Ghana’s economy has seen a positive start to the year 2023, with the country recording a trade surplus of $752.8 million in the first two months of the year. According to recent data from the Bank of Ghana, this is about a 1.0% increase in Ghana’s Gross Domestic Product.
This surplus marks a significant improvement compared to the same period in 2022 when Ghana recorded a trade deficit of $439.6 million.
The positive trade balance was driven by a rise in exports, particularly of gold, cocoa, and oil. According to the Ghana Export Promotion Authority, the country’s non-traditional exports also increased by 10.5% during the period.
The government’s efforts to diversify the economy by promoting non-traditional exports and boosting local manufacturing are starting to pay off. This positive economic performance is a promising sign for the country’s overall economic growth in the coming months.
The government has stated that it will continue to prioritize initiatives aimed at promoting exports, improving the business environment, and encouraging investment in key sectors of the economy. With the current positive momentum, Ghana is well-positioned to attract foreign investment and boost economic growth.
