Ghana: Exports contract at fastest pace in almost four years in December
April 22, 2015
In December, the last month for which data are available, exports fell 23.2% over the same month of the previous year, which was notably below the 19.0% drop tallied in November. December’s print marked the largest decline since January 2010. Imports fell 8.1% annually in December, which was an improvement compared to November’s 15.1% fall.
As a result of the sharp drop in exports, the trade deficit worsened, totaling USD 320 million in December (November: USD 260 million) and was well below the USD 140 billion deficit recorded in the same month of the previous year. The 12-month moving sum of the trade deficit widened from USD 1.3 billion in November to USD 1.5 billion in December.
Author: Cecilia Simkievich, Economist