Ghana2020 Economic Complexity : -1.32, Rank 120 of 127
2020 Product Exports | Imports: $13.1B | $16.1B, 80 of 226 | 83 of 226
2020 Per Capita Product Exports | Imports: $423 | $517, 161 of 219 | 170 of 219
2019 Service Exports | Imports : $9.38B | $13.2B, 33 of 76 | 30 of 76
Overview In 2020 Ghana was the number 73 economy in the world in terms of GDP (current US$), the number 80 in total exports, the number 83 in total imports, the number 146 economy in terms of GDP per capita (current US$) and the number 120 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Ghana are Gold ($5.93B), Crude Petroleum ($2.71B), Cocoa Beans ($1.28B), Cocoa Paste ($414M), and Coconuts, Brazil Nuts, and Cashews ($361M), exporting mostly to Switzerland ($3.07B), United Arab Emirates ($1.64B), China ($1.52B), India ($1.18B), and Netherlands ($697M).
Imports The top imports of Ghana are Refined Petroleum ($669M), Cars ($492M), Rice ($391M), Delivery Trucks ($283M), and Coated Flat-Rolled Iron ($273M), importing mostly from China ($6.75B), Netherlands ($867M), United States ($787M), India ($749M), and United Arab Emirates ($522M).
In 2020, Ghana was the world's biggest importer of Used Clothing ($182M)
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.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Gold, $5.93B
Top Destination (2020): Switzerland, $6.75B
In 2020, Ghana exported a total of $13.1B, making it the number 80 exporter in the world. During the last five reported years the exports of Ghana have changed by -$1.6B from $14.8B in 2015 to $13.1B in 2020.
The most recent exports are led by Gold ($5.93B), Crude Petroleum ($2.71B), Cocoa Beans ($1.28B), Cocoa Paste ($414M), and Coconuts, Brazil Nuts, and Cashews ($361M). The most common destination for the exports of Ghana are Switzerland ($3.07B), United Arab Emirates ($1.64B), China ($1.52B), India ($1.18B), and Netherlands ($697M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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 (191), Cocoa Paste (144), Cocoa Butter (69.9), Coconuts, Brazil Nuts, and Cashews (53.5), and Cocoa Powder (49.4). 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 Ignition or starting equipment; used for spark-ignition or compression-ignition internal combustion engines; generators and cut outs used in conjunction with such engines (0.44), Fermented beverages, n.e.c. in chapter 22; (e.g. cider, perry, mead, sake) (0.19), Tools, hand; spades, shovels, mattocks, picks, hoes, forks, rakes; axes, bill hooks etc; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge shears, timber wedges and other tools used in agriculture, horticulture, forestry (0.17), Tubes, pipes and hoses and fittings thereof (for example, joints, elbows, flanges), of plastics (-0.11), and Sculptures and statuary; original, in any material (-0.28). 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, are Petroleum Gas (0.087), Raw Cotton (0.085), Raw Sugar (0.084), Niobium, Tantalum, Vanadium and Zirconium Ore (0.083), and Crustaceans (0.082). 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 21 years Ghana's economy has become relatively less complex, moving from the 84th to the 120th 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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