Gold export prices in Ghana rose sharply in the first quarter of 2026, recording a 24.7% increase compared with the same period in 2025.
The Ghana Statistical Service (GSS) says the increase was the biggest factor shaping Ghana’s overall export price performance during the quarter, reflecting the continued dominance of gold in the country’s export basket.
The GSS’s Export Unit Value Index shows that gold prices increased by 15.1% between the fourth quarter of 2025 and the first quarter of 2026.
Overall, Ghana’s export prices increased by 5.0% year-on-year and 8.5% quarter-on-quarter in Q1 2026.
The export Unit Value Index stood at 392.6 in the first quarter, using Q1 2021 as the base period.
The GSS said the overall export index was influenced above all by gold, given its dominant position in Ghana’s export basket.
Gold bullion exports were valued at GH¢63.7 billion in Q1 2026, representing 57.7% of Ghana’s total exports.
However, the Service noted that gold’s share of total exports declined from 67.5% in Q4 2025 to 57.7% in Q1 2026.
While export prices increased, import prices moved in the opposite direction.
The import Unit Value Index stood at 187.3 in Q1 2026, representing a 26.6% decline year-on-year and a 3.2% decline quarter-on-quarter.
The GSS said import prices declined year-on-year across every major product classification included in its analysis.
The divergent movements in export and import prices contributed to a significant difference between Ghana’s nominal and real trade performance during the quarter.
In nominal terms, Ghana recorded a trade surplus of GH¢46.1 billion, but after accounting for price effects, the country recorded a real trade deficit.
The GSS said the Unit Value Indices help separate changes in the value of goods traded from changes resulting from movements in their prices.
