Trading Partner Portal: Ghana
Overview
Trade Overview
Ghana is located in West Africa along the coast of the Atlantic Ocean. Ghana’s population was 34.12 million in 2023, and the GDP was $76.37 billion in the same year. Ghana’s population is made up of a wide variety of ethnic and religious groups, about 70% is Christian, another 15% is Muslim and 5% practice traditional faiths. Ghana has a growing economic strength within the region and has become a regional power in West Africa.
U.S. – Ghana Trade
In 2023, the U.S. exported $861 million to Ghana. Chemicals made up $146 million of the total. This was followed by processed foods ($97 million), petroleum and coal products ($97 million), used or secondhand merchandise ($88 million), and transportation equipment ($84 million).
In the same year, the U.S. imported $1.63 billion from Ghana. Oil and gas made up the bulk of imports totaling $1.16 billion, followed by agricultural products ($195 million), processed foods ($138 million), and apparel ($39 million), and primary metals manufactures ($29 million).
California – Ghana Trade
In 2023, California exported $24 million worth of goods to Ghana. Used or secondhand merchandise totaled $6 million. This was followed by computer and electronic products ($4 million), non-electrical machinery ($4 million), transportation equipment ($3 million), and processed foods ($1 million).
California imported $413 million from Ghana in 2023, with oil and gas making up $400 million of the total. This was followed by processed foods ($8 million), agricultural products ($2 million), wood products ($1 million), and apparel and accessories ($1 million).
FDI – Ghana
Ghanaian FDI into the U.S. totaled $1.6 billion in 2023. (Bureau of Economic Analysis)
Trade Agreements
Trade Agreements and Issues
Africa Growth Opportunity Act (AGOA)
In 2020, Ghana was eligible to trade with the U.S. under AGOA.
According to the U.S. Trade Representative, since its enactment in 2000, the African Growth and Opportunity Act (AGOA) has been at the core of U.S. economic policy and commercial engagement with Africa. AGOA provides eligible sub-Saharan African countries with duty-free access to the U.S. market for over 1,800 products, in addition to the more than 5,000 products that are eligible for duty-free access under the Generalized System of Preferences program.
| U.S. Strategy Toward Sub-Saharan Africa White House, August 2022 FACT SHEETVital Partners, Shared Priorities: The Biden Administration’s Sub-Saharan Africa Strategy U.S. Department of State, August 8, 2022U.S. Food Security Assistance to Sub-Saharan Africa U.S. Department of State, August 8, 2022Statement by President Biden on the U.S.-Africa Leaders Summit White House, July 20, 2022 |