UAE accounts for 40 percent of Ghana’s total gold exports in Q3 2024
Date
12/15/2024 3:38:26 AM
(MENAFN) The UAE has emerged as the leading importer of Ghanaian gold, accounting for 40 percent of Ghana’s total Gold exports between July and September 2024, according to data from the Ghana Statistical Service. Switzerland followed with a 30.1 percent share, South Africa with 22.2 percent, and India with 6.8 percent. Together, these four countries represented 99.2 percent of Ghana’s gold export market during this period.
In other trade sectors, China accounted for nearly a third (29.8 percent) of Ghana’s exports of minerals and oil, while the Netherlands received 22.2 percent of Ghana’s cocoa exports. Vietnam was the primary destination for Ghanaian vegetable products, receiving 17 percent of these exports. These figures highlight Ghana’s diverse export partners and the specialization of certain countries in specific product categories.
China also dominated as the leading export destination for five out of ten major Ghanaian product categories, showcasing its significant trade relationship with the country. On the import side, the UK ranked as the top supplier of fuels and lubricants to Ghana, followed by the UAE, indicating the importance of these two partners in supporting Ghana’s energy sector.
Raw gold remained Ghana’s top export, with a value of USD3 billion in the third quarter of 2024, far surpassing other commodities. Crude oil was the second-largest export, valued at USD790 million. This stark contrast underscores the dominance of gold in Ghana’s export portfolio and its critical role in the country’s economy.
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