana’s international trade performance and its growing role in the global market.

At the launch event, Mr Dominic Odoom, Head of Trade Statistics at GSS, highlighted the crucial role of accurate trade data in shaping economic policies. He emphasised as Ghana strengthened its presence in global trade, the demand for timely and reliable information to support effective decision-making was more vital than ever.

The event also featured a presentation by the Government Statistician, Professor Samuel Kobina Anim, who provided an in-depth analysis of the report’s findings. Professor Anim stressed the significance of using robust trade data to formulate policies that drive sustainable economic development and would enhance Ghana’s competitiveness on the world stage.

The 2024 Annual Trade Report reveals a positive trade performance for Ghana, with total exports reaching GH₵294.9 billion, surpassing imports of GH₵250.2 billion, and yielding a trade surplus of GH₵44.7 billion. This marked a substantial improvement compared to the previous year. Gold remained Ghana’s top export commodity, accounting for 55.3 percent of total export revenue, followed by petroleum and oils (17.8 percent) and cocoa and cocoa products (8.4 percent).

The report also highlighted a shift in trading patterns, with exports to African nations nearly doubling compared to imports, reinforcing Ghana’s growing role in intra-African trade within the African Continental Free Trade Area (AfCFTA).

The Q4 2024 Trade Newsletter further detailed trade activity for the final quarter of the year. Exports totaled GH₵92.9 billion, while imports amounted to GH₵72.4 billion, resulting in a trade surplus of GH₵20.5 billion—significantly higher than the GH₵6.1 billion surplus recorded in Q4 2023. Gold exports for the quarter were valued at GH₵49.8 billion, making up 53.6 percent of total export earnings, followed by crude petroleum, cocoa, and other cocoa products, which together contributed 26.4 percent. Mineral fuels and machinery remained the most imported items during this period.

The launch event featured dynamic discussions and interactive sessions, providing stakeholders with the opportunity to explore the findings in detail and discuss strategies to enhance Ghana’s trade position further.

The GSS encourages policymakers, business leaders, researchers, and the public to explore the full report and newsletter. By leveraging this valuable data, Ghana aims to continue strengthening its trade sector, driving economic growth, and boosting its global competitiveness.