Overview In 2019 Ghana was the number 73 economy in the world in terms of GDP (current US$), the number 72 in total exports, the number 81 in total imports, the number 141 economy in terms of GDP per capita (current US$) and the number 133 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Ghana are Gold ($10.8B), Crude Petroleum ($4.68B), Cocoa Beans ($1.61B), Cocoa Paste ($504M), and Manganese Ore ($489M), exporting mostly to Switzerland ($4.92B), India ($3.62B), China ($2.67B), United Arab Emirates ($1.83B), and South Africa ($1.72B).

Imports The top imports of Ghana are Flexible Metal Tubing ($2.11B), Scrap Vessels ($1.03B), Special Purpose Ships ($655M), Cars ($496M), and Refined Petroleum ($471M), importing mostly from China ($4.35B), Nigeria ($4.04B), United States ($924M), United Kingdom ($757M), and India ($637M).

In 2019, Ghana was the world's biggest importer of Flexible Metal Tubing ($2.11B), Scrap Vessels ($1.03B), and Railroad Ties ($193M)

Location Ghana borders Burkina Faso, Cote d'Ivoire, and Togo by land and Benin and Nigeria by sea.

Historical Data

#permalink to section

Yearly Exports

#permalink to section
Value
Compare to
Depth

Top Export (2019): Gold, $10.8B

Top Destination (2019): Switzerland, $4.92B

In 2019, Ghana exported a total of $21.7B, making it the number 72 exporter in the world. During the last five reported years the exports of Ghana have changed by $4.25B from $17.5B in 2014 to $21.7B in 2019.

The most recent exports are led by Gold ($10.8B), Crude Petroleum ($4.68B), Cocoa Beans ($1.61B), Cocoa Paste ($504M), and Manganese Ore ($489M). The most common destination for the exports of Ghana are Switzerland ($4.92B), India ($3.62B), China ($2.67B), United Arab Emirates ($1.83B), and South Africa ($1.72B).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Compare to
Depth

Top Import (2019): Flexible Metal Tubing, $2.11B

Top Origin (2019): China, $4.35B

In 2019 Ghana imported $18.4B, making it the number 81 trade destination in the world. During the last five reported years the imports of Ghana changed by -$238M from $18.7B in 2014 to $18.4B in 2019.

The most recent imports of Ghana are led by Flexible Metal Tubing ($2.11B), Scrap Vessels ($1.03B), Special Purpose Ships ($655M), Cars ($496M), and Refined Petroleum ($471M). The most common import partners for Ghana are China ($4.35B), Nigeria ($4.04B), United States ($924M), United Kingdom ($757M), and India ($637M).

Explore Visualizations

Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Ghana Exports Services (2019): $9.38B

Ghana Imports Services (2019): $13.2B

In 2019, Ghana exported $9.38B worth of services. The top services exported by Ghana in 2019 were Other business services ($6.45B), Business travel ($998M), Transportation ($501M), Personal travel ($428M), and Construction services ($426M).

The top services imported by Ghana in 2019 were Other business services ($7.09B), Government services, n.i.e. ($2.55B), Transportation ($2.35B), Construction services ($310M), and Business travel ($229M).

Tariffs by Product

#permalink to section

The top product import tariffs by their MFN Ad Valorem value for Ghana are Birds' eggs, in shell: fresh, not for incubation, of fowls of the species Gallus domesticus (domestic hens) (35%) and Birds' eggs, in shell: fresh, not for incubation, other than fowls of the species Gallus domesticus (domestic hens) (35%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Ghana are:
136: Most Favoured Nation duty rate treatement
204: Preferential tariff for Economic Community of West African States (ECOWAS)

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Ghana has a high level of specialization in Cocoa Beans (140), Cocoa Paste (125), Manganese Ore (53.2), Cocoa Butter (49), and Coconuts, Brazil Nuts, and Cashews (34.3). Specialization is measured using RCA, an index that takes the ratio between Ghana observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Ghana according to the product complexity index (PCI) are Stainless steel in primary forms, semi-finish products (1.24), Precious metal colloids, compounds and amalgams (0.55), Plastic tube, pipe, hose and fittings (0.021), Containers, bobbins and packages, of plastics (-0.11), and Hand tools for agriculture, horticulture, forestry (-0.25). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Ghana according to the relatedness index, are Maté (0.096), Crustaceans (0.094), Perfume Plants (0.091), Coconut Oil (0.091), and Raw Sugar (0.09). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Ghana is not specialized in.

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 it is currently specialized in.

Relatedness Space

#permalink to section

This network shows the products most related to the production structure of Ghana. These are products that tend to be co-exported with the products that Ghana exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Ghana's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨91st to the 133rd⁩ 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.

Explore Rankings