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 Bank of Ghana, 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.
