Ghana2021 Economic Complexity : -1.27, Rank 118 of 131
2021 Product Exports | Imports: $14.1B | $20.2B, 84 of 226 | 83 of 226
2021 Per Capita Product Exports | Imports: $444 | $638, 164 of 219 | 171 of 219
2019 Service Exports | Imports : $9.38B | $13.2B, 56 of 108 | 46 of 108
Overview In 2021, Ghana was the number 67 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 83 in total imports, the number 135 economy in terms of GDP per capita (current US$) and the number 118 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Ghana are Gold ($5.29B), Crude Petroleum ($3.57B), Cocoa Beans ($1.51B), Cocoa Paste ($477M), and Coconuts, Brazil Nuts, and Cashews ($477M), exporting mostly to Switzerland ($2.44B), United Arab Emirates ($1.73B), United States ($1.56B), India ($1.53B), and China ($1.27B).
Imports The top imports of Ghana are Refined Petroleum ($1B), Cars ($629M), Rice ($552M), Delivery Trucks ($474M), and Coated Flat-Rolled Iron ($422M), importing mostly from China ($8.1B), India ($1.1B), Netherlands ($1.04B), United States ($949M), and United Arab Emirates ($826M).
In 2021, Ghana was the world's biggest importer of Used Clothing ($214M)
Location Ghana borders Burkina Faso, Cote d'Ivoire, and Togo by land and Benin and Nigeria by sea.
The following section uses the most recent trade data from partners of Ghana.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Gold, $5.29B
Top Destination (2021): Switzerland, $2.44B
In 2021, Ghana exported a total of $14.1B, making it the number 84 exporter in the world. During the last five reported years the exports of Ghana have changed by -$2.1B from $16.2B in 2016 to $14.1B in 2021.
The most recent exports are led by Gold ($5.29B), Crude Petroleum ($3.57B), Cocoa Beans ($1.51B), Cocoa Paste ($477M), and Coconuts, Brazil Nuts, and Cashews ($477M). The most common destination for the exports of Ghana are Switzerland ($2.44B), United Arab Emirates ($1.73B), United States ($1.56B), India ($1.53B), and China ($1.27B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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).
Ghana has a high level of specialization in Cocoa Beans (235), Cocoa Paste (173), Cocoa Butter (88), Coconuts, Brazil Nuts, and Cashews (71.7), and Manganese Ore (66.6). Specialization is measured using RCA, an index that takes the ratio between Ghana observed and expected exports in each product.
The highest complexity exports of Ghana according to the product complexity index (PCI) are Garden Tools (0.19), Sculptures (-0.52), Detonating Fuses (-0.59), Quicklime (-0.6), and Veneer Sheets (-0.61). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Ghana according to the relatedness index, were Tin Ores (0.1), Crustaceans (0.091), Non-fillet Frozen Fish (0.087), Insect Resins (0.087), and Raw Cotton (0.087). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Ghana's economy has become relatively less complex, moving from the nullth to the 118th 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.
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