Ghana bags US$5.13 billion from exports in first four months of 2021

Data from the Bank of Ghana shows that the country’s trade balance narrowed in the first four months of this year to 1.0% of Gross Domestic Product, as imports continued to surge.

Per the data released, the trade balance stood at US$759 million in April 2021 as compared to the same period in 2020, which was US$1.0 billion, equivalent to 1.3% of GDP

The trade balance is the difference between exports and imports.

Total exports were estimated at US$5.13 billion in the first four months of this year, whilst total imports, including oil, stood at US$4.37 billion.

Ghana earned US$1.8 billion from gold, US$1.2 billion from cocoa and $1.14 billion from oil respectively from exports.

Meanwhile, Ghana’s Gross International Reserves moved to US$10.9 billion in April 2021, from US$8.6 billion recorded in December 2020.