The findings reveal that a handful of countries play pivotal roles in both Ghana's exports and imports.
According to the report, four nations—Switzerland, China, Canada, and South Africa—account for more than half of all Ghana's exports. On the import side, six countries contribute to roughly half of the total imports.
A deeper dive into the export landscape underscores the concentration of Ghana's trade. The report underscores that over two-thirds of all exports originate from just two products: gold bullion and crude petroleum oil.
Meanwhile, imports are fueled by around 126 commodities, collectively forming the majority of imports.
Professor Samuel Kobina Annim, the Government Statistician, emphasizes the significance of this data for policy-makers, economists, and stakeholders. These insights provide a foundation for informed decisions that can foster a more balanced and resilient trade environment in the future.
Ghana's primary export items have been identified as gold (37.5%), mineral fuels and oils (30.6%), and cocoa beans and products (12.4%), which collectively constitute more than 80.0 percent of all exports.
Mineral fuels and oils dominate the import landscape, accounting for 26.8% of total imports. Machinery and electrical equipment follow at 13.3%, with chemical products contributing 10.7% to the import spectrum.
In terms of trading partners, the report highlights that Europe remains a significant player for Ghana, representing more than a third of both exports (35.9%) and imports (39.2%).
Following closely, Asia contributes 28.5 percent of all exports and 37.2 percent of imports, showcasing the diverse trade relationships that Ghana maintains.
These insights gleaned from the Trade Vulnerability Report underscore the importance of diversifying trade partners and commodities to enhance Ghana's economic resilience and sustainability on the global stage.