Browsing: Gold Exports

By Adnan Adams Mohammed; Financial and Economic Journalist After a historic bull run that saw gold shatter records earlier this…

By Toma Imirhe Data released by the Bank of Ghana last week reveals that the country’s merchandise trade surplus for…

Ghana closed 2025 on a strong external note, recording a US$31.1 billion in export earnings, up sharply from US$19.1 billion…

Some market watchers are worried over the government’s heavy reliance on gold exports to build the country’s reserves, identifying it…

Ghana’s pivotal change of government from the erstwhile profligate Nana Akufo-Addo administration to the much more fiscally restrained incumbent President John Dramani Mahama administration, coupled with favourable developments in the country’s key international commodity export markets have changed the exchange rate trajectory sharply.

The relative exchange stability enjoyed by the cedi during the latter years of the previous decade and the start of this one were primarily achieved by heavy borrowing of US dollars in the form of annual Eurobond issues of US$3 billion, most of which was used to prop up the supply of foreign exchange on the local currency market.

The performance of the external sector was mainly driven by strong growth in gold exports, which also largely impacted positively on growth.

But the main driver of the improved overall merchandise trade performance was the substantial 21.1% increase in Ghana’s exports last year to US$20,221.0 million, up from US$16,703 million in 2023.