Explore Ghana's Top 10 Imports for 2024

In 2024, Ghana’s import profile was heavily influenced by key sectors such as fuel, machinery, and agriculture, with the ten leading imports comprising 33.4% of the country’s total imports, according to the most recent Trade Report from the Ghana Statistical Service (GSS).

The largest import by value was diesel (Automotive Gas Oil – AGO), primarily for the Tema Oil Refinery (TOR), totaling GH₵28.9 billion. This accounted for 11.6% of all imports. Following closely behind were light oils and motor spirit (super), which amounted to GH₵24.1 billion, representing 9.6% of total imports.

Other significant imports in 2024 included self-propelled bulldozers with 360° revolving superstructure, cement clinker, and used vehicles in the 1,500cc to 3,000cc range. Below is a comprehensive list of Ghana’s top 10 imports for 2024:

Diesel – Automotive Gas Oil (AGO) for TOR – GH₵28.93 billion (11.6%)
Light oils, motor spirit, super – GH₵24.12 billion (9.6%)
Self-propelled bulldozers with 360° revolving superstructure – GH₵6.20 billion (2.5%)
Cement clinker – GH₵4.83 billion (1.9%)
Used vehicles (1,500cc–3,000cc) – GH₵4.20 billion (1.7%)
Cereal grains, worked but not rolled or flaked – GH₵3.37 billion (1.3%)
Petroleum oils and oils obtained from bituminous minerals, crude – GH₵3.34 billion (1.3%)
Medium oils, Kerosene-type jet fuel (ATK) – GH₵3.16 billion (1.3%)
Guts, bladders, and stomachs of animals (excluding fish) – GH₵2.69 billion (1.1%)
Herbicides, anti-sprouting products, and plant-growth regulators – GH₵2.61 billion (1.0%)

Despite the notable import figures, Ghana’s export performance in 2024 painted a more optimistic picture. Total exports surged to GH₵294.9 billion, outpacing imports of GH₵250.2 billion, resulting in a GH₵44.7 billion trade surplus. This surplus reflects a marked improvement from the previous year, driven by strong export growth in sectors like gold, petroleum, and cocoa.

The 2024 Trade Report also emphasized Ghana’s growing trade engagement with African nations, especially through the African Continental Free Trade Area (AfCFTA). Exports to African countries nearly doubled compared to imports, signaling the country’s enhanced role in the continental trade framework.

In the final quarter of 2024, Ghana recorded a significant GH₵20.5 billion trade surplus, a notable increase from GH₵6.1 billion in the same period the previous year. Exports in Q4 2024 reached GH₵92.9 billion, while imports stood at GH₵72.4 billion.

While fuel products and industrial machinery continue to dominate the country’s imports, Ghana’s increasingly strong export performance points to a positive economic trajectory heading into 2025. The country’s ability to export more than it imports bodes well for its financial outlook, with export growth potentially offsetting the rising costs associated with importing essential goods.

The composition of Ghana’s imports in 2024 highlights the country’s reliance on key resources such as fuel and machinery, which are vital to maintaining domestic industries, infrastructure, and energy needs. As the nation seeks to diversify its economy, improvements in local production, particularly in agriculture and manufacturing, could help reduce the dependency on imported goods.

In conclusion, Ghana’s trade outlook in 2024 is characterized by a significant trade surplus, driven largely by exports. Despite the high import bill, especially for fuel and machinery, the country’s export growth provides a solid foundation for future economic stability. The increasing importance of intra-Africa trade, particularly under the AfCFTA framework, further bolsters Ghana’s economic position as it moves toward greater regional integration and trade diversification. As Ghana continues to navigate the complexities of global trade, the focus on bolstering domestic industries and export performance will be key to sustaining growth and ensuring long-term economic prosperity.