Ghana is riding high on the strength of its gold exports, with revenue soaring to $11.6 billion in 2024, a sharp jump of 52.6% from the $7.6 billion recorded in 2023.
This surge has further cemented gold’s place at the heart of Ghana’s economy, accounting for 57% of the country’s total export income.
Interestingly, small-scale miners played a major part in this growth, contributing a remarkable $5 billion to the country’s export revenue.
As Ghana continues to ramp up production and exports, the country is positioning itself as a top destination for gold investors.
From June 2 to 4, the much-anticipated Mining in Motion conference will open doors for international investors to explore opportunities in Ghana’s gold value chain.
The event is expected to lead to major business deals and stronger trade relationships between Ghana and its biggest gold export markets.
Ghana has maintained its crown as Africa’s largest gold producer and has become a key player in international trade.
Asia remains the top buyer of Ghanaian gold, followed by Europe and Africa.
In 2024 alone, 65.4% of Ghana’s total gold exports to Asia went to the United Arab Emirates (UAE), while other major buyers included China and India.
In Europe, Ghana’s gold exports made their way to Switzerland, which alone accounted for 60.2% of exports to the continent.
But the reach didn’t end there; countries like the Netherlands, Spain, Italy, Germany, the United Kingdom, Belgium, France, Bulgaria, Portugal, Poland, Gibraltar, and Estonia also took a large share of Ghana’s gold.
Closer to home, Africa continued to show strong demand.
South Africa received 60.5% of Ghana’s gold exports within the continent, with other key importers being Burkina Faso, Ivory Coast, Togo, and Mali.
Even beyond these continents, Ghana’s gold found homes in North and South America.
Canada stood out as the leading buyer in North America, taking in 58.6% of Ghana’s exports to the region.
Over in Latin America, Brazil dominated with a whopping 94.1% of the exports.
With the upcoming Mining in Motion conference on the horizon and demand showing no signs of slowing, Ghana’s gold industry is not just thriving, it’s shaping new trade frontiers and driving steady economic growth.
