Ghana’s Trade Gap Widened in First Half as Gold Exports Jump
- Revenue from cocoa exports fall 48% in first six months
- Cocoa revenue drop weighing on cedi performance to dollar
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Ghana’s trade surplus widened in the first half as an increase in revenue from gold exports limited the impact of a plunge in cocoa income.
The favorable trade gap grew 12.5% from a year ago to $1.8 billion, Bank of Ghana said in a summary of economic and financial data on its website. Total exports increased 13.6% to $9.2 billion, spurred by a 47% surge in revenue from gold shipments to $5 billion. Total imports rose to $7.4 billion from $6.5 billion.