Ghana’s net international reserves ended 2021 at $6.09 billion, higher than the $5.56 billion recorded during the same period last year.
This is equivalent to 4.4 months of import cover.
According to data from the Bank of Ghana, the reserves decline from $8.23 billion in May 2021 to $7.25 billion in September 2021, before rising to $7.32 billion in October 2021.
At the beginning of the year (January 2021), the country’s reserves stood at $5.89 billion, about 4.1 months of import cover.
According to the figures on External Sector Developments, the Heritage and Stabilisation Funds in the first 10 months of this year stood at $ 971.4 million.
This was higher than the $844.8 million recorded in December 2021.
Ghana records trade surplus of $1.107bn in 2021
Ghana recorded a trade surplus of $1.107 billion in 2021.
This is however lower than the $2.043 billion registered in 2020, and equivalent to 1.5% of Gross Domestic Product (GDP).
According to the data, exports for the period stood at $14.73 billion, whilst imports recorded was estimated at $13.62 billion.
The reduction in the trade balance is largely due to the further easing of the economy from the impact of COVID-19 pandemic.
Source: Joy Business
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