The Ghana Statistical Service (GSS), following the release of its First Quarter 2026 Trade Report, has reported a GH¢46.1 billion trade surplus for the first three months of the year.
The country recorded exports worth GH¢110.3 billion between January and March, compared with imports valued at GH¢64.2 billion.
According to Government Statistician, Dr. Alhassan Iddrisu, the figures show that Ghana’s total merchandise trade reached GH¢174.6 billion, equivalent to US$16.1 billion, during the quarter.
“Ghana traded goods worth 174.6 billion Ghana cedis or 16.1 billion US dollars in just the first 3 months of 2026.That is the equivalent of almost 2 billion Ghana cedis worth of trade every single day.”
Gold was the dominant contributor to export earnings, generating GH¢63.7 billion, or US$5.9 billion, during the period. Cocoa exports also recorded an improvement, while Asia maintained its position as Ghana’s largest trading region.
Trade with other African countries also strengthened during the quarter, according to the GSS.
However, Dr. Iddrisu said the headline surplus should be interpreted with caution because the value of exports was significantly influenced by higher commodity prices rather than a corresponding increase in the volume of goods exported.
“When we adjust for price effect using the unit value index, the picture changes from a nominal surplus to a real trade deficit, reminding us that higher prices rather than higher export volumes explain much of the strong trade performance.”
He identified gold as the main driver of the increase in export prices.
“Much of the price gain in quarter one of 2026 came from gold.”
The findings have renewed the call for Ghana to reduce its dependence on a few commodities and increase the value derived from its exports through processing and manufacturing.
The GSS is encouraging stronger export diversification, greater value addition and increased participation in regional markets through the African Continental Free Trade Area (AfCFTA).
“Government should continue promoting export diversification, value addition, and regional trade under the AFCFTA.”
Dr. Iddrisu also called on businesses to invest in processing, innovation and competitiveness while taking advantage of opportunities presented by the continental market.
He further urged consumers to support locally produced goods, linking domestic consumption to job creation and economic growth.
