The GSS Trade Report for 2024 identifies fossil fuels, machinery, and surprising imports like animal by-products and used vehicles as prominent items in Ghana’s import list. Diesel ranks highest at GH₵28.9 billion. The country enjoys a trade surplus of GH₵44.7 billion fueled by strong gold, petroleum, and cocoa exports.
According to the latest Ghana Statistical Service (GSS) Trade Report, Ghana’s imports for 2024 are characterized by a variety of products including fuel, machinery, and agricultural items. Notably, the report indicates an unexpected entry of animal by-products such as guts, bladders, and stomachs among the top ten imports. Additionally, used vehicles in the range of 1,500cc to 3,000cc have emerged as the fifth most imported item, valued at GH₵4.2 billion, constituting 1.7% of total imports.
The foremost import was diesel, specifically Automotive Gas Oil (AGO) designated for the Tema Oil Refinery (TOR), totaling GH₵28.9 billion or 11.6% of total imports. This was closely followed by light oils and motor spirit (super), valued at GH₵24.1 billion (9.6%). Other significant imports included bulldozers, cement clinker, and herbicides, showcasing the need for various industrial and agricultural inputs in Ghana.
Despite the considerable costs associated with imports, Ghana reported a trade surplus of GH₵44.7 billion, with total exports reaching GH₵294.9 billion, thereby exceeding imports of GH₵250.2 billion. This favorable trade balance is primarily attributed to robust exports of gold, petroleum, and cocoa, underscoring the strength of these sectors in Ghana’s economy.
The diversity in imports, particularly the presence of animal intestines and used vehicles, illustrates the dynamic trade requirements of Ghana as it approaches 2025. The following summarizes Ghana’s top 10 imports for 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 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%).
In summary, Ghana’s trade dynamics in 2024 reveal a diverse range of imports, with diesel leading significantly. The inclusion of used vehicles and animal by-products indicates evolving consumer and industrial demands. Despite high imports, the country maintains a substantial trade surplus primarily due to strong performance in key export sectors such as gold, petroleum, and cocoa. This indicates a resilient economic structure as Ghana progresses toward 2025.
Original Source: 3news.com
