Ghana’s trade surplus hits ($2.058bn) – up 16%

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Money, oil barrel and gold bars

Ghana's trade surplus has increased by 16%, reaching $2.058 billion, according to the latest data from the Bank of Ghana (BoG).

The trade balance grew by $310 million between July and October, representing a 2.7% share of the Gross Domestic Product (GDP).

The year-on-year analysis indicates a 10 percentage point increase from October 2022.

Total exports, currently at $13.45 billion, saw a 6.5% drop compared to October 2022.

Gold remains the leading contributor to exports, followed by crude oil and cocoa.

The balance of payments remained negative, with a deficit of $617.0 million as of September 30.

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