Ghana's $8.7bn Trade Gap with China Is a Structural Problem, Not a Statistical One ‎

Ghana ran a trade deficit of US$8.71 billion with China in 2025, according to the Graphic Business front page of 19 October 2026, which cites UN Comtrade data published by Trading Economics. China sold Ghana about US$11.45 billion in goods while buying roughly US$2.74 billion, which works out to US$4.18 of Chinese goods for every US$1 Ghana sold in return.

The numbers show a lopsided structure. Ghana exports crude petroleum, manganese ore and aluminium ore to China, while China sends machinery, electronics, steel products, vehicles, plastics, footwear and clothing. Ghana is selling raw materials and buying finished goods, which means it exports jobs and imports value.

Accra says it knows this. At the opening of the Ghana–China Joint Commission, Finance Minister Dr Cassiel Ato Forson said China is now Ghana's largest trading partner, but the structure must improve, and that Ghana's priority is to process more raw materials locally and export more processed cocoa and other value-added products.

Beijing has opened a door. China said it would apply zero-tariff treatment to 53 African countries, including Ghana, from May 2026, but its envoy said this could help rebalance trade only if local producers increase value addition and meet Chinese phytosanitary and quality standards. Tariff-free access is only useful to a producer who can meet the standards and fill the shipment.

That is why the yuan question in the Graphic Business headline deserves attention. Settling part of this trade in yuan could reduce pressure on dollar reserves and cut conversion costs for importers. But a currency arrangement does not change what Ghana sells. Ghana would still be paying for finished goods with unprocessed ones, only in a different currency.

Three things would narrow the gap:
Processing before export. Cocoa, cashew, shea and minerals should leave Ghana with local value already added.

Investment tied to production. Chinese capital should be steered toward manufacturing and processing plants, not only trade and construction.

Support for SMEs. Small exporters need help with standards, certification and logistics to reach the Chinese market.

Ghana's trade with China is large, and it will not shrink. The question is whether Ghana keeps buying value from China or starts selling some of its own.

Mustapha Bature Sallama
Medical/Science communicator, Private Investigator, Criminal Investigation and Intelligence Analysis,United States Institute of Peace (USIP), [email protected] +233555275880.

Sources: Graphic Business, 19–25 October 2026, front page (UN Comtrade/Trading Economics data);

Graphic Online, Ato Forson at the Ghana–China Joint Commission (https://www.graphic.com.gh/news/general-news/ghana-news-ghana-china-trade-relations-must-shift-to-value-addition-dr-ato-forson.html);

Ghanaian Times, "Ghana–China Trade Hits $14.1 Billion Milestone" (https://ghanaiantimes.com.gh/ghana-china-trade-hits-14-1-billion-milestone);

Business & Financial Times, Ghana-China Business Summit coverage (https://thebftonline.com/?p=231171).