Trading Partner Portal: Ghana
Ghana is located in West Africa along the coast of the Atlantic Ocean. Ghana’s population was 31.07 million in 2020 and the GDP was $68.53 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.
In 2021, the U.S. exported $957 million to Ghana. Used or secondhand merchandise made up $175 million of the total. This was followed by transportation equipment, chemicals, processed foods, and non-electrical machinery. In the same year, the U.S. imported $1.72 billion from Ghana. Oil and gas made up the bulk of imports totaling $1.339 billion, followed by agricultural products, processed foods, and forestry products.
In 2021, California exported $38 million worth of goods to Ghana. Used or second hand merchandise totaled $11 million. This was followed by transportation equipment, computer and electronic products, and processed foods. California imported $585 million from Ghana in 2021, with oil and gas making up $578 of the total.
U.S. foreign direct investment into Ghana totaled $429 billion in 2020, while Ghanaian FDI into the U.S. totaled $1 million the same year. (Bureau of Economic Analysis)
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, 2022
U.S. Food Security Assistance to Sub-Saharan Africa
Statement by President Biden on the U.S.-Africa Leaders Summit