Ghana’s gold boom pushes export earnings past $11 billion as reserves surge
Ghana’s export earnings climbed sharply to $11.1 billion in the first four months of 2025, as soaring global gold prices strengthened the country’s trade position and boosted foreign reserves.
Black News 
![Ghana’s export earnings surged to $11.1 billion in the first four months of 2025 as rising gold prices boosted trade surplus, foreign reserves, and bullion holdings. [Stock Photo/Getty Images]](https://ocdn.eu/pulscms/MDA_/1f5881637c824854458ca9b9604c0ce7.jpg)
Ghana’s export earnings climbed sharply to $11.1 billion in the first four months of 2025, as soaring global gold prices strengthened the country’s trade position and boosted foreign reserves.
- Ghana recorded $11.1 billion in export earnings between January and April 2025, driven largely by soaring gold prices.
- Gold exports alone generated $6.8 billion, reinforcing the country’s position as one of Africa’s top bullion exporters.
- Despite rising imports, Ghana posted a $5.2 billion trade surplus during the period.
- The country’s foreign reserves and gold holdings also increased, signalling stronger external sector performance.
New data released by the Bank of Ghana showed the country earned significantly more from exports between January and April compared to the $9.2 billion recorded during the same period in 2024.
Gold remained the driving force behind the surge, generating $6.8 billion in export revenue by April 2025, up from $5.2 billion a year earlier. The sharp increase highlights Ghana’s growing dependence on the precious metal at a time when global investors are increasingly turning to gold amid economic uncertainty and market volatility.
The latest figures reinforce Ghana’s position as one of Africa’s leading gold exporters and underline how rising commodity prices are helping stabilise parts of the country’s economy despite broader fiscal pressures.
Cocoa exports contributed $1.8 billion during the period, unchanged from last year, while crude oil exports generated $1.2 billion. Other exports accounted for an additional $1.1 billion.
At the same time, Ghana’s import bill rose to $5.8 billion between January and April 2025, up from $5 billion in the same period last year. Oil imports alone climbed to $2 billion from $1.6 billion in April 2024, reflecting higher energy-related costs and increased domestic demand.
Despite the rise in imports, Ghana still recorded a trade surplus of $5.2 billion, slightly above the $5 billion surplus posted a year earlier.
The data also showed Ghana’s international reserves increased to $14.4 billion in April 2025, up from $13.8 billion at the end of 2024. Meanwhile, the country’s gold reserves rose from 18.6 tonnes to 22.3 tonnes over the same period, further strengthening the central bank’s reserve position.
