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Pricing

2023
Flag → Flag
Exports $1.05BRnk 39 / 137
2023
Flag → Flag
Top Product $956MRefined Petroleum
2023
Flag → Flag
Exports $11MRnk 53 / 172
2023
Flag → Flag
Top Product $9.56MOther Oily Seeds
2023
Flag
Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
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Economic Complexity (ECI) ECI -0.97Rnk 109 / 132
2023
Flag  
GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
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GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
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 GDP$76.4BCURRENT US$
Rnk 82 / 195
2013-2023
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GDP GROWTH21.6%CURRENT US$
Rnk 135 / 195
2023
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GDP PC $13,817CURRENT US$
Rnk 74 / 195
2013-2023
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GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195
2023
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GDP PC$2,260CURRENT US$
Rnk 152 / 196
2013-2023
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GDP PC GROWTH-1.47%CURRENT US$
Rnk 154 / 195

About

Russia-Ghana Trade: In 2023, Russia exported $1.05B to Ghana. The main products that Russia exported to Ghana were Refined Petroleum ($956M), Processed Cereals ($49.9M), and Nitrogenous Fertilizers ($27.8M). Over the past 5 years the exports of Russia to Ghana have increased at an annualized rate of 42.4%, from $179M in 2018 to $1.05B in 2023.

In 2020, Russia exported services to Ghana worth $380k, with Other business services ($109k), Transportation ($91k), and Financial services ($86k) being the largest in terms of value.

Ghana-Russia Trade: In 2023, Ghana exported $11M to Russia. The main products that Ghana exported to Russia were Other Oily Seeds ($9.56M), Other Pure Vegetable Oils ($983k), and Cocoa Paste ($201k). Over the past 5 years the exports of Ghana to Russia have decreased at an annualized rate of 34.9%,  from $93.7M in 2018 to $11M in 2023.

In 2023, Ghana did not export any services to Russia.

Comparison: In 2023,  Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Ghana ranked 109 in the Economic Complexity Index (ECI -0.97), and 71 in total exports ($27.1B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $9.2M and imported $7M from Ghana, resulting in a positive trade balance of $2.2M. Between January 2021 and January 2022 the exports of Russia have increased by $5.76M (168%) from $3.44M to $9.2M, while imports increased by $1.34M (23.7%) from $5.66M to $7M.

Trade In January 2022, the top exports of Russia to Ghana were Nitrogenous Fertilizers ($2.28M), Refined Petroleum ($286k), Mixed Mineral or Chemical Fertilizers ($234k), Shaving Products ($126k), and Potassic Fertilizers ($109k). In January 2022 the top imports of Russia from Ghana were Cocoa Paste ($3.66M), Cocoa Beans ($938k), Cocoa Powder ($845k), Veneer Sheets ($91.2k), and Sawn Wood ($58.8k).

Origins In January 2022 the exports of Russia were mainly from VOLOGDA REGION ($5.23M), TULA REGION ($1.46M), REPUBLIC OF KARELIA ($610k), VOLGOGRAD REGION ($568k), and STAVROPOL TERRITORY ($459k), while imports destinations were mainly MOSCOW REGION ($2.18M), VLADIMIR REGION ($1.39M), TOMSK REGION ($1.23M), KALININGRAD REGION ($738k), and PENZA REGION ($410k).

Growth In January 2022, the increase in Russia's year-by-year exports to Ghana was explained primarily by an increase in product exports in Nitrogenous Fertilizers ($596k or 35.4%). In January 2022, the increase in Russia's year-by-year imports  from Ghana was explained primarily by an increase in product imports  in Cocoa Paste ($1.86M or 103%), Cocoa Beans ($367k or 64.3%), and Veneer Sheets ($62.7k or 220%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2021 - January 2022)$5.76M(168%)
IMPORT GROWTH (January 2021 - January 2022)$1.34M(23.7%)
MAIN EXPORTER (January 2022)VOLOGDA REGION$5.23M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Ghana and Russia trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Ghana and Russia Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Russia exported $1.05B to Ghana. The main products exported from Russia to Ghana were Refined Petroleum ($956M), Processed Cereals ($49.9M), and Nitrogenous Fertilizers ($27.8M). During the last 5 years the exports of Russia to Ghana have increased at an annualized rate of 42.4%, from $179M in 2018 to $1.05B in 2023.

In 2018, Ghana exported $11M to Russia. The main products exported from Ghana to Russia were Other Oily Seeds ($9.56M), Other Pure Vegetable Oils ($983k), and Cocoa Paste ($201k). During the last 5 years the exports of Ghana to Russia have decreased at an annualized rate of 34.9%, from $93.7M in 2023 to $11M in 2018.

Exports from Russia (Flag) to Ghana (Flag) (2023)

Exports from Ghana (Flag) to Russia (Flag) (2023)

Market Competitiveness

Color
Russia
Top DestinationChina$129B
Ghana
Top DestinationSwitzerland$6.49B

This map shows whether countries import more from Russia or Ghana. Each country is colored based on the difference in imports they receive from Russia and Ghana or the difference in the growth in imports.

In 2023, countries that imported more from Russia than Ghana included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Ghana than Russia included Switzerland ($6.49B), South Africa ($1.85B), and Canada ($886M).

Difference in imports from Ghana (Flag) and Russia (Flag) (2023)

Comparative Advantage Russia - Ghana

Flow
Scale

This chart compares trade between Russia and Ghana by product, considering products traded by both, Russia and Ghana.

During 2023, Russia had a large net trade with Ghana in the exports of Mineral Products ($956M), Vegetable Products ($53.7M), and Chemical Products ($31.9M).

During 2018, Ghana had a large net trade with Russia in the exports of Vegetable Products ($9.63M), Animal and Vegetable Bi-Products ($983k), and Foodstuffs ($354k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Ghana+$9.24kRefined Petroleum
Top Product Potential Ghana Russia+$5.69kGold

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Russia and Ghana. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Ghana. Similarly, a dot/product with the flag of Ghana indicates it has a comparative advantage over Russia.

Product Space of Russia (Flag) and Ghana (Flag) (2023)

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