Ghana’s export revenues rose to $31.1 billion in 2025 from $19.1 billion in 2024, with gold generating $20.9 billion, far ahead of cocoa ($3.8 billion) and oil ($2.6 billion).
Gold earnings nearly doubled from $10.3 billion the previous year, driven by a 70% surge in gold prices and reforms in artisanal and small-scale mining (ASM), Ecofin Agency reported.
Since May 2025, the Ghana Gold Board (GoldBod) has regulated ASM, buying gold from small-scale miners for export. In its first year, GoldBod exported 100 tonnes, earning about $10 billion, roughly half of total gold exports.
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“The surge in gold revenues comes against the backdrop of ongoing reforms in Ghana’s gold trading and value chain management, including enhanced state oversight, formalisation of gold flows, and improved value retention through the Ghana Gold Board (GoldBod),” GoldBod said.
Authorities plan tighter oversight of industrial mines, a mining audit covering 19 large mines, and changes to royalties, raising them to 9–12% from 3–5%, while abolishing stability agreements.
Maintaining a stable business environment will be crucial as gold remains central to Ghana’s export earnings.
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Image Credit: Africa Press
