A report by the UK’s Department for Business & Trade released in June this year reveals that the total trade in goods and services (exports plus imports) between the UK and Ghana was £1.5 billion in 2024, a decrease of 6.5%, or £107 million in current prices, from the four quarters to the end of Q4 2023.

At the end of 2024, total UK exports to Ghana amounted to £747 million (an increase of 4.9% or £35 million in current prices, compared to the four quarters to the end of Q4 2023).

Of all UK exports to Ghana in the four quarters to the end of Q4 2024, £435 million (58.2%) were goods and £312 million (41.8%) were services.

UK exports of goods to Ghana increased by 11.8% or £46 million in current prices, compared to the four quarters to the end of Q4 2023 while UK exports of services to Ghana decreased by 3.4% or £11 million in current prices, compared to the four quarters to the end of Q4 2023.

Total UK imports from Ghana were £793 million (a decrease of 15.2% or £142 million in current prices, compared to the four quarters to the end of Q4 2023).

Of all UK imports from Ghana in the four quarters to the end of Q4 2024, £196 million (24.7%) were goods and £597 million (75.3%) were services.

In the same period, UK imports of goods from Ghana decreased by 32.2% or £93 million in current prices, compared to the four quarters to the end of Q4 2023, while UK imports of services from Ghana decreased by 7.6% or £49 million in current prices, compared to the four quarters to the end of Q4 2023.

This means the UK reported a total trade deficit of £46 million with Ghana, compared to a trade deficit of £223 million in the four quarters to the end of Q4 2023.

The UK had a trade in goods surplus of £239 million with Ghana, compared to a trade in goods surplus of £100 million in the four quarters to the end of Q4 2023.

Meanwhile, the UK reported a trade in services deficit of £285 million with Ghana, compared to a trade in services deficit of £323 million in the four quarters to the end of Q4 2023.

Ghana ranked as the United Kingdom’s 80th largest trading partner, accounting for 0.1% of total UK trade. It was the UK’s 78th largest goods trading partner and the 71st largest services trading partner, both also representing 0.1% of trade in their respective categories.

Ghana was the UK’s 78th largest export market, contributing 0.1% of total UK exports. Specifically, it ranked 64th for goods exports and 83rd for services exports, both making up 0.1% of their respective totals.

On the import side, Ghana was the UK’s 79th largest import market, also accounting for 0.1% of total imports. It was joint 83rd for goods imports, with a share of less than 0.1%, and 62nd for services imports, which made up 0.2% of UK services imports.

Outgoing United Kingdom (UK) High Commissioner to Ghana, Harriet Thompson, has emphasized the UK's commitment to strengthening a lasting relationship with Ghana.

“Our ambition is to increase the UK-Ghana economic partnership. So partly that is about trade, and it’s very much in two directions. I’m very pleased to say that even after the difficult economic issues we have all seen around the world since the pandemic, the UK-Ghana trade partnership has grown, and that stands at £1.5 billion,” she said during a media engagement on July 16.