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Ghana's export boom shifts beyond gold and cacao to new industries

From raw cacao beans to high-value chocolate, Ghana is rewriting its export story. Can local industries outpace global commodity risks and create jobs?

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The image shows a paper with a graph depicting the number of exports and imports from Africa from...
The image shows a paper with a graph depicting the number of exports and imports from Africa from 1700 to 1780. The graph is composed of different colors, each representing a different year, and the text on the paper provides further information about the data.

Ghana's export boom shifts beyond gold and cacao to new industries

Ghana's economy still relies heavily on gold, crude oil, and cacao for nearly 80% of its export earnings. But recent shifts show progress in diversification, with non-traditional exports now making up over half of total shipments. The Association of Ghana Industries (AGI) is pushing for faster change to secure long-term growth.

Between 2021 and 2025, Ghana's export mix began to broaden. While cacao and gold stayed dominant, non-traditional goods like processed foods, pharmaceuticals, and plastics grew sharply. Pharmaceutical exports rose by 25% yearly, and plastics by 18%, according to the Ghana Export Promotion Authority. Sectors such as shea butter, textiles, and chemicals also expanded, lifting non-traditional exports from around 45% to over 55% of the total.

Kofi Nsiah-Poku, AGI's president, stressed the need for deeper changes. He called on the government to speed up diversification and add value to raw materials. Processing cacao into chocolate or cosmetics, for example, could earn far more than selling raw beans. Similarly, turning cashew into finished products might boost export value by up to 400%.

Nsiah-Poku also urged policy shifts to support local industries. He proposed restrictions on imports of finished goods like fruit juices to encourage local processing. Strengthening rice production and consumption was another priority. AGI warned that relying on volatile global commodity prices leaves Ghana vulnerable to external shocks.

The group pledged to work with the government on industrialisation, job creation, and export growth. Their goal is to build on recent macroeconomic gains and reduce dependence on a few key commodities.

Ghana's export landscape is changing, with non-traditional goods now accounting for more than half of shipments. But AGI insists more must be done to process raw materials locally and cut import reliance. The push for diversification aims to stabilise revenue and create jobs for the country's youth.

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