Ghana, a country known for its rich resources like gold and cocoa, is gearing up for a positive economic outlook according to the latest Absa Cedi Report released in May 2025. The report anticipates a significant improvement in Ghana’s current account surplus, projecting it to rise to 5.1% of the Gross Domestic Production (GDP) by the end of the year. This marks an increase from the previous year’s figure of 4.3%, indicating promising growth prospects on the horizon.
As reported by Joy Online, Ghana is poised to leverage its strengths in gold and cocoa production to bolster its reserves and support the local currency, the cedi. The nation’s export sector is expected to thrive with advancements such as new mines coming into operation and favorable weather conditions supporting agricultural activities.
“Given these developments, we now expect the current account surplus to improve to 5.1% of GDP in 2025 from last year’s 4.3%,”
stated the Absa report optimistically.
The surge in export receipts from gold and cocoa trade is seen as a driving force behind this positive economic trajectory. Notably, recent market dynamics have favored Ghana’s exports leading to an appreciation of the cedi against major currencies like the dollar.
“We believe export receipts will continue to benefit from supportive gold prices,” highlighted
the report
.
In particular, Ghana stands out as a beneficiary of its expanding gold mining sector with anticipated contributions from upcoming mines like Cardinal-Namdini and Ahafo South entering production during 2025 as mentioned
by sources.
“The yellow metal is exempt from the latest wave of US tariffs,”
shedding light on how Ghana’s gold industry remains shielded amidst global trade uncertainties that have propelled investors towards safe-haven assets like gold.
On another front, concerns were raised regarding cocoa production due to adverse weather conditions potentially impacting output levels across West Africa. While neighboring Ivory Coast faces challenges in crop yields due to volatile weather patterns,
“Amid expectations of a smaller harvest in West African region…output from Ivory Coast could suffer amid volatile weather conditions,”
cautioned
the report
.
Fortunately for Ghana, stable rainfall patterns have supported consistent crop yields enabling a notable recovery from subdued output witnessed last year.
This forecast not only underlines Ghana’s potential for economic resilience but also underscores its strategic positioning within key sectors that drive national revenue growth.
As we look ahead towards Ghana’s economic future beyond 2020s, it becomes imperative for policymakers and stakeholders alike to capitalize on these opportunities while navigating challenges presented by global market fluctuations.
—
Attribution:
Original article retrieved from Joy Online at [https://www.myjoyonline.com/ghanas-current-account-surplus-to-improve-to-5-1-of-gdp-by-end-of-2025-absa-report-forecasts/]
