Ghana is on the brink of an economic upswing, with projections indicating a potential boost in its current account surplus to 5.1% of Gross Domestic Product (GDP) by the end of 2025. This promising forecast stems from a recent Absa Cedi Report released in May 2025, painting a picture of growth and stability for the nation’s economy.
According to experts as reported by Joy Online, Ghana is poised to strengthen its financial standing through increased reserves fueled by the export of key commodities like gold and cocoa. The report highlights that Ghana’s gold and cocoa production is set to escalate, driven by the establishment of new mines and favorable weather conditions for agricultural activities.
Optimistic Projections
The Absa report expresses optimism about Ghana’s economic trajectory, emphasizing the expected surge in current account surplus from last year’s 4.3% to an impressive 5.1% of GDP in 2025. This positive outlook is anchored on the country’s ability to leverage its exports, particularly gold and cocoa, to fortify its currency.
Export-Led Growth
“We believe export receipts will continue to benefit from supportive gold and cocoa prices,” states the report. The recent appreciation of the cedi against major currencies further bolsters Ghana’s position in international trade markets.
New Mines Driving Growth
Key contributors to this economic resurgence are anticipated new mining operations such as the Cardinal-Namdini and Ahafo South mines scheduled for commencement in 2025. These ventures are expected to significantly boost Ghana’s gold production, providing a much-needed impetus amidst evolving global trade dynamics.
Gold Market Dynamics
The report underscores that gold remains a resilient asset amid fluctuating global trade conditions, being exempt from recent U.S. tariffs. Heightened uncertainty in international markets has propelled investors towards safe-haven assets like gold, culminating in record-high prices and increased demand for Ghanaian exports.
Cocoa Challenges
While prospects look bright for Ghana’s gold sector, concerns loom over cocoa production due to adverse weather patterns affecting West Africa. The report cautions that neighboring Ivory Coast may face challenges in output due to unpredictable climatic conditions.
However, it notes that Ghana has experienced more stable rainfall patterns leading to a significant rebound in cocoa output following subdued harvests in previous years.
In conclusion, as reported by Joy Online, Ghana stands at a pivotal juncture poised for economic advancement driven by strategic export policies and favorable market conditions within key sectors like mining and agriculture.
