Ghana recorded a trade surplus of GH¢5.4 billion in the second quarter of 2024, according to the latest figures from the Ghana Statistical Service.

The country’s total trade value for the period reached GH¢123.0 billion, with exports totalling GH¢64.2 billion and imports standing at GH¢58.8 billion.

This marks a significant turnaround from the GH¢3.1 billion trade deficit recorded in the same quarter of 2023.

In US dollar terms, Ghana’s total trade amounted to $9.0 billion.

However, the surplus represents a decline from the GH¢11.5 billion surplus achieved in the first quarter of 2024.

Gold dominated Ghana’s export earnings, contributing GH¢37.0 billion, or 57.6% of total exports. Crude petroleum was the second-largest export, accounting for GH¢12.6 billion, while cashew nuts added GH¢1.2 billion to the country's export revenues.

The second quarter’s GH¢5.4 billion surplus highlights a positive shift in Ghana’s trade balance, but the reduction from the first quarter’s surplus indicates ongoing challenges in the broader economic landscape.