Ghana’s pivotal change of government from the erstwhile profligate Nana Akufo-Addo administration to the much more fiscally restrained incumbent President John Dramani Mahama administration, coupled with favourable developments in the country’s key international commodity export markets have changed the exchange rate trajectory sharply.
But the main driver of the improved overall merchandise trade performance was the substantial 21.1% increase in Ghana’s exports last year to US$20,221.0 million, up from US$16,703 million in 2023. However this increase was entirely fuelled by a 53.2 % increase in gold exports from US$7,600.8 million in 2023 to US$11,641 million in 2024.
