Ghana’s total exports decline by 9% - Report

A report filed by Daily Guide has indicated that Ghana's exports declined by 9 percentage points.

It said the total exports recorded in August this year - US$10.76 billion - was lower than what was recorded in August 2022 - US$ 11.81 billion.

This led to a decline in total exports of about US$ 1 billion.

Meanwhile, gold remained the country's lead exporter with a hike in revenue of US$ 4.67 billion.

The exportation of cocoa, on the other hand, witnessed a sharp decline from US$ 1.61 billion to US$ 1.60 billion.

Oil exports also dropped significantly from US$ 3.82 billion to US$ 2.65 billion.

"In terms of the contribution of the trade surplus to Gross Domestic Product (GDP), it was however an improvement. The trade balance to GDP was 2.6 percent; higher than 2.1 percent in 2022," Daily Guide reported.

Also, both oil and non-oil imports fell.

SA/NOQ

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