China dominates Ghana’s imports in 2023 with GHC 33.9B value

In 2023, China solidified its position as the leading source of Ghana’s imports, with the total import value reaching GHC 33.9 billion, a notable increase from GHC 26.4 billion in 2022.

This data, sourced from the Ghana 2023 Trade Report by the Ghana Statistical Service, highlights the continued importance of China in Ghana's trade landscape.

The report indicates that China accounted for 22.5% of Ghana’s total imports in 2023, showing a slight decrease from the 23.2% share recorded in the previous year. Despite this marginal decline, China's dominance in Ghana’s import sector remains strong.

A significant development in 2023 was the emergence of the Russian Federation as a key import source, supplanting the United Kingdom in the top five. This shift was primarily driven by imports of mineral fuels and oils from Russia.

The Netherlands continued to play a crucial role in Ghana's import economy, with Ghana importing mineral fuels and oils worth GHC 17.3 billion from the Dutch nation. Additionally, the rankings saw a swap between India and the United States, with India becoming the fourth-largest import source at GHC 11.7 billion, while the USA followed closely with GHC 10.9 billion.

Overall, ten key products accounted for over a third of all imports into Ghana. The highest import value was for diesel-automotive gas oil, which amounted to GHC 27.1 billion, followed by light oils, motor spirit, and super at GHC 22.3 billion.

In terms of transportation modes for imported goods last year, sea transport dominated with 89.1% of the total import value, road transport accounted for 6.1%, and air transport represented the smallest share at 4.7%.

These figures underscore the pivotal role that China and other emerging trade partners play in Ghana’s import economy, reflecting shifting trends and the dynamic nature of international trade relationships.

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