General News
Strong Export Gains Drive US$8.85 Billion Trade Surplus Despite Rising Import Bill
The trade surplus improved to US$8.85 billion in the year to August 2026 from US$6.69 billion in the same period last year, supported by high export proceeds, notwithstanding a sharp rise in the import bill.
In the first eight months of 2026, total exports rose to US$22.4 billion, from
US$17.9 billion in the same period of 2025, driven by strong gold, cocoa, and crude oil export receipts.
Imports totalled US$13.58 billion, up by 20.8 percent from US$11.24 billion
last year.
This was driven by higher oil and gas import values, on account of increased crude oil purchases for domestic refining activities.
Gross International Reserves stood at US$12.0 billion, equivalent to 4.5 months of import cover, as at 22 September 2026, supported by improved gold export receipts despite the elevated external sector payments over the period.