Ghana (GHA) and Russia (RUS) Trade | The Observatory of Economic Complexity

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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.

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.

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, 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 2018 to $11M in 2023.

In 2018, 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 2023 to $1.05B in 2018.

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

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

Latest Data

Trade between Ghana () and Russia ()

Ghana Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Ghana
Top DestinationSwitzerland$6.49B

Russia
Top DestinationChina$129B

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

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

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

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

Comparative Advantage Ghana - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, 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).

During 2018, Russia had a large net trade with Ghana in the exports of Mineral Products ($956M), Vegetable Products ($53.7M), and Chemical Products ($31.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Ghana Russia+$5.69kGold

Top Product Potential Russia Ghana+$9.24kRefined Petroleum

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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Bilateral Service Trade

Rus Year

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.

Service trade data is presented based on availability.

Services Exports from Russia () to Ghana () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Ghana () and Russia ()

Ghana Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Ghana - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Ghana () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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