Ghana earns less from exports in first seven months of 2015

Ghana has earned less than expected revenue from exports in the first seven months of 2015, according to the Bank of Ghana.

The Bank said today that export receipts have been impacted by lower commodity prices, mainly gold and oil.

“For the first seven months of 2015, merchandise export receipts amounted to $6.3 billion down from $8.1 billion in the same period last year. Merchandise imports also amounted to $7.8 billion, from $8.4 billion in the corresponding period in 2014, leading to a worsening in the trade deficit,” it added.

However, the Bank noted that the current account deficit improved as a result of favourable movements in the Services and Income accounts.

By Emmanuel K. Dogbevi