Ghana Trade Surplus Narrows on Smaller Cocoa and Oil Exports

Ghana’s trade surplus narrowed last year as revenue from cocoa and oil shipments declined.

The West African nation’s favorable trade balance shrank 10% to $2.6 billion in 2023, the Bank of Ghana said in a summary of economic and financial data. Total exports decreased 5% to $16.6 billion, driven by an 8.7% drop in cocoa income and 30% slide in revenue from oil shipments, the central bank said.