Ghana’s top export hub in Q2 2024 revealed

On September 26, 2024, 9:04 AM

The United Arab Emirates (UAE) continues to be Ghana’s leading export destination, with transactions reaching GH₵15.0 billion in the second quarter of 2024, according to data from the Ghana Statistical Service (GSS).

This highlights the strong trade relationship between the two countries.

According to the GSS, this accounts for 23.3% of Ghana’s total exports.

“Switzerland followed closely with exports valued at GH₵13.2 billion representing 20.5%, while South Africa ranked third, with exports amounting to GH₵8.3 billion (12.9%),” the data revealed.

A detailed breakdown of the information suggests that Ghana’s import market is dominated by gas oil, totalling GH₵7.3 billion, and motor spirit super, at GH₵7.2 billion. Together, these two products account for 24.7% of the total import value, which stands at GH₵58.8 billion.

China remains the largest source of Ghana’s imports, contributing GH₵12.3 billion, or 20.9% of the total imports. The UAE follows with GH₵9.1 billion, making up 15.4%, while the United Kingdom ranks third with imports valued at GH₵5.2 billion, representing 8.8%.

The Export and Import Unit Value Indices (UVIs) indicate notable price changes in key commodities.

“Export prices recorded a 40.5 per cent year-on-year increase, driven largely by surging gold prices while import prices increased by 18.9 per cent”.