Figures from the Bank of Ghana have shown that Ghana’s total balance of trade recorded a surplus of 1.429 billion dollars as at June this year. This is equivalent to 3.1 percent of GDP.
The surplus is an improvement over the 1.4 billion dollars deficit recorded in the same period last year.
This has largely been attributed to the declining imports for the period under review.
The figures which summarize Ghana’s economic activities between June 2016 and the same period 2017 stated that Ghana’s total exports increased by 2 billion dollars to 7.159 billion dollars as at June 2017.
This was an increase from the 5.139 billion dollars recorded in the same period last year.
Speaking to 3FM BUSINESS, economist Courage Kingsley Martey says the stability enjoyed by the cedi was a major contributory factor to this feat.
“The cedis’ stability boosted investor confidence and there were a lot of inflows, leading to this increase. Going forward, the central bank should tighten its grips on stabilizing it”, he said
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