Ghana

The following section uses the most recent trade data from partners of Ghana, displaying Trade Value, which represents the total monetary value of traded goods during a period, reflecting the nominal worth of imports or exports.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

In 2023, Ghana exported a total of $27.1B, making it the number 71 exporter in the world.

During the last five reported years, the exports of Ghana have increased by $5.28B from $21.8B in 2018 to $27.1B in 2023.

The most recent exports are led by Gold ($15.6B), Crude Petroleum ($5.13B), Cocoa Beans ($1.09B), Manganese Ore ($501M), and Cocoa Paste ($440M).
The most common destination for the exports of Ghana are Switzerland ($6.49B), United Arab Emirates ($4.93B), India ($2.26B), South Africa ($1.85B), and China ($1.83B).

In 2023, the biggest growth of market partners of Ghana were China ($6.15B), Netherlands ($1.58B), India ($1.1B), United States ($1.05B), and Russia ($1.05B).

In 2023, the countries with the highest positive trade balances were China ($4.32B), Netherlands ($1.06B), Russia ($1.04B), Belgium ($567M), and Saudi Arabia ($259M) , while those with the lowest trade balances were United States (-$687M), India (-$1.16B), South Africa (-$1.45B), United Arab Emirates (-$4.21B), and Switzerland (-$6.25B).

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.

The current trade value is a solid color and the our predicted value is on a lined box, showing by default the top 3 countries which has the most potential exports, and the key markets where Ghana can enter.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

A fully colored node in the Product Space indicates that a country has a Revealed Comparative Advantage (RCA) greater than 1 for a specific product. This means the country is relatively more competitive in exporting that product compared to the global average. RCA is calculated by comparing the product’s share in the country’s total exports to its share in global exports.

During the last 20 years, Ghana's economy has become relatively less complex, moving from the 95 to the 107 position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.