Ghana’s External Sector Outlook Remains Favourable…Bank of Ghana
Story By: Akua Oteng Amponsah
Ghana’s external sector outlook is expected to remain favourable, driven by anticipated increases in gold and cocoa export receipts, as well as remittance inflows.
According to the Bank of Ghana’s Monetary Policy Report, the external sector has continued to perform well, with a record provisional current account surplus of $2.1 billion in the first quarter of 2025.
The surplus was largely driven by higher prices, increased production volumes of gold and cocoa, and strong remittance inflows.
The current account surplus, combined with net outflows in the capital and financial account, resulted in an overall Balance of Payments surplus of $1.1 billion.
Ghana’s Gross International Reserves (GIR) have also seen significant growth, reaching $10.7 billion in April 2025. This is equivalent to 4.7 months of import cover for goods and services.
The favourable external sector outlook and reserve accumulation are positive indicators for Ghana’s economy, suggesting a stable macroeconomic environment.
