Ghana recorded a trade surplus of US$1.107 billion in 2021 compared to US$2.043 billion recorded in 2020, the Bank of Ghana (BoG) Summary of Economic and Financial Data has shown.
This is equivalent to 1.5% of the country’s gross domestic product (GDP).
The reduction in the trade balance is largely due to the further easing of the economy from the impact of COVID-19 pandemic.
According to the data, exports for the period stood at US$14.73 billion and imports stood at US$13.62 billion for the period.
Gold dominated the total value of exports, recording US$5.08 billion in 2021, compared to US$6.79 billion in 2020 when there was a windfall in the price of gold on the world market.
Exports from crude oil yielded US$3.94 billion for the country in 2021. This is compared with US$2.91 billion in 2020.
According to the data, non-oil imports was estimated at US$10.90 billion, whilst oil imports accounted for US$2.71 billion.
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