Data from the Bank of Ghana shows that the country’s trade balance narrowed in the first four months of this year to 1.0% of Gross Domestic Product, as imports continued to surge.

Per the data released, the trade balance stood at US$759 million in April 2021 as compared to the same period in 2020, which was US$1.0 billion, equivalent to 1.3% of GDP

The trade balance is the difference between exports and imports.

Total exports were estimated at US$5.13 billion in the first four months of this year, whilst total imports, including oil, stood at US$4.37 billion.

Ghana earned US$1.8 billion from gold, US$1.2 billion from cocoa and $1.14 billion from oil respectively from exports.

Meanwhile, Ghana’s Gross International Reserves moved to US$10.9 billion in April 2021, from US$8.6 billion recorded in December 2020.