Ghana\u2019s trade balance narrowed in the first four months of this year to 1.0% of Gross Domestic Product, as imports continued to surge, data from Bank of Ghana has revealed.<\/p>\n\n\n\n
However, the country continued to enjoy trade surplus since first achieving that in 2018.<\/p>\n\n\n\n
The trade balance that is the difference between exports and imports stood at $759 million in April 2021. Compared to same period last year, the trade balance was $1.0 billion, that is equivalent to 1.3% of GDP<\/p>\n\n\n\n
Total exports was estimated at $5.13 billion in the first four months of this year, whilst total imports including oil stood at $4.37 billion.<\/p>\n\n\n\n
For exports, the country earned $1.8 billion from gold, $1.2 billion from cocoa and $1.14 billion from oil respectively. Oil had witnessed growth in exports because of the increase in oil prices, which is hovering around $65 on the international market.<\/p>\n\n\n\n
Ghana\u2019s Gross International Reserves however hit $10.9 billion in April 2021, from $8.6 billion recorded in December 2020.<\/p>\n\n\n\n