Ghana’s export earnings has lept to $11.15 billion in the first four months of 2026, supported by strong gold receipts that continue to reinforce the country’s external position despite rising import demand and renewed pressure from oil-related costs.
A fresh data from the Bank of Ghana’s May 2026 Summary of Economic and Financial Data show that total exports increased from $9.26 billion in April 2025 to $11.15 billion in April 2026, reflecting the continued strength of Ghana’s commodity export base.
The commodity remained the country’s dominant source of foreign exchange inflows, generating $6.86 billion by April 2026, up from $5.25 billion over the same period in 2025.
The performance was driven largely by elevated global bullion prices and sustained production from Ghana’s mining sector.
The data confirm gold’s growing is of importance to Ghana’s macroeconomic stability at a time when the country is seeking to rebuild foreign exchange buffers, support the cedi and strengthen reserve adequacy after the economic crisis of recent years.
However, Cocoa exports also stood at $1.86 billion by April 2026, compared with $1.85 billion a year earlier, showing relative stability in earnings despite volatility in international cocoa prices.
Oil exports increased to $1.28 billion, from $908.5 million in April 2025, while other exports rose to $1.15 billion.
These cash products’ performance assisted Ghana in maintaining a sizeable trade surplus even as imports increased and total imports rose to $5.87 billion by April 2026, compared with $5.06 billion in April 2025.
Oil imports also accounted for a significant portion of that increase, rising to $2.01 billion from $1.62 billion a year earlier while non-oil imports also increased to $3.86 billion, from $3.44 billion.
This suggests that stronger domestic activity may be translating into higher demand for imported goods, inputs and machinery.
The surplus highlights the extent to which gold is cushioning Ghana’s external accounts and easing pressure on the country’s balance of payments and foreign exchange market.
As recorded, the country’s external buffer position has also improved with gross International Reserves standing at $13.95 billion in April 2026, equivalent to 5.5 months of import cover.
The Central Bank of Ghana in its reported, stated that May 18, 2026, total Gross International Reserves have risen to $14.42 billion, with Net International Reserves recording $12.43 billion.
By: Martha Seyram Jackson | Metrotvonline.com | Ghana
