Ghana’s Import Landscape in 2024: Surprising Entries and Trade Surplus

The Ghana Statistical Service’s report shows that Ghana’s top imports for 2024 consist mainly of fuel and machinery, including surprising entries like used vehicles and animal guts. The trade surplus remains robust, underscoring strong export performance in gold, petroleum, and cocoa.

According to the Ghana Statistical Service (GSS) Trade Report, Ghana’s top imports for 2024 predominantly consist of fuel, machinery, and agricultural products. However, an intriguing entry included in the list is the import of animal guts, bladders, and stomachs, which emphasizes the country’s diverse trade needs.

The report identifies used vehicles, specifically those between 1,500cc to 3,000cc, as the fifth most imported item, valued at GH₵4.2 billion, approximately 1.7% of the total imports. In contrast, animal guts ranked in the top 10, with an import value of GH₵2.69 billion, accounting for about 1.1% of imports.

At the top of the import list was diesel, specifically Automotive Gas Oil (AGO), intended for the Tema Oil Refinery, which alone represented GH₵28.9 billion or 11.6% of the total imports. This was followed by light oils and motor spirit valued at GH₵24.1 billion, approximately 9.6% of imports. Other significant imports included bulldozers, cement clinker, and herbicides.

Despite a notable import expenditure, Ghana maintained a trade surplus of GH₵44.7 billion, with total exports amounting to GH₵294.9 billion, surpassing imports of GH₵250.2 billion. This positive trade balance was largely bolstered by robust export performances in gold, petroleum, and cocoa.

As Ghana heads into 2025, the prominence of fuel and industrial equipment in its imports is clear, while the inclusion of used vehicles and animal products reflects the evolving demands of its market.

In summary, Ghana’s import landscape for 2024 is characterized by significant expenditures on fuel and industrial machinery, alongside unexpected entries like animal organs and used vehicles. The country’s trade still demonstrates a favorable balance, propelled by strong export sectors. The diverse range of imports highlights the dynamic nature of Ghana’s economic activities as it approaches 2025.

Original Source: 3news.com