LIST: See Ghana’s top 10 imports in 2024

Ghana’s import landscape in 2024 was dominated by fuel, machinery, and agricultural products, with ten key commodities accounting for 33.4 percent of total imports, according to the latest Ghana Statistical Service (GSS) Trade Report.

The highest-value import was Diesel (Automotive Gas Oil – AGO) for the Tema Oil Refinery (TOR), amounting to GH₵28.9 billion and constituting 11.6 percent of total imports.

It was closely followed by light oils and motor spirit (super), which stood at GH₵24.1 billion, or 9.6 percent.

Other notable imports included self-propelled bulldozers, cement clinker, and used vehicles (1,500cc–3,000cc).

Breakdown of Ghana’s top 10 imports in 2024

1. Diesel – Automotive Gas Oil (AGO) for TOR – GH₵28.93 billion (11.6%)
2. Light oils, motor spirit, super – GH₵24.12 billion (9.6%)
3. Self-propelled bulldozers with 360° revolving superstructure – GH₵6.20 billion (2.5%)
4. Cement clinker – GH₵4.83 billion (1.9%)
5. Used vehicles (1,500cc–3,000cc) – GH₵4.20 billion (1.7%)
6. Cereal grains, worked but not rolled or flaked – GH₵3.37 billion (1.3%)
7. Petroleum oils and oils obtained from bituminous minerals, crude – GH₵3.34 billion (1.3%)
8. Medium oils, Kerosene-type jet fuel (ATK) – GH₵3.16 billion (1.3%)
9. Guts, bladders, and stomachs of animals (excluding fish) – GH₵2.69 billion (1.1%)
10. Herbicides, anti-sprouting products, and plant-growth regulators – GH₵2.61 billion (1.0%)

Ghana’s trade surplus strengthens economic outlook

Despite the high import bill, Ghana’s total exports soared to GH₵294.9 billion, surpassing imports of GH₵250.2 billion and resulting in a GH₵44.7 billion trade surplus. This marks a significant improvement from the previous year, driven by strong performances in gold, petroleum, and cocoa exports.

The 2024 Annual Trade Report also highlights Ghana’s increasing trade activity with African nations, with exports to the continent nearly doubling compared to imports. Experts attribute this to Ghana’s strategic role in the African Continental Free Trade Area (AfCFTA).

In the final quarter of 2024, Ghana recorded a GH₵20.5 billion trade surplus, up from GH₵6.1 billion in Q4 2023, as exports hit GH₵92.9 billion against imports of GH₵72.4 billion.

While fuel and industrial machinery continue to dominate Ghana’s import list, the nation’s growing export strength signals a positive economic trajectory heading into 2025.

Source: graphic.com.gh