Trade between Ghana and US reaches $3.7b in 2022

Trade between Ghana and the United States (US) has recorded an all-time high of $3.7 billion in 2022, according to information shared by the US Embassy in Ghana. The US is Ghana’s fourth largest export market.

Ghana exports to the US in 2022 amounted to $2.7 billion and the main exports from Ghana include crude oil, cocoa (bean, paste, and butter), apparel, rubber, and cassava.

Ghana imports from the US in 2022 amounted to $1 billion, and the major imports include cars, machinery, paper products, plastics, medical devices, fertilizers, and agricultural goods.

Ghana’s trade surplus with the US in 2022 was $1.8 billion, while trade in services is also growing strong, the information said.

It also indicated that in that same year, US bilateral assistance to Ghana was over $150 million; and that went into financing health, economic growth, agriculture, education, human rights, governance, and security. 

The US government in 2022 provided over $32 million in agricultural assistance to Ghana. 

It stated that more recently, the US Development Finance Corporation announced new support for $25 million in financing for micro, small, and medium sized enterprises in the agricultural sector in Northern Ghana.

“Supporting digital economic development, the United States recently announced a $300 million investment in data centers in Africa, including Ghana,” it added.

Ghana registered a total of $421 million in foreign direct investment (FDI) from the US in 2021.