Ghana’s economy recorded a strong trade surplus in the first two months of 2025, significantly boosting the country’s foreign reserves, according to Bank of Ghana Governor Johnson Asiama.
Speaking at a press briefing on March 28, 2025, following the 123rd Monetary Policy Committee (MPC) meeting, Dr. Asiama highlighted that Ghana’s total exports surged by 50% year-on-year to $4.3 billion, primarily driven by higher gold and cocoa export earnings. However, crude oil exports declined due to lower production from the country’s three oil fields.
Despite a 7.3% increase in total imports, which reached $2.7 billion, the trade surplus contributed to a rise in Gross International Reserves. By the end of February 2025, Ghana’s reserves stood at $9.4 billion, covering 4.2 months of imports—up from $5.9 billion in December 2024.
The Governor attributed the positive external sector outlook to Ghana’s Gold-for-Reserves programme, growing remittance inflows, and ongoing policy reforms under the IMF programme. He expressed confidence that continued reserve accumulation would help stabilize the local currency in the months ahead.
